Pros and Cons of Renting to Students

The Bay Area is home to over 700,000 students enrolled in college or graduate school, many of whom will need off-campus housing each year. Here are some of the pros and cons of renting to students:

Pros

  • High Demand: There is a constant need for student housing every school year.
  • Higher Rents: Due to the high demand for housing, students may be willing to pay more rent.
  • Third Party Payment: Parents often pay their student’s rent.
  • Word of Mouth Fills Vacancies: Students may seek out convenient rental spaces on their own.
  • Satisfied With Less: Students are looking for temporary spaces to live while they attend school, and may be content with more modest rentals.

Cons

  • Inexperience Renting Property: Students may be less careful with property and late on rental payments.
  • Frequent Turnover: New student renters may need to be found each school year.
  • Competition: Other rental properties may be competing for student tenants, so lower rents may be necessary as incentive.
  • Breaching The Lease: Students may ignore the details of their lease agreement.
  • Summer Vacancies: When students leave for the summer, it may be difficult to fill open properties.

 

To read more about this issue, check out https://www.thebalancesmb.com/pros-and-cons-of-renting-to-students-4156810

 

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