1. May 10th through July 4th is pretty much a dead period for leasing
2. Move-in gift baskets are worth it. Spending $50 to calm the parents is an incredible ROI.
3. Giving kids 3 levels of pricing on cleaning estimates eliminates lots of complaints on charges upon move-out
4. The academic calendar is the axis that everything in a college town revolves around. Amateurs ignore the calendar. Pros refer to it constantly.
5. The more bedrooms in a house, the better it needs it needs to be. Getting 18 people (6 kids + 12-ish parents) to agree on a 6-bedroom house is 1000x harder than a 2-bedroom.
6. Newbies make the mistake of lowering rents too early and too late. Pre-leasing six months early isn’t a time to panic, but six weeks out is about when you need to start panicking.
7. Vacancy of 12 months is not an option! Take 60 cents on the dollar if you must. Kick the can until next year
8. Until you supplement HVAC with a window AC unit in 2-story houses, you’ll never end the “it’s too hot in here complaints”
9. Pets are fine and open up your tenant pool. You’re going to rent to frat bros named Moose and T-Bone, but you can’t handle their golden retriever?
10. Expect Moms/Dads to know only 10-25% of the whole story when they (angrily) call about any issue
11. A bad sign for a student rental is having to explain the floor plan. “You can use this as a bedroom and this could be the living room” = not good. The floorplan needs to be obvious or they will get real creative
12. A new $10,000 patio is a better investment than a new $20,000 kitchen
13. Every college house should have lots of string lights
14. Do not furnish student rentals
15. Professional pictures! This is a must for the Vibes Generation
16. Kids can’t visualize – houses need to be completed and rent-ready for showings
17. “How do kids know to find you?” Put “Pre-leasing for the 2025-2026 school year” or availability date as the very first thing in your listing
18. Off-Campus FB Housing Groups are the # 1 spot to get market intel (plus see the kinds of parents you’ll be dealing with)
19. The best day in student housing is the day class starts
20. Mediocre property is my least favorite to own. Either pick the best. Or the cheapest. The best is easier to manage, lease, and finance.
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.
