If you decide to invest in student housing below are a few things you ought to put into consideration:
- Your tenants are the executives, treat them like so. The treatment will be mutual and they will give you and your property all the respect that you deserve.
- Never become an absentee landlord. Visibility is key and do your best to create a wonderful relationship with the young adults.
- When it comes to investing, look for an investment property that is no further than two miles radius within the university. Try your best and stay close to the starving student needs, such as closeness to public transit, shopping and what students love most, entertainment joints.
- Check into the campus and make use of the information you gather from the housing office, know which points you can address to market your housing facilities and why students should want to be your residents.
- Make sure that the lease the student signs is also co-signed by either guardians or parents.
- When it is permitted (legally), you can allow post-dated checks.
- Do yourself a favour and only agree to twelve month lease agreements.
- Every year you should do your best and keep the property maintained properly and up to date. Things such as fire and building codes should be top on the list.