In the world of real estate, you never know where your next big opportunity will come from. You may invest a certain way for years and then out of the blue be presented with something more appealing, and profitable. It is important to keep an open mind and be willing to at least explore every option.
If you are like most investors a student housing rental was not a consideration for your portfolio. In fact, you probably heard horror stories of bad tenants and wanted nothing to do with these properties. The reality is while some of these stories may be true, they are often highly exaggerated. A student rental is no worse than any other property you rent to strangers. In fact, with parents signing the lease it may offer even greater protection than you are used to. Student rentals come with their share of potential problems and pitfalls, but they also carry an enormous upside. Before blindly balking at a student housing rental here are four reasons you should reconsider.
Student rentals come with their share of phone calls and seemingly ridiculous questions. You are renting to 19-21-year old’s who have never lived away from home before. The reality is that answering or dealing with these issues doesn’t take more than a few minutes and for the increased rent is well worth it. If you have the opportunity to pursue a property near a college or university don’t ignore it based on perception. A good student housing rental can be a great addition to your portfolio.