Renting to college students can be a great source of recurring income, but there are several factors you need to keep in mind if you decide to go through with it.
Location is absolutely key. While most large colleges have very efficient and effective public transportation designed to get students and employees to and from the campus and its satellites quickly, nothing beats being within walking distance of the main campus. You will be able to charge premium if the students are able to roll out of bed 15 minutes before class and still make it there on time.
Students tend to have little to no credit history, so you are going to want to ask for a parental guarantee. This is a document that states that the parent is ultimately responsible for rent payments. This will greatly reduce the number of deadbeat renters... (Click here to read the rest of this article about renting to college students)
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