Here are some commonly asked questions about renting to college kids: In this video, we interview an experienced property manager on how he handles situations where the parent is responsible for the students rent. The rental agreement should provide guidelines about notification, pet deposits, and kinds of pets allowed. Sign up and we will keep you up to date on our blog, latest news and of course, give you a freebie or two. You can also contact a real estate attorney to guide you through the process. Rent: Tenant agrees to pay Landlord in advance on the 1st day of each month at $_____per month beginning on _____. to screen everyone who will be living on the property. There is a high demand for off-campus housing which drives up rents. If you do not want them on the room or in the crawl space, then make sure that is in the lease agreement. Mazzoni Valvano Szewczyk & Karam | Real Estate | March 24, 2020. Whether youre renting to one student or a couple of roommates, its crucial for property managers in Baltimore to screen everyone who will be living on the property. Luckily, there are many ways to advertise to students looking for rental housing near campus. But this also means you have the option to leave at the end of the month. No Obligation. If your municipality doesnt have specified quiet hours, you can use the most typical hours of 10 p.m. to 7 a.m. Young adults who have never lived away from mom and dad often have no clue on how much it costs to leave the A/C unit on all day while their at class or how much the water bill adds up if you dont fix a running toilet. want to ensure that the subletter can financially afford the rent payments for your apartment and is willing to sign a rental agreement. Have a Standard Tenant Screening Process. And students like the added peace of mind as well., If there's a public transportation spot nearby, don't forget to highlight it in your marketing.. Accepting too many students can lead to disruption, damage, and property neglect. We have seen some two-bedroom apartments that are holding 6 to 8 college students. You can also contact a real estate attorney to guide you through the process. For those first-time landlords, there are various dos and donts to follow that, Read More Rental Property Dos & Donts for First-Time LandlordContinue, When we know what is going on in the national and statewide real estate market, we are better equipped to make lucrative investment decisions. View available Victory rental homes and see the difference! Student tenants are those that are enrolled in a college, university, technical college or some other form of higher education program that operates on a term or semester system. Renting to college students can be very profitable for landlords. Note: The per semester rent due from each Student is based on the total amount of the rent divided by the number of Students living in the Premises. However, while renting to college students, its especially important to have a deposit in place. Passion will drive client success. When collecting data, request information about the make and model of their vehicle. Despite high turnover, landlords generally have plenty of applicants ready to fill any vacancies. If you set up an all-bills-paid lease for students, you can simplify the entire process. As tech leaders in the industry, we know what our clients want! Search for jobs related to Renting to college students lease agreement or hire on the world's largest freelancing marketplace with 21m+ jobs. Getting the student and the co-signer to sign an agreement about restrictions, Standing dishes or other things that may attract pests, Signs of more residents than listed on the lease, Possible maintenance issues or frequent noise complaints. What are, Read More Should I Put My Rentals in a LLC?Continue, Matterport 3D Virtual Touring/ Contactless Viewing More so than ever, 3D-Virtual Touring and contactless viewing have become an important tool for property management companies and renters in the house-hunting process. Removing liabilities to keep your property safe isn't a bad thing when it comes to college student tenants. Every landlord has their own opinions and experiences with renting to college students and dealing with co-signers. university and college students are typically . Some landlords refuse to invest in property near colleges so they dont have to worry about student applicants, while other landlords thrive on filling their investment properties with this booming segment of the rental population. However, there are also reasons you cannot be denied tenancy. From there, if needed, you can schedule another inspection shortly after.. Read the 7 Essential Leasing Agent Duties to Include on Your Job Listing. Students may need a shorter lease agreement since school isnt in season all year round. On the other hand, you could charge a higher security deposit or higher rent for providing a furnished apartment. Bay Property Management Group is the ultimate property management company, specializing in a wide range of properties, including single-family houses, portfolios of rental homes, and apartment buildings. Youre bound to maintain reliable student tenants for years to come! Drivers license or valid legal identification, Check or cash for required deposit and up-front payments, The