Managing properties within a college area can be incredibly lucrative. College towns tend to be excellent fodder for property management companies, because the high maintenance nature of these rental properties often provoke landlords into seeking out professional help. Landlords and property management companies need to anticipate some challenges when renting to college students, but overall it is usually a profitable endeavor.
May through September are typically the months when most tenants seek new apartment homes, with July and August being the highest volume months. Spring’s arrival signals it’s time for property managers to prepare for increased traffic to view vacancies and to commit resources to encourage lease renewal numbers.
The National Cable and Telecommunications Association (NCTA) announced that capabilities for high-speed broadband service is making impressive strides. As of June (2013), almost 93% of US residents had access to high-speed Internet, cable television programming and cable-based home telephone service.
Good tenant screening is absolutely essential for successful property management. A few extra hours screening tenants thoroughly can save you days, weeks or even months of headaches down the line. There are many new services available through 2014 that will help you in conducting thorough tenant screenings, and there are some tips that are always relevant.
If you own a rental property near a university or community college, then it’s likely that there’s an abundant pool of students who are looking for off-campus housing. You may have avoided this demographic because for any numbers of reasons, such as their lack of credit history, uncertainty during summer months, and individuality.