As you move forward with the process of buying another Houston Texas Rental Property you will eventually have to ask yourself the question if you should rent your property to a college student or not.
Although some landlords may tell you that it’s not a good idea to rent to a college student the truth is that you can establish a consistent and profitable income stream when you choose to open your Houston Rental up to college students and not just traditional renters.
In this post we will share with you some of the benefits of renting to college students and what else you should know when you start renting to this segment of the rental market.
Benefits of Renting To College Students
Some of the benefits that come from renting to college students include:
Year-Round Occupancy – Since most college students go to school for 4 years they will also will many times want to stay in the same rental property during the time that they are going to college and this means year-round occupancy for the landlord and less turnover.
You Can Charge Premium Rent – Another great benefit of renting to college students is that you can charge premium rent especially the closer your Houston Texas Rental Property is to the university or college, and most tenants won’t have a problem paying premium rent especially if they live with roommates.
Getting Started With Renting To College Students
Before placing an ad online to rent to college students you should do the following:
- Create an airtight lease that protects your best interests.
- Create strict rules for your property including no fireworks, weapons or drugs in the house and no charcoal grills outside the house.
- Always do a complete background check before approving a new college student to rent from you including viewing their credit report because this will only protect your best interests.
- Require college students under the age of 21 to have co-signer on their lease just to make sure you will continue to get paid each month even if they don’t pay their rent.
To learn more about renting your Houston Texas Rental Property to college students contact Vestpro Residential Services, LLC today by calling us at (832) 498-0016 or click here to connect with us online.