names and information of all tenants who will be on the lease. However, it is important to pay attention to any applicable local laws and regulations. Engage with website prospects 24/7, highlight your best amenities and floor plans, schedule tours, and showcase available floor plans for rent. Besides students, you could also have a new tenant base in a different rental market: part-time or adjunct instructors. Others claim that youre a fool if dont. But make it clear that students aren't out of the woods evictions-wise, though. Contact us today for all of your rental management needs. Find out how we can help you. Keeping security cameras in the parking lot can also help all tenants feel much safer in a new town. However, there is a catch. Make sure to advertise your rental in several places like Facebook Marketplace, apartments.com, Craigslist, and more. Patrick Freeze is a licensed real estate broker and Baltimore native with over a decade of experience in the real estate and property management industry. There are 5 things that landlords can do to ensure that they are attracting and screening the best of the best when it comes to student tenants. Some students even pay several months in advance or a semester at a time. Although they may not have a rental history or sufficient income, youll still want to check their criminal background and job history. There are advantages and disadvantages to each option. Industry Insights, Product Updates, & More. Also, consider having co-signers and increasing the security deposit to protect yourself., Speaking of risks, to have a successful student tenant, its up to you to instill the proper rules. They may not have much credit history either., But even with a lack of rental history, this doesn't have to be a deal-breaker. Whether youre renting to one student or a couple of roommates, its crucial for. . For real estate investors, this creates a unique opportunity for rental properties in college towns or areas near universities where students may look for accommodation. Now, you may be curious about how to find students willing to rent out your complex's vacancies. Minimal advertising is needed to fill vacancies because college students spread information by social media and word of mouth very quickly. If more people live in the apartment than listing on the lease, you can find yourself in legal trouble with your landlord. That way, if theres an emergency, there wont be any confusion about who to call. As a property manager, it's essential to protect your investment, and regulations will help you do that. Contact Mazzoni Valvano Szewczyk & Karam for a free consultation today. Here are a few must-haves to attract college students: Distance: Proximity to campus is the most important factor when . Student tenants are often inexperienced in what it takes to be a good tenant, so landlords need to be extra thorough in how they run their business. TRENDING: . Student Renters are Less Demanding. However, keeping track of maintenance, tenant screening, and rent collection for each can be challenging if you have several rentals. If theyre unable to keep a steady job, thats when youll want to require a co-signer. Access to scripts, example videos, &more! Sign up for US Legal Forms to save, print, and fill out legal templates without limits. A clause that you must occupy the space for a set amount of time before you can get your security deposit back. Here are some of the best ways to minimize risks when renting to college students. While this typically is just a basic background check for the landlord to ensure there are no red flags, there are certain reasons you may be denied tenancy. Not having enough rental history doesnt guarantee you won't get paid. Offering deals during the summer encourages students to stay in the little college town instead of returning home. 1. Having a co-signer on the lease is important for two reasons. In addition, you may consider offering other basic necessities such as pots, pans, utensils, and dishes. Remember that rental properties in college towns are considered a great investment by many experts. In this case, pulling in rent at a discounted rate is better than not getting any rent payment at all.. Whether renting to college students, single people, or families, youll want to protect your rental property at all costs. Weve discussed the pros and cons of renting an apartment to college students but not renting a room. You can also consider offering free Wi-Fi to reduce their other expenses as part of the rent. Fewer Vacancies. Little to no credit history. While not every college student is a party-goer, if someone hosts a party at your property, it can cause some major damage. Lease Terms Should Include a Summary of Property Rules. Since new students attend the school each year, there is usually a steady demand for rentals, which could lead to fewer vacancies. Legally, a co-signer takes responsibility for missed rent payments, should the tenant be unable to pay. The student lifestyle may cause problems at the property, such as partying, noise complaints, and inexperienced tenants that choose not to take care of the property or dont know how. As stated above, college students generally dont have a surplus of money to spend on furniture and decor for their rental homes. BMG offers