As a Leander property manager, you recognize how frustrating attracting tenants can be. In the student housing market, it can be even harder to compete against dorms. However, with the right tips and strategies, you can attract quality student renters and maximize your profits. This article will discuss ten tips to help you stand out against the competition and attract quality student renters!
1. Advertise online
Most students begin their search for housing online. Make sure your rental property is listed on all major websites, such as Zillow, Trulia, and HotPads. In addition to online listings, you should promote your rental property on social media platforms like Facebook and Instagram.
2. Offer furnished units
Many students are not interested in bringing furniture with them to college. Provide furnished units or permit tenants to rent furniture from you. This will make your units more desirable to potential renters.
3. Install a washer & dryer
Students do not want to trek down to the laundromat whenever they want to wash their clothes. Having a washer and dryer in your rental property will enhance its appeal to potential renters. It may also save you money in the long run.
4. Include utilities in the rent
Most students are on a tight budget and are searching for alternatives to save money. Including utilities in the rent can make your units more reasonably priced and inviting to potential renters.
5. Offer flexible lease terms
College students often have different schedules from year to year. Provide flexible lease terms so tenants can reside for as long or short as they want.
6. Provide extra amenities
The majority of students are searching for rental homes that offer amenities such as a nearby gym, pool, or public transportation. If you can provide or highlight these amenities, you will be more effective in attracting potential renters.
7. Location, location, location
College students love to be close to campus and all the action. It is important that your units are in a prime location so tenants can simply get where they need to go. If your rental property is a bit farther away, remember to offer information on bus or train routes that will get students to campus.
8. Sell a lifestyle, not just a room
College students desire to dwell in an exciting and vibrant community. Make sure to market your units as being in a desirable location with plenty of things to do nearby. Try to include information about local hotspots and activities in your listing.
9. Offer extra storage space
College students often have a lot of possessions, so adding extra storage space may help make your listing stand out. If your rental property has many closets, a garage, or a shed, highlight that in your listing.
10. Add security
Students like to feel safe in their homes, so add security features like deadbolts, keyless entry pads, security doorbells and cameras, and other low-priced products. These strategies will help put tenants’ minds at ease and may even assist you with attracting higher-paying renters.
Competing against the dorms for student renters can be a challenging part of owning rental properties. Yet, by utilizing these tips, you can more straightforwardly attract quality student renters and maximize your profits!
Would you want to learn more about maximizing your rental property’s potential in the student housing market? Real Property Management All Connect 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.
