Renting to College Students

In our last post we discussed renting to college students and offering off campus housing. I'm sure many of you need to clear your throats at the thought of renting to college students however it can be VERY lucrative and more secure than you think.

Sure college students are a little harder on a house than families and they don't have any credit, or care for credit to check to see how they pay their bills. - this could work in your favor.

• College students don't have credit & in most cases have family members pay for tuition and housing- why not make the parent/guardian co-sign?
• With college rentals you could have 3 or 4 sources of income per property. With a family if the main member loses his job you could be facing a serious problem
• College students don't care for properties well, we know this and so do they. Because of that they pay a premium for off campus housing.
  
• Low vacancy rate with college rentals.
  
• Turn overs can be relatively easy when students are from out of state. This leaves the summer months typically open for any repairs WHILE you collect rent

Any thoughts?