rental management in Baltimore, Philadelphia, Northern Virginia, and Washington DC. If there is damage to the rental that makes it unlivable, such as insects, rodents, mold, and non-working utilities that have never been addressed by your landlord, you may legally be able to break the lease. Some landlords are hesitant of renting to college students due to lack of rental or credit history, but college rentals can be profitable investments. Offer prospects the ability to schedule in-person, virtual, or self-guided tours based on your team availability without lifting a finger. What do Landlords Need to Know?Continue, If you have been a real estate investor for any length of time, you have no doubt heard about placing your real estate investments in a LLC (Limited Liability Corporation). If they do not have steady or sufficient income, allowing a co-signer may be the way to go. A: Depends on the city you live in https://www.politico.com/. A student may have another person pay for rent on their behalf. In any rental listing, its important to list a lot of photos. If you want to appeal to college students, highlighting your propertys desirable amenities is crucial. Set an inspection date and time for your tenants. Your email address will not be published. There are some apparent risks while renting to college students. So if youre renting out a one-bedroom apartment, you can allow two students on the lease. Let's talk about the top four things prospective tenants want in a college rental. All monetary obligations of Tenant to Owner under the terms of this Rental/Lease Agreement, including but not The largest collection of professionally-drafted, state-specific official documents is close at hand. This technology is proven, and we have stats and tips to prove it.". That way, all students and co-signers fall under joint and several liability: they're all legally liable for the entire rent, even if they paid "their portion" of it. They can provide instructions on hanging up paper postings on campus bulletin boards., Do this, and students and new instructors can see the available apartment options for the next school year.. See Also: Your Step-by-Step Guide to Creating an Effective Apartment Marketing Plan, Students have needs, but so do you as an apartment manager.. Most college students want to live in an area with plenty of things to do, see, and eat. Landlords with property in college towns should make sure they have some very strict processes in place to ensure that they are weeding out student tenants that will be much more costly to deal with. Renting to college students is a lucrative source of passive income that you shouldnt pass up!, There are many benefits to renting to college students., Indeed, they may not stay at your property forever.. On the other hand, in Baltimore City, no more than four unrelated persons can live together in a single-family rental home. Business Assistance https://www1.nyc.gov/, Q: Can I still close on my property in state? Thats why you need to go with Mazzoni Valvano Szewczyk & Karam. That said, youll get more eyes on your property if you advertise it online. However, this is a stereotype. A lot of landlords take this approach because it helps mitigate your risk against damages. There's also a reason they're looking for an off-campus apartment instead of on-campus student housing. But it does leave you at risk for higher rent and to be asked to vacate the property at any time. Landlords, we here at Victory Property Management consider it our serious responsibility to protect your interests, your property, and our reputation. As stated above, college students generally dont have a surplus of money to spend on furniture and decor for their rental homes. Landlords can take advantage of the benefits and avoid many of the risks in providing students with a place to live when they develop a sound strategy. Such reasons to be denied can be a criminal history or unpaid past rental records. Contact a real estate attorney to find out your rights and what the process must be going forward. In both of these cases, the date for termination of your lease must be the last day of a rental period (e.g. An example of a reward would include an assigned parking space closer to the building or a discount on rent.. Well value mistakes over complacency. Working in the Apartment and Multi-family space for generations. Pros and Cons of renting to college students, http://rentprep.com/landlord-tips/coronavirus-resources-new-york/, https://www.cnn.com/2020/03/19/success/real-estate-coronavirus/index.html, https://portal.311.nyc.gov/article/?kanumber=KA-01253. Theyre more interested in having a refrigerator and a stove. From their reviews, you can highlight positive apartment features like:. Imagine what we can be, Enter your postal code, city and / or state, 2022 Victory Property Management Licensed Real Estate Brokerage #C17177, What to Expect as a Prized Victory Rental Investor, Rental Owner-Investor Tips, News, & Guides, 10 Essential Lease Terms When Dealing With College Students. Many landlords require tenants to sign a year-long lease, which means you or your son must cover rent during the summer, even if your son returns to your home. Then, you can set competitive prices accordingly. Matterport 3D Virtual Touring [Measuring Spaces]. And, you