You, as an Atwater property manager, know that attracting tenants can be a challenge. Competition against dorms is even more difficult in the student housing market. You can entice good student renters and increase your profits with the right tips and techniques. This article will discuss ten tips for standing out from the competition and attracting quality student renters!
1. Advertise online
Many students start their housing search on the internet. Make sure your rental property is listed on all major real estate websites, including Zillow, Trulia, and HotPads. You should promote your rental property on social media sites such as Instagram and Facebook in addition to online listings.
2. Offer furnished units
Many college students have no interest in bringing furniture with them. Permit tenants to rent furniture from you if they want it furnished. This will increase the desirability of your units to potential renters.
3. Install a washer & dryer
Students do not want to make frequent trips to the laundromat to wash their clothes. Potential renters will be more interested in your rental property if it has a washer and dryer. In the long run, it could save you money.
4. Include utilities in the rent
Many students are on a low budget and are looking for different ways to save money. By including utilities in the rent, you can make your units more affordable and appealing to prospective renters.
5. Offer flexible lease terms
The schedules of college students vary from year to year. Allow tenants to stay as long or as little as they want under flexible lease terms.
6. Provide extra amenities
Many students are searching for rental properties with amenities— convenient access to a gym, a swimming pool, or public transportation. You’ll have a better chance of attracting potential renters if you can provide or highlight these features.
7. Location, location, location
Students prefer to live close to campus and the action. Make sure your units are in a convenient location so tenants can get around quickly. If your rental property is a bit further from campus, be sure to provide information on bus or train routes that students can take to get there.
8. Sell a lifestyle, not just a room
Students desire to reside in a community that is both exciting and vibrant. Make sure to position your units as being in a desirable location with plenty of things to do nearby when marketing them. In your listing, consider including information about local attractions and activities.
9. Offer extra storage space
Because college students often have a lot of belongings, including extra storage space in your listing may help it to stand out. If your rental property has lots of closets, a shed, or a garage, make sure to highlight it in the listing.
10. Add security
Add security features like keyless entry pads, deadbolts, security doorbells and cameras, and other budget-friendly items to make 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. However, if you follow these guidelines, 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 Valley Wide 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.
