If you own rental properties near a student population, such as Dixie State College in St. George, then targeting that population is a sound approach. Stereotypes aside, students tend to be excellent renters who often have less demands than renters in the workforce and who can pay more due to sharing rent among roommates. With that in mind, there are particular amenities that student renters target.
Many students don’t drive so being within walking distance of the school is very attractive and can allow you to raise the rent significantly. Access to mass transportation is also highly valued. Taxi services and the like aren’t because it’s simply too expensive for most students on a regular basis. It can also help to make your property attractive to students who ride bicycles. Consider installing a bike rack for instance.
2. Wi-Fi Connectivity
Modern student life often centers on access to the Internet. You can leave this connectivity to the tenants, but you shouldn’t overlook the potential to make the property more desirable. You can have service from the fastest ISP in town pre-connected, and you can make the home more Wi-Fi friendly by installing additional access points, by installing powerline adapters and by replacing traditional wall outlets with outlets that have Ethernet and USB ports.
3. Security and Safety
Students want to feel safe and secure just like the rest of us, and students tend to be savvy to the fact that crime rates for small crimes tend to be high in areas with large student populations. Consider installing a residential security system that has security cameras, and make sure that the entire property is well-lighted. The cost of service can be passed on to the tenant.
4. Personal Space
Personal space is very important in shared living environments. Ideally, you should market the home based on the number of bedrooms. Any non-bedroom beyond a kitchen and central living area may be unnecessary in a student residence, and you can make the home more attractive by converting those additional rooms into bedrooms.
5. Study Areas
Something else to consider is the need that students have for quiet study areas. A local library or easy access to a college study area can be a big plus. Not having to travel would be an even bigger plus, and one way that you can make a home particularly attractive to students is to have a room set aside as a study area. Features like soundproofing can really sell the idea to potential tenants.