can increase your occupancy at the same time. Instead, include a summary of all the property rules as part of the lease. Must-Haves For Students. Lets face it, leases are intimidating. However, in Baltimore City, there are specific laws regarding unrelated people living together that landlords and students must be aware of. If you are a college student undergoing the lease agreement process, you may want to consult with a real estate attorney if you feel there are elements of the agreement that do not seem right to you. If the new renter includes the name of their student referral, you can reward them with a gift card or discounted rent, for example.. Lets cover a few more things to keep in mind when renting to them!, As mentioned, most college students dont have a lot of rental history. In Baltimore County, no more than two unrelated persons can live together in a single-family rental home. Instead, prepare a separate lease for each tenant based on the bedroom they will rent. 5,500 Units Under Management. New Renting to College Students Lease Agreement - Through the thousands of pictures on-line about Renting To College Students Lease Agreement, we picks the very best collections with best image resolution just for you, and now this photos is actually one among images choices in your best graphics gallery concerning New Renting to College . AirBnB What is it? We all know that college students party more than the rest of us. Fast Reply. We use cookies to ensure that we give you the best experience on our website. highlighting your propertys desirable amenities, Most Common Tenant Complaints and How to Handle Them, Property Management in Anne Arundel County, MD, Property Management in Carroll County, MD, Property Management in Chester County, PA, Property Management In Cumberland County, PA, Property Management in Harford County, MD, Property Management in Lancaster County, PA, Property Management in Montgomery County, MD, Property Management In Montgomery County, PA, Property Management in Prince George's County, MD, Property Management in Prince William County. Besides being great for students, all tenants can enjoy these convenience features. Just remember, providing extra items poses more risk to the landlord since everything would be subject to greater wear and tear. Not only should you outline it in the lease, but you can include a printout of the rules as well.. Thats why you need to go with Mazzoni Valvano Szewczyk & Karam. Students may well need a place to live from September to May., Consider offering a bonus if theyre willing to sign a summer or two-year lease. If you have been discriminated against, the Fair Housing Authority can guide you through the process of filing a complaint. Growing Apartments and content for the multi-family space is my goal and passion. Second, most college leases are paid by the parents. Accepting too many students can lead to disruption, damage, and property neglect. The length of time can vary from six months to one year or even longer. Just note, for the landlord to change the terms of your agreement, they must notify you properly before the start of the month. In this article, were going to discuss Whether its worth it or not Who could most benefit How to handle the repair issue I guess the, Read More Is it a benefit or drawback for landlords to include a washer & dryer?Continue, Owning a rental property can be an excellent long-term investment that provides long-term equity creation and current cash flow. However, other landlords are willing to sign nine- or 10-month leases, particularly in college towns. If you are not using a skilled property management agency, you will want to have your attorney draw up a lease agreement that is tailored to college students. Inspecting the unit ensures students manage their household well and arent destroying the property. Renting to college students is a great source of income, but if you want to keep your personal involvement to a minimum and provide extra protection for your investment, we recommend placing your property with an experienced property management team. Many college students don't have a credit history or high credit scores. Please try again later or contact us via email. Of course, owning and operating a rental home full of student tenants can also be a big disadvantage to landlords that arent prepared to handle the range of problems that are possible. As a student, if you're not in the financial position to pay your own rent, you will sign a lease with a guarantor or cosigner. And if you do not understand the nuances, it is easy to be taken advantage of. Receive free tips and new content every day, Your inspiration directly to your email inbox, Department of Housing and Urban Developments Fair Housing Act. While this can be stressful, you need to know that there are right and wrong ways of doing so. Create the right set of rules. Last week we wrote an article What You Must Know When Leasing to College Students. This week we are providing landlords with a list of the 10 essential lease terms for college students. Landlords should make sure they enforce the lease conditions such as noise levels, number of people on the lease agreement, charging for damages, and regular inspections. Some believe that there is a bubble about to burst with our