Renting to College Students | San Diego Property Management Education

There are a lot of reasons that San Diego is considered America’s Finest City, and one of the reasons that makes it such a good market for investors is the diversity of tenants. You’ll be renting to military members, professionals, families, and students. 

More than 20 colleges and universities can be found in San Diego and the surrounding areas, including San Diego State University and the University of San Diego. If you have not considered the benefits of renting to college students, you may be missing out on a potentially large tenant pool. 

There are special considerations that you’ll need to take into account, however. We’re covering some of those in today’s blog.

Why Rent to San Diego Students?

A lot of rental property owners try to avoid students because they assume these tenants are messy, irresponsible, and more apt to party than study. This is rarely true, however, and our experience as professional San Diego property managers has demonstrated that tenants today have really matured and hardly match any of the stereotypes. 

There’s actually a lot to gain from renting to students, including:

• You’ll always have a strong pool of tenants. Young adults will always go to schools like SDSU, UCSD and USD, and they’ll always need a place to live. Vacancy will not be a problem. 
• You may be able to charge more rent since most student rentals come with a larger number of tenants. Most college students live with roommates. With three or four students contributing to rent instead of just one person renting the property, you have a little extra insurance when it comes to collecting higher rents on time. 
• Investing in upgrades isn’t always necessary. While you need to provide a clean, habitable, and functional home, students aren’t as interested in upgrades and updates as other tenants. Stainless steel appliances and wood floors will not be necessary. 

Protecting Your San Diego Investment Property

If you like the idea of renting to students but you’re worried about the time it will take and the expertise it will require, consider working with a San Diego property management company. This will provide the peace of mind you need and it will also ensure that your student tenants are held accountable. 

We will make sure that you have a strong lease agreement in place, and we’ll be proactive about enforcing it. When the student tenants aren’t financially secure enough to rent their own homes, we will collect information on guarantors, such as parents, so that we can hold someone accountable for any damage or unpaid rent. 

A property manager will make sure that your tenants understand their role in maintaining the property, paying rent, and adhering to the lease terms. 

A lot of these students are renting a property for the first time. They may be confused about the way things work; landlords have to be patient and willing to educate them. For example, one must be specific when discussing how to request maintenance and pay rent.