Student housing is one of the most popular forms of renting housing on the market today because it's always in demand.
Even though it's taken a hit in the last 12 months, student housing is coming back strong and we can expect to see a huge demand for it in 2022.
In this article we will break down student housing and provide you with an analysis of if you should invest in it or not.
Tips For Investing In Student Housing
Choosing the right property is a key step in a good investment in student housing. Students often want to rent properties that are close to campus, or close to public transit centers. If there are multiple colleges in the area, consider which have growing enrollments, since this will translate to a higher demand for student housing. You'll be able to ask for a higher rent if your property is in a safe neighborhood and has curb appeal. Other amenities that attract homeowners, such as newer appliances and kitchen and bath upgrades, may have less impact on what students are willing to pay for short-term leases.
Once you acquire a student housing property you'll need to market it in order for your investment to pay off. Conventional local marketing will not be as effective as targeted marketing that reaches current and incoming students. Advertise through nearby colleges, most of which will sell ad space on websites or in student newspapers. Be prepared to implement your marketing plan often, since many student tenants move out when they graduate, leaving you with regular vacancies.
As with any rental property, you must decide whether you'll manage your student housing property yourself or hire a manager. If you have time and an inclination for maintenance and small repairs, managing the property yourself can save money. Professional management will cost more but also leave you free to manage other investments or continue working your current job. If you live near a large college or university you may have multiple local options for managers specializing in student housing property.
Contact JD Homes
Once you invest in student housing, don't manage those properties yourself, let our team of trusted property managers manage those properties for you.
To learn more about our property management services, contact us today by calling (770) 506-2630 or click here.
