Several students enter colleges and universities across the nation every year. Locations close to colleges and towns have a consistent demand for housing that never fades out. Students are open to houses, duplexes, apartments, etc., over dorms as they can get access to more space and amenities. They get a safe and secure space to live and focus on their studies. Moreover, students generally have lower expectations when it comes to housing compared to conventional renters as they will occupy the space for just some years.
Nelson Partners – Get access to a large tenant pool
Nelson Partners is a credible name in the field of student housing and property management in the USA. It was founded in 2018 by Patrick Nelson, who has over 14 years of rich experience in the real estate industry. According to the team of skilled professionals here, there is always a large population of students in towns and locations near colleges and universities every year. This means you have huge prospects of students coming in at both the community colleges and the local universities in the region.
Get a higher yield of rental income
If students get the chance to live off the campus during their first year at college, several of them will jump at this unique opportunity. While the prices are high, the campus room and the board are higher for these students. It is not uncommon for one to see student housing bringing in more income than similar properties in the real estate market nearby.
Reduced expectations from student renters
The tenant expectations are much less when it comes to adult renters. Several students are living on their own for the first time unless they have resided in a dorm room in the past. Many investors know that their properties do not have to be perfect or pristine when they rent out to students.
College students need a place to study as they mostly spend most of their time indoors. They are not fussy like adult renters or picky when it comes to high-quality amenities and appliances. They generally concentrate on the overall ambiance when it comes to studying, its proximity to the campus, and parking.
There is an intense demand for student rentals in a college town, leading to reduced vacancies in homes on the campus. Students tend to join college or the university annually, and there is always a new student who is searching for a new place to live.
When one owns a rental property, there is a concern of not getting rent collection in time points out Nelson Partners. You will often find to your surprise, that students are not irresponsible. They are reliable like other tenants. They get financial support from their parents, and they ensure the money goes to the landlord as they are focused on their studies. Since many students are living on the property, if one of the tenants fails to pay the check-in time, the others will ensure their payments are made in time.