As a Kuna property manager, you understand how difficult it is to find tenants. Competition against dorms is even more difficult in the student housing market. However, with the proper advice and strategies, you can attract high-quality student renters and maximize your profits. This article will discuss ten tips for standing out from the competition and attracting quality student renters!
1. Advertise online
Most students begin their housing search online. Ensure that your rental property is listed on every major website, including Zillow, HotPads, and Trulia. You should also promote your rental property on social media sites such as Facebook and Instagram.
2. Offer furnished units
Many college students have no interest in bringing furniture with them. Allow tenants to rent furniture from you or offer furnished units. This will increase the desirability of your units to potential renters.
3. Install a washer & dryer
Students do not want to go to the laundromat every time they need to do laundry. Renters will be more interested in your rental if it has a washer and dryer. It may also save you money over time.
4. Include utilities in the rent
Many students have limited financial resources and are looking for ways to save money. Renting your units with utilities included can make them more affordable and appealing to potential tenants.
5. Offer flexible lease terms
Year-to-year schedule changes are common among college students. Offer flexible lease terms, allowing tenants to stay for as long or as short a time as necessary.
6. Provide extra amenities
Many students are looking for rental homes with amenities like a gym, pool, or public transportation nearby. You will be more likely to attract potential renters if you can provide or highlight these features.
7. Location, location, location
College students want to be close to the action on campus. Ensure that your units are in a convenient location so that tenants can get where they need to go quickly. If your rental property is a bit further away from campus, be sure to provide information on bus or train routes that will get students there.
8. Sell a lifestyle, not just a room
College students want to be a part of a lively and exciting community. Make sure to position your units as being in a desirable location with plenty of things to do nearby when marketing them. Include information about local attractions and activities in your listing.
9. Offer extra storage space
In light of the fact that college students typically have plenty of belongings, offering additional storage space may help your listing stand out. Highlight the fact that your rental property has numerous closets, a garage, or a shed in the listing.
10. Add security
Add security features such as cameras, security doorbells, keyless entry pads and deadbolts, and other inexpensive items to ensure that students feel safe in their homes. These features will help tenants feel more secure, and they may even help you attract higher-paying tenants.
Competition with dorms over student renters can be an unwelcome aspect of owning rental properties. But if you follow these pointers, you’ll be able to attract better student renters and increase your profits!
Would you like to learn more about maximizing your rental property’s potential in the student housing market? Real Property Management Boise has the answers! Contact us online today.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