higher education systems. So if you're renting out a one-bedroom apartment, you can allow two students on the lease. That makes having a gym another excellent perk for students who enjoy staying active but want to save money on gym memberships and equipment. If theyre starting at the nearby universities next semester, you may be able to rent to them as well. You need to have a lease designed for college students. Most importantly, how rent will be paid. For instance, consider setting up designated parking spots for Uber drivers and grocery store drop-offs. So try to rent out studios and one-bedrooms to students instead of larger units if possible. These leases function on a month-to-month basis. If you have been discriminated against, the Fair Housing Authority can guide you through the process of. Next, lets go over whether you should furnish your rental or leave it up to your tenants. As such, requiring a security deposit can ensure you dont lose money due to tenant damages. While there are plenty of benefits that come with investing in real estate, becoming a landlord does come with new responsibilities and challenges. Youll likely have rules prohibiting parties on the property, but that doesnt mean they wont happen. Also, remind residents that keeping the peace includes everyone being courteous of one another. Students can sometimes present unique circumstances for landlords. Also Check Out! Small acts like this give a students parents confidence in their safety while away from home. Stay strict on enforcing the lease agreement and community rules. If you are a college student, you may have begun the hunt for an apartment for the next academic year. If your landlord does not follow traditional tenancy agreements, they may opt you into an at-will tenancy which means that at any time, either of you can break the agreement, so long as enough notice is given. It may seem like a no-brainer to rent to student tenants and just implement the same rules and procedures as a traditional rental. You want students serious about school and interested in a quiet, safe place to live.. To maximize your cash flow, you need to have your units vacant during the time when students are looking for housing. However, its important to select durable and functional pieces to get the most impact for your money. If its a students first time living in a rental property, you may want to spend extra time explaining the lease and outlining your expectations. Plus, it may require more effort to rent to them. Note them, address them if needed, and put them in the file. There is a high demand for off-campus housing which drives up rents. . With a 24/7 virtual leasing agent like LeaseLeads on your site, you can find the right student tenants before next semester begins. If you plan on including WiFi with your rental, get a reputable service provider and fast internet speed. Many people prefer a graduate student in these situations who will be on campus more often. Yet, having a good record of what kind of shape everything is in is essential at move-out and move-in. Our company looks, in part, to CoreLogic to help provide reliable data about the state of the, Read More State of the Market November 2017Continue, Rent@VictoryRealEstateInc.com | 844.476.7368, To treat every property as if it were our own, and dominate the best competition nationally with our results. Properties are exposed to more wear and tear than more mature tenants might create. The reason why could be because their parents used their social security numbers.. There a few different forms of lease agreements you should be mindful of: Fixed Length Lease: This is the most common type of lease agreement. Lease agreements can be complicated. With extensive knowledge of. If you're a landlord renting to college students, know how to minimize your risks in a lease agreement and other ways so you can capitalize on a rather lucrative property. State Eviction & Nonpayment Resource Page https://www.nyhousing.org/ In any rental, youll want to require a security deposit. Understand your prospect's journey from a lead to a lease. So if one Student backs out of the lease, the total amount of the rent stays the same and is . For instance, you may want to schedule an inspection every three months. This is important because if you fail to pay rent or cause excessive damage to the rental, your cosigner can be held legally responsible for the cost. Several advantages include: High demand for housing. The understanding is that for whatever length of time your lease is, you will remain in the dwelling and continue to pay rent for that time. This doesn't give the average student enough time to build enough credit history to properly screen them. Lease agreements can be complicated. Of course, you can expect to pay more for an off-campus rental than for dorm housing. If left unchecked, college students can begin to stack up in one apartment.. While this seems obvious, you will want to make sure that the lease specifies that weapons include BB guns, paintball guns, rocket launchers, and any homemade projectiles. Open-mindedness is a requirement. Your website out the door could be a piece of art that is remembered in this city throughout time. Louisiana Landlord Tenant. See what your home is worth in todays rental market! . A classroom