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In my experience, the key is setting clear expectations up front, having a solid lease, and maybe doing more regular check-ins or property inspections. Most college renters are respectful, especially when parents are involved, and those extra protections (like a cosigner) go a long way. If you’ve been struggling to find tenants, this can be a good option, but trust your instincts in the end. This is just my opinion.
I’m a residential/ commercial cleaner.
I have 6 groups of collage/ university students that I do bi-weekly cleans for they all groups of boys except 1 apartment which is girls.. and I will say this newer generation from what I can see over the last year of cleaning for them and the extra random cleans I have done for students, are doing really well, sure floors need a good mop when I go and under the stove burners and behind toilets but there hasn’t been anything extreme.
I’m not saying every student out there is going to be well kept and tidy but if parents are willing to co-sign and you do quarterly inspections I think it could work out well.
Are you able to meet with them to get a sense of how they are? You could consider raising the security deposit as well.
Yes! I’m sure the parents will pay or get it in writing. Kind of like a guarantor. I’m in NYC that’s normal for college students.
I have a house I rent to students. Don’t allow pets and ban all smoking of anything inside and outside. Make them get renters insurance so you have recourse if something bad happens (I had a renter leave a kitchen window open in the winter and the pipes froze. Luckily nothing burst. But if it had, it would have been a $100k mess.