Benefits Of Having A Property Near A University
The university experience does not always involve students living in dorms on campus. The lifestyle of students varies which makes it possible for some students wanting to have their own apartment. Dorms are not always conducive for students that need privacy, are married or even just want to be away from campus life. This means having a property near a university can be a good investment for landlords. Read through to find out some of the benefits landlords with properties near a university have.
One good aspect about having a property near a university is that you are almost guaranteed that you will find tenants because a new batch of students come in every year. This effective makes it a landlord’s market and as such landlords can afford to screen tenants more thoroughly and be more strict in rental agreements.
This can be a great fear that prevents some landlords from investing in a property near a university. They get scared of students not paying on time, but what they fail to realize is that most students that go in for rental properties are paid by their parents, guardians or other relatives. Even if students are paying for themselves, they will most definitely want to keep up the standard amongst their peers.
Such properties are of high value because apart from the fact that it is obviously near a university, social amenities are in most cases situated near this environment. Transportation, stores, restaurant, gyms and so on are commonly found around universities. The value will also become higher if the university is of well repute.
Even though the majority of renters are students, properties near a university also attract other renters. Professors, lecturers and other staffs of the university also look for places that are near. This can also increase the demand not only from students for the property.
Properties near a university are very good investments because even if the owner wants to sell the property, they encounter little problems. The property has high re-sale value due to the various amenities that are around it.
Even though landlords may be scared of renting to students due to fear of late payment, loud parties and reckless behaviors of some students, it is also true that there are responsible students that will take good care of the property. Some students want to find a secure place they can call home while studying. Therefore to have the best occupants, landlords should do proper screening of students.