• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Facebook
  • Twitter
  • YouTube

Owner Login | Tenant Login | Get a quote: 323-255-9400 ext. 4

Los Angeles Property Management Group logo

Los Angeles Property Management Group

Property management in Los Angeles & the Valley, done right.

  • Residential
    • Services Provided
    • Single Family Residence
    • Luxury Property Management
    • Tenant Selection
    • Maintenance
    • Video Marketing Your Property
    • On-Site Managers
    • Agent Referral Program
  • Commercial
    • Services Provided
    • Maintenance
    • Agent Referral Program
  • Why Choose LAPMG
    • Mission Statement
    • Recent Reviews
    • Awards and Recognition
    • Why May 12th Matters
    • True Property Management Horror Stories
    • Video Resources
  • Articles
    • David Crown in Forbes
    • Q & A with CEO David Crown
    • LAPMG Talks
    • Case Studies
    • FAQ
    • Featured Article of the Month
    • Featured Elsewhere
    • Industry Blog
  • Areas Served
    • Burbank
    • Culver City
    • Glendale
    • Hawthorne
    • Inglewood
    • Los Angeles
    • North Hollywood
    • Pasadena
    • San Fernando Valley
    • Santa Monica
    • Sherman Oaks
    • Studio City
    • West Hollywood
  • Contact
    • Our Team
    • Portal Logins
    • Prospective Tenants
    • Employee of the Month
    • Careers
    • Privacy Policy

The Danger in Renting to Students

December 13, 2018

The Danger in Renting to Students

The Danger in Renting to Students

If you are looking to own rental property in a college town, it’s inevitable that you’ll have to deal with student renters. Renting to students comes with many perks. Nonetheless, they can also be a handful, and in this piece, we are going to look at the cons of renting to students:

  1. Negligence in Maintaining the Property

When dealing with students, you have to be aware that this might be the first time they are away from home and on their own. For this reason, they might not know a thing about maintaining property. This could spell trouble on your part. For example, if the students are not neat, you might experience issues with pests or rodents. They might also not be prompt to report to you maintenance issues such as a leaking roof. Small problems might mushroom into big ones if not dealt with immediately. In the end, it could ruin your property or hike the cost of repairs.

  1. Poor Money Management Skills

College students might not be the best at managing their money too. Having lived with their parents or guardians for pretty much their whole lives, this might be the first time they are away from home. This means that they have to learn how to live on a budget because money might be tight. This is often a challenge as they often prioritize trivial things like spending a night out as opposed to spending the money on rent. As such, you might have to evict this tenant midyear for failing to pay rent. It might be a tad difficult to find a new tenant as most of the students at this time will have secured rentals for the rest of the year.

  1. Recurrent Turnover

If your tenant base is mostly students, brace yourself for a yearly turnover. Students will frequently sign leases that cover a short-term depending on the length of their school year. This means that you will find yourself fixing damages to the apartment frequently before new tenants can move in.

  1. Competition

In some cases, the rentals around the educational institution might be more than the students looking for accommodation. This means that the students might be selective as there is a wide choice of rental units. To draw the students to your rentals, you might have to lower your rent.

  1. Difficult in Screening

If you are conscious of the kind of tenants that move into your rentals, it might be difficult to screen students. They are young and therefore might not have an apartment or employment history. In this case, you will have to involve their parent or guardian to co-sign their lease. If they fail to pay rent, the parent will have to meet the rent payment.

  1. Breach of contract

Students might not be too keen on meeting the requirements of their lease agreement. They will get into your hair for disregarding some of the clauses to their lease. For example, you might deal with noise complaints if they host parties at your apartment and play loud music. You might also have to deal with more than the agreed number of people living in the apartments. Hosting frequent visitors will take its toll on your property.

  1. Vacancies in the summer

It will be hard filling vacancies when the students move back home, especially in the summer. In this case, you could have the students sign a lease that covers the whole year. This will include the period that they will not be living there.

Of course student tenants have their advantages and besides, there isn’t a con to them that you can’t deal with. If you are looking to have your property managed, look no further. At lapmg, we offer property management services and leave you to other pursuits. Check us out here.

 

 

Filed Under: Latest News, Projects, Property Management FAQ Tagged With: landlords, property management los angeles, property management tips, renting to students, student housing

Primary Sidebar

    PROPERTY OWNERS: CONTACT US FOR A FAST FREE QUOTE

    (This space is not for tenant contact)








    Loading...

    Footer

    Award-winning management means:

    Best property management in Los Angeles - Our Awards

    • Maximum profits.
    • Responsive service.
    • Vacancies filled quickly.
    • Accurate understandable monthly reports.

    Proud Members of:

    AAGLA AOACA AIR Commercial Real Estate Association Member BOMA 2022 Member of Forbes Real Estate Council

    Contact Information

    
    

    YouTube LAPMG   Facebook LAPMG   Twitter LAPMG

    Los Angeles Property Management Group
    10960 Ventura Boulevard Second Floor
    Los Angeles, CA 91604
    Phone: 323-255-9400
    Contact Us

    Los Angeles Property Management Group is registered with the California Bureau of Real Estate License #01931033.
    Kyle Crown License #01936385
    David Crown License #01157354

    © 2023 Los Angeles Property Management Group · Privacy Policy
    10960 Ventura Boulevard Second Floor, Los Angeles, CA 91604 · Phone: (323) 255-9400
    LAPMG is committed to ensuring digital accessibility for people with disabilities. We are continually improving the user experience for everyone and applying the relevant accessibility standards. If you have any issues, please contact dcrown@lapmg.com.