Is Your College Rental Property Market Ready?

Are you considering renting a room or home for college students this fall? If so, you are going to be competing with a lot of other renters in the Santa Clara area. This means that you will need to set your rental property apart and make it as attractive as possible for those who may be renting from you in the fall. It is a given that you will need to have the property cleaned and accurately advertised as furnished or unfurnished so that potential occupants will know what to expect. Here are a few tips to help you get your property ready for college students by focusing on their particular needs.

Space

For the most part, college students generally require less space than couples or families, so look over the room that you have and consider adding more tenants. College students are interested in saving money, so if another room can be rented out, so much the better. Remember to check the local laws, rules and regulations on just how many people can live on your property. But generally speaking if you can make space for another student, then you should certainly consider it as it will add to your bottom line.

Accentuate the Positive

Basically, what makes your property attractive to college students is what you will need to emphasize. For the most part, it will be the proximity to the college itself. However, if other colleges or universities are also within a reasonable distance you’ll want to advertise for them as well. Beyond location is what features of the property itself would appeal to a young college student. For the most part, college students will want an internet-friendly area, so consider having free Wi-Fi as part of the package. Wi-Fi is generally inexpensive and takes one less burden off of a college student to pay.

Transportation

In addition to location, meeting their transportation needs is also a must. Just how near is the property to mass transportation sites. Even if they have their own vehicle, knowing that they are close to the trolley that can take them to the college in case their car breaks down can be very important. So in your advertisements be sure that all types of transportation to the college is accounted.

Find the Right Property Management Santa Clara Company

Having your rental properties managed by the right management firm brings you peace of mind. While they do charge a fee for their services, the advantages that they bring are considerable.

Conduct background checks
Run advertising
Manage the property, including vacancies and evictions

Of all the advantages that having a property management Santa Clara company brings, arguably the best one is that it puts some emotional distance between you and the tenant which offers more clarity to a particular situation that you otherwise would be uncomfortable. Remember, renting out your property to college students offers a chance to earn a considerable amount of money, but it also means preparing your property in the right manner. So, be sure to take all the steps necessary to prepare your property.