Benefits of Being A Landlord to Students
It’s that time of the year again! School is about to start, and college students are scrambling for a place to live. While some property managers and landlords think negatively about student residents, it’s really not all that bad.
There are actually lots of benefits of having college student residents in your rental properties. You just need to learn a few tricks to being a landlord to college students, and you should be set. Here are the benefits of leasing to college students:
Student renters tend to be less fussy.
College students are novice renters. This means they might not have as high expectations as a working professional might. They’re more likely to put up with things like outdated appliances or funky painted walls.
They might pay in advance.
Parents sometimes help out with the rent when their kids are in college. It can be a hassle for the parents to give the rent money to their kids and have the kids send the money to you. Parents may want to pay several months upfront to get the payments out of the way. This means you don’t have to worry about late payments and it guarantees paid rent for a few months.
You could advertise on the university’s site.
Most universities have off-campus housing resources available to students. College students who are new to renting will likely turn to their university’s website or housing department for guidance. Also, when you advertise on the university’s housing site, you’re more likely to be considered a trusted source, rather than an ad found on Craigslist.
If you’re interested in attracting more college students to your properties, read our post on how to “Successfully Market to Student Tenants.”