You, as a Chatham County property manager, know that attracting tenants can be a challenge. In the student housing market, it can be even more difficult to compete with dorms. You can entice good student renters and increase your profits with the right tips and techniques. This article will give ten-pointers to help you get noticed against the competition and attract good student renters!
1. Advertise online
The majority of students start their housing search online. See to it that your rental property is listed on all major rental websites, such as HotPads, Zillow, and Trulia. You should advertise your rental property on social media platforms like Facebook and Instagram in addition to online listings.
2. Offer furnished units
Many students do not want to bring furniture to college with them. Provide furnished units or the option to rent furniture to tenants. This will increase the appeal of your rental units to potential tenants.
3. Install a washer & dryer
Students do not want to make frequent trips to the laundromat to wash their clothes. Including a washer and dryer in your rental property will increase its desirability to prospective tenants. In the long run, it may also save you money.
4. Include utilities in the rent
Most students are on a budget and are looking for ways to cut costs. Renting your units with included utilities can make them more affordable and enticing to potential renters.
5. Offer flexible lease terms
The schedules of college students vary from year to year. Provide flexible lease terms so that tenants can stay as long or as short as necessary.
6. Provide extra amenities
Many students seek rental homes with amenities like a nearby gym, pool, or public transportation. If you can provide or highlight these amenities, you will increase your chances of attracting potential renters.
7. Location, location, location
Students want to be close to the action on campus. Guarantee that your units are situated in an ideal location so that tenants can easily reach their destinations. If your rental property is a little further away from campus, make sure to provide information on bus or train routes that will get students there.
8. Sell a lifestyle, not just a room
Students desire to reside in a community that is both exciting and vibrant. Be sure to market your units as being located in a desirable area with plenty of activities nearby. In your listing, consider including information about local attractions and activities.
9. Offer extra storage space
Offering additional storage space may help your listing stand out, as college students often have plenty of belongings. If your rental place has a lot of closets, a garage, or a shed, be sure to mention it in your listing.
10. Add security
Add security features such as deadbolts, keyless entry pads, security doorbells and cameras, and other cost-friendly items to make students feel safe in their homes. These features will help tenants relax, and they may even help you attract higher-paying tenants.
Owning rental properties and competing against dorms for student renters can be an unpleasant experience. However, by adhering to these suggestions, you can attract quality student renters and optimize your profits!
Would you like to learn more about maximizing your rental property’s potential in the student housing market? Real Property Management Impact 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.
