How to Get More College Student Tenants
There are pros and cons to getting tenants that are college students.
On one hand, if things go smoothly, that guarantees you around 4 years of tenancy. Even after, there’s a steady demand for rental properties in areas where universities are located.
On the other hand, it’s not always rainbows and butterflies with college students, because there’s always the chance that they’ll damage your rental property. The good news is that this is largely avoidable if you do your part and screen your tenants properly.
So, suppose you have a rental property in areas like Wayne County (or any areas that are safe for students and near universities, really!) and you decide that you want more college student tenants. In that case, there are some things you can do to make your property more student-friendly.
What To Do To Attract College Students To Your Rental Property
Here are some of the few changes you can make to attract more college student tenants.
#1 Offer Free Fast Wi-Fi
Technology is everywhere, and almost everyone depends on it—especially students.
Your property would catch the eyes of many students if Wi-Fi is included in the cost of rent. This is one less thing for them to worry about. They wouldn’t have to purchase an internet package or worry about the installation.
#2 Connect With Universities and Their Housing Referral Program
Getting your property on the list of university housing will broaden your student market. It can range from international to out-of-town students.
Although, it’s not the responsibility of the school to screen tenants for you. Don’t forget to take the extra steps to interview, ask for documentation to prove their financial situation, get guarantors, and so on, to make sure that they are qualified tenants for you.
#3 Safety And Security
It’s better to be safe than sorry these days. So, safety and security are among student renters’ top priorities, especially for women.
You can do a few things to make your rental unit safer:
- You can install motion sensor lights so that anytime someone goes near the property, they can easily be seen (and it’s a great deterrent).
- Besides having secure locks, have an alarm system in place so that notifications can be automatically sent to authorities in case of emergencies.
- Lastly, you can install outdoor security cameras for monitoring purposes.
Choose The Right College Student Tenant
It’s one thing to get a college student as a tenant, but another to get a responsible one.
With additional steps and making some changes to your rental property, you can easily change your target market. You can attract as many college students as you want to view your property, but getting the right one is what will let you truly enjoy the perks.
Do you need more tips on managing your rental property in Metro Detroit? Contact us today and find out how we can help.