4 Ways to Attract Top Student Renters

By Aidan Cannon on September 2, 2023

Attracting renters to your property presents a myriad of potential challenges. On the one hand, you want to present your renters with the best possible place to live, but on the other, you don’t want your kindness, services, and time to be taken advantage of. This goes double for when you’re dealing with college-aged kids. It’s likely that the conversations they’re having with you represent their first efforts to find housing for themselves, so they may be confused as to how the renting process works. It’s important that you be patient when fielding their questions, as talking to them will help them gauge how knowledgeable you are as a landlord. Likewise, it will give you the opportunity to evaluate how respectful they will be of your property as tenants. Use this guide to tailor your properties to a college-aged clientele and attract the best renters.

Image from Pixabay 

Include furnishings/utilities

College renters are all about convenience. Their lives are moving a mile a minute; they have to worry about class schedules, homework, tests, clubs, interpersonal relationships, sports, and more. Anything you can do to take responsibilities and decisions off their plate will be met with gratitude since they’re already juggling enough. If you have properties in an area where college renters are common, consider including furnishings and utility bills in the cost of rent. They will appreciate the convenience of not having to shop and pay for furnishings themselves, as well as not having to send separate payments for bills. While these are substantial financial burdens for you to front, the extra accommodations may actually be beneficial to you in the long run, since the inclusion of these furnishings and services will make your listings stand out to college renters. Additionally, you may be able to better justify having a higher per month rent than other listings since renters would have to source those costs themselves at other properties.

Have storage areas

When college renters move into their new homes, they aren’t just moving a few items; they’re moving their entire lives into a new space. Even as they begin to pack up their belongings, they will quickly realize that they’re taking much more stuff than they originally thought they would. Thus, storage becomes an incredibly attractive advertising point for potential rental properties. You should prioritize storage space in your homes, with lots of drawers, cabinets, and shelves. If possible, you may want to invest in large walk-in closets, allowing renters to bring more of their wardrobe from home, which is definitely an incentive for some people to choose your property. Additionally, if your property has a large garage, make sure to mention this to people when you’re showing the house, as it provides the biggest storage space for renters’ miscellaneous items and can accommodate their cars if they have them. They’ll appreciate the extra space, and it’s not additional storage you have to hire someone to make, a la cabinets, closets, etc.

Advertise location

“Location, location, location.” This phrase has become quite rote since it started being repeated by real estate agents ad nauseam, but it’s one hundred percent true; a property’s location can increase its perceived (and monetary) value. But what does this mean in the context of you renting out your property? When you’re showing your place to potential renters, talk about the surrounding area, making note of any points of interest. For example, if there’s a nearby laundromat, tell renters doing their laundry will be a breeze due to their location. College kids are looking to get out and be social, so proximity to downtown nightlife and bars is also a plus. Having convenience stores nearby is similarly attractive to younger clientele; they can stock up on snacks and caffeine to power through late-night study sessions. Sell your rental property to renters not just as a place to live, but as a way to access the fun activities your town has to offer.

Offer competitive renting rates

The final and most important thing to consider when renting your property out to college students is monthly rent. We live in a time when housing has never been more expensive, and sometimes just finding a place is challenging in itself. Consult the housing market in your area so you can establish a fair rate for your property. If you want to fill your vacancies quickly, consider charging slightly under market value. College kids aren’t made of money, and a lower monthly rent could definitely cause them to overlook other aspects they might not like about your property. If you’re absolutely unable to budge on the cost of rent, consider bundling in utilities as previously mentioned. This will make your property an undeniable value to college renters and help you stand out amongst the competition. Offering fair rent prices will also create customer satisfaction and help you retain renters for years to come.

Owning property is a lot of responsibility. You need to maintain it and attract renters to it so you can make money. Use these four strategies to attract college renters and keep them coming back.

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