agreement is an agreement that describes how students will to work together in a classroom and includes certain rights, such as respect. Also, landlords can simply advertise exclusively on college-centered mediums. That said, ensure that both co-signers and students undergo a criminal background check before agreeing to lease terms. A: Yes https://portal.311.nyc.gov/article/?kanumber=KA-01253, Q: Do I still have to pay my water bill? That way, you wont hold your tenant responsible for the damage they didn't do. Renting to students can be inevitable when you own rental properties near college campuses. You will be surprised on the creative areas your college tenants will hang out in. What is more, you can often get more rental income than renting to typical non-student tenants. The length of time can vary from six months to one year or even longer. How the Lease Agreement Works. Free Consultation. housing current students the quality of our faculty members is one of the primary reasons students choose to study here we attract world renowned scholars at the cutting edge of their field who are published authors passionate educators and dedicated researchers landlord guide to . , should the tenant be unable to pay starting at the same time co-signers and students be... Know that college students plans, schedule tours, and kinds of allowed. To list a lot renting to college students lease agreement photos what is more, you need to have a surplus of money spend. Best experience on our website the same and is willing to rent out studios and one-bedrooms students. Very profitable for landlords the room or in the industry, we what. Assistance https: //www.nyhousing.org/ in any rental, get a reputable service provider and fast internet speed tenants will out... Four things prospective tenants want in a different rental market and more these convenience features leases are by. Apartment instead of on-campus student housing party at your property, but doesnt..., we know what our clients want, virtual, or self-guided tours based on the lease property! That there is a high demand for off-campus housing which drives up rents: //portal.311.nyc.gov/article/ kanumber=KA-01253!, Include a Summary of all the property each year, there are plenty benefits. Hang out in all tenants feel much safer in a college student, you hold... You may consider offering other basic necessities such as pots, pans, utensils, property. The parking lot can also contact a real estate attorney to guide you through the process of filing a.! Todays rental market as tech leaders in the crawl space, then make sure to advertise your rental or it... Looking for rental housing near campus 10 essential lease terms should Include a of... County, no more than the rest of us deposits, and Washington.! In having a co-signer may be the way to go inevitable when you own rental properties college! To reduce their other expenses as part of the 10 essential lease terms for! In this city throughout time very profitable for landlords your tenants separate for! Agrees to pay impact for your apartment and Multi-family space is my goal and passion in these situations will. Semester, you can also contact a real estate attorney to guide you through process! Yourself in legal trouble with your rental in several places like Facebook Marketplace, apartments.com,,! Get paid to call 24/7, highlight your best amenities and floor plans for rent a. Your home is worth in todays rental market is proven, and rent collection for each tenant based on lease. Other expenses as part of the woods evictions-wise, though out legal templates without.... This doesn & # x27 ; re renting out a one-bedroom apartment, you can highlight apartment. Any time other basic necessities such as pots, pans, utensils, and kinds of pets allowed a! The school each year, there wont be any confusion about who to...., should the tenant be unable to keep your property if you set up an all-bills-paid lease for tenant. Discussed the pros and cons of renting an apartment to college students enjoy staying active but want to a. Residents that keeping the peace includes everyone being courteous of one another about... Who enjoy staying active but want to require a co-signer may be able to rent to them as well parking... Renting an apartment to college students generally dont have a new town estate attorney to you! Self-Guided tours based on the city you live in the apartment and is more, you also! Offering other basic necessities such as pots, pans, utensils, and of..., other landlords are willing to sign a rental agreement should provide about... Offering other basic necessities such as pots, pans, utensils, and regulations to damages. Tenants before next semester begins disruption, damage, and eat save, print, and.... A lot of photos non-student tenants applicants ready to fill vacancies because college students can lead to vacancies... That doesnt mean they wont happen dealing with co-signers students and dealing with co-signers a reputable provider! Best amenities and floor plans for rent on their behalf we are providing landlords with a list the... Date for termination of your lease must be going forward the entire process Leasing agent like LeaseLeads on site! Your security deposit or higher rent for providing a furnished apartment many experts providing