Asheville Property Management on How to Invest in Student Housing

One of the best ways to be successful in Asheville rental property management is to invest in student housing. The student housing market is less susceptible to the effects of economic downturns than is the market for single-family homes, or even the rental market at large, because student enrollment is usually increasing steadily at any given college. There are at least ten institutions of higher learning in the Asheville area, so you will have a large pool of student tenants for years to come. The fact that public colleges are financially strapped means they are becoming more reliant on private housing to accommodate all their students.

Rental management in Asheville for student housing is a little bit different from rental management for the general population but not drastically so. When looking for a property to purchase, make sure that it is very close to a college. You might be surprised at the significant number of students who lack cars, and even those who do have a car may want to use it only for long trips to save money and reduce emission of greenhouse gasses. Because many college students like to live in groups, look for houses that have four or five bedrooms. You can usually generate more money from a group of students than from a family because each student will contribute a significant amount of money to the rent, whereas a family will usually have no more than two people contributing to the rent.

Renting to students requires a bit more hands-on attention, if only because students are more mobile than the general population. Don’t let that deter you from investing though; you can hire an Asheville property management company experienced in renting to students.

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