Pros And Cons Of Renting To College Students
When renting out an apartment or a home, a landowner needs to keep a lot of things in mind. One of the most important things they have to consider is the kind of client they wish to give their rental home to. Most people looking for homes on rent are college students who have moved from a different location. They look for reasonable housing options.
Here is a look at why college students make good tenants, or not.
Pros:
They don’t really want too many amenities beyond hot water, electricity, and comfortable beds. They don’t mind if the house is not entirely furnished or the owner hasn’t been able to maintain it and keep it in a condition as good as new.
There is an extremely high demand for rental homes amongst college students. They pay good value for decent homes. Often the rent from them is higher as they have roommates so an owner has multiple tenants on one lease.
The payments are stable as it is often unlikely that the students will pay their own rent. It often comes in from their parents or guardians until they get proper jobs.
College students look for homes situated near their educational institutions. Their word of mouth abilities and constant use of social media can spread the news of a new vacancy far and wide.
Cons:
College students have no employment, rental, or credit history so it is often difficult to get information on how good they will be as potential tenants.
Youngsters are not particularly experienced at maintaining property either, so it is likely that a landowner might find a couple of dislodged shelves on occasion.
There are often a few noise complaints that are targeted to apartments rented by college students due to their penchant for music, enjoying themselves in groups, or watching shows loudly.
There may not be people willing to take an apartment on rent during summer
College students are ideally good candidates as tenants, especially in Bangalore, India, which is a hub for college students to study well. The cons can be worked out by adding certain clauses on the lease agreement that restrict tenants from doing certain things.
Keywords: rental homes, apartment on rent, landowner, tenants, vacancy, college student