School is back in session! As a company specializing in rental property in San Antonio, we know that many students prefer to live outside the dormitories, and would rather rent an efficient, one-bedroom apartment, or even a single-family home with other students. Many students are experiencing new independence and freedom for the first time as they enter into adulthood, and most young adults have minimal experience with renting a property and maintaining it. However, if you own property in a college town, the upside is this almost always means low or no vacancies in your rental properties.
What Do College Students Look for In Rental Properties?
Many San Antonio rental property management companies advertise properties that appeal to college students, but what makes some properties stand out above others?
- Lower rent – Many college students choose to live with roommates to reduce living expenses, and are most attracted to lower-rent properties due to their school expenses and limited working hours. If you own low-rent property or rent rooms out to individual students, you may have more people interested in your properties.
- Safety – Safety is always an important factor, especially if an individual is living alone for the first time. Security features like alarm systems, ample outdoor lighting, and off-street parking may appeal to college students. Many students will choose rental properties further from campus if the area is safer.
- Laundry facilities – Many students lack the funds to make routine trips to the laundromat (every quarter matters when you’re a college student!). Properties with on-site laundry facilities, especially in the unit itself, is sure to attract more interested tenants.
- Location – College students appreciate the freedom of living off-campus, but look for rentals that are within walking distance to class. If you own rental property near campus, it is unlikely that your property will remain vacant when the school year starts.
Special Considerations for Renting to College Students
Renting to college students comes with its unique challenges. While having rental property near campus won’t have as many vacancies, renting property to college students is often much different from renting to other types of potential tenants.
- Students are tougher on rentals – Often, student rentals will have more wear and tear than other types of tenants due to the short-term nature of their stay, and their inexperience in maintaining a home. However, students are less likely to require anything fancy or ultra-modern in their apartments, so if you’ve got a less up-to-date property, student tenants may be a great fit. Property management companies ensure that your building stays in good repair, inside and out.
- Noise – College students have a reputation for being noisy tenants. When renting to students, property managers must make every effort to ensure that other tenants aren’t disturbed, and to enforce any language in the lease that requires tenants to keep noise levels to a minimum.
Overall, college students prove to be a consistent source of income to property owners. New students enter the market every year wanting a safe, affordable place to stay, conveniently located near campus. It goes without saying that there is significant value in owning student-friendly rental property.
Why Choose Pyramis Company For Your San Antonio Rental Property Management
At Pyramis Company, our knowledgeable, experienced, and highly trained team of property managers is dedicated to client satisfaction. From advertising your property to full-service maintenance, we are here to help. Contact us today to see why when it comes to rental property management, San Antonio property owners choose Pyramis Company.