extra items poses more to... Stay in the crawl space, then make sure that is in is at. Spots for Uber drivers and grocery store drop-offs be denied tenancy in rent at a time be advantage... Designed for college students unrelated people living together that landlords and students undergo criminal... Considered a great investment by many experts via email much safer in different... Or unpaid past rental records away from home deposit or higher rent for providing furnished... Returning home unable to keep a steady job, thats when youll want to require a co-signer the! Curious about how to find out your rights and what the process of prefer a graduate in... A clause that you must know when Leasing to college students durable and functional to. //Rentprep.Com/Landlord-Tips/Coronavirus-Resources-New-York/, https: //www.nyhousing.org/ in any rental listing, its crucial for a rental... Proximity to campus is the most important factor when allowing a co-signer takes responsibility missed! Could charge a higher security deposit income than renting to college students off-campus housing which drives up rents with. Are n't out of the month rental listing, its important to pay water! Own opinions and experiences with renting to one year or even longer we give the! Lot of photos with your rental or leave it up to your.... Last day of each renting to college students lease agreement at $ _____per month beginning on _____ high turnover, can. Opinions and experiences with renting to college students do n't have a surplus of money to spend on furniture decor! A no-brainer to rent to them a landlord does come with new responsibilities and challenges refrigerator and stove. Discriminated against, the date for termination of your lease must be aware of own opinions and experiences renting. Enough credit history or unpaid past rental records few must-haves to attract college students the difference some even. Exposed to more wear and tear than more mature tenants might create nuances, can! My property in state student backs out of the rent stays the same and is from... Isnt in season all year round their reviews, you may consider offering basic... People prefer a graduate student in these situations who will be surprised on the lease this also means have... As well to leave at the same rules and procedures as a property manager, can! Baltimore city, there are right and wrong ways of doing so that way, you wont hold tenant... Rest of us showcase available floor plans for rent on their behalf, families. Denied can be inevitable when you own rental properties in college towns are considered a great investment many. Right student tenants before next semester begins through the process of larger units if possible have begun the hunt an. Investing in real estate attorney to find students willing to rent to student tenants for to... Poses more risk to the landlord since everything would be subject to wear. While renting to college students, highlighting your propertys desirable amenities is crucial is proven, and kinds pets... Your tenants available floor plans, schedule tours, and kinds of pets allowed to. The best ways to minimize risks when renting to college students, all tenants can enjoy these convenience.. Save, print, and our reputation responsibility to protect your rental, youll still want to require a.! Inevitable when you own rental properties near college campuses we use cookies to ensure that both co-signers students! While this can be challenging if you & # x27 ; t the! A different rental market: part-time or adjunct instructors for Uber drivers and grocery store.. In this case, pulling in rent at a time even longer new... Discriminated against, the date for termination of your lease must be going forward in! And Multi-family space for a set amount of the rent stays the same and is willing sign! Getting any rent payment at all costs tenant base in a college is! Both of these cases, the Fair housing Authority can guide you through the process of benefits that come investing... Require more effort to rent to them as well your college tenants will hang out.. To vacate the property at all a separate lease for each tenant based on team! May be able to rent to them access to scripts, example,! From their reviews, you could also have a lease designed for college students apartments... Can highlight positive apartment features like: memberships and equipment these situations who will be campus. Town instead of returning home rental homes strict on enforcing the lease your lease must be the last of... Is willing to sign nine- or 10-month leases, particularly in college towns by parents! The tenant be unable to keep a steady job, thats when youll want to live in the parking can! People prefer a graduate student in these situations who will be on campus more often and dishes lot! For an apartment to college students and dealing with co-signers decor for their rental homes working in the lease and! To vacate the property a complaint a security deposit and Washington DC student... Denied can be challenging if you plan on including WiFi with your landlord of..., its crucial for off-campus housing which drives up rents but not renting a room of... To prove it. `` when Leasing to college students want to require co-signer!
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