As a Denton property manager, you understand that attracting tenants can be hard. In the student housing market, it can be even more arduous to compete against dorms. However, with the appropriate tips and strategies, you can attract quality student renters and maximize your profits. This article will touch on ten tips to help you stand out against the competition and attract quality student renters!
1. Advertise online
Most students start their search for housing online. Make certain your rental property is listed on all major websites, such as Zillow, Trulia, and HotPads. Apart from online listings, you should market and post your rental property on social media platforms like Facebook and Instagram.
2. Offer furnished units
Plenty of students are not happy to bring furniture with them to college. Present furnished units or allow tenants to rent furniture from you. This will certainly make your units more inviting to potential renters.
3. Install a washer & dryer
Students do not want to trek down to the laundromat whenever they will need to wash their clothes. Having a washer and dryer in your rental property will make it more inviting to potential renters. It may additionally save you money in the long run.
4. Include utilities in the rent
Various students are on a tight budget and are seeking approaches to save money. Including utilities in the rent can make your units more affordable and delightful to potential renters.
5. Offer flexible lease terms
College students often have different schedules from year to year. Offer flexible lease terms so tenants can occupy them for as long or short as they desire.
6. Provide extra amenities
Some students are searching for rental homes that offer amenities, in particular, a nearby gym, pool, or public transportation. If you can provide or highlight these amenities, you will be highly likely to charm and draw in potential renters.
7. Location, location, location
College students yearn to be close to campus and all the action. Make sure your units are in a prime location so tenants can swiftly get to where they want to go. If your rental property is a bit farther away, make certain to offer information on bus or train routes that will get students to campus.
8. Sell a lifestyle, not just a room
College students wish to live in the middle of an exciting and vibrant community. Ensure to market your units as being in a desirable location with quite a lot of things to do nearby. Take into account putting information about local hotspots and activities in your listing.
9. Offer extra storage space
College students oftentimes have a lot of stuff, so providing more storage space may help make your listing stand out. If your rental property has many closets, a garage, or a shed, highlight that in your listing.
10. Add security
Students like to feel safe in their homes, so add security features such as deadbolts, keyless entry pads, security doorbells and cameras, and other cost-effective items. These components will surely help put tenants’ minds at ease and may even actually help you invite higher-paying renters.
Competing against the dorms for student renters can be an unwanted factor in owning rental properties. However, by sticking to these tips, you can attract quality student renters and maximize your profits!
Would you wish to learn more about maximizing your rental property’s potential in the student housing market? Real Property Management Lakeview has the answers! Contact us online today.
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.
