I live in a college town.?ÿ Rental property is always hot.?ÿ I've got friends that make good livings keeping their real estate rented, one owns 25 residences!
Your remark about unmarried couples being at the top of the list is probably spot on, I've heard many stories.?ÿ Interestingly the city has an ordinance (1954) that limits the number of people inhabiting a house or apt. to 3 if they are unrelated.?ÿ I don't know how well the ordinance is enforced because there are plenty of 4 bedroom rentals that are full...
There is little doubt that if I had stayed just a bit longer in your town I would have made an investment in a property. I might do it yet. Rents are high enough and prices low enough. And the university insulates the market from downturns, to a degree.
"Dorm" rates at campus are around 550 a month and higher.?ÿ Any private residence rent can be anticipated to follow that formula (as a starting point): 2 bedrooms = $1100?ÿ - 3 bedrooms = $1650...etc.?ÿ And if there's parking space or quick access to transportation the price goes up from there.?ÿ
@flga-2-2
You're a good man. ?????ÿ
My brother has a small contracting business.?ÿ He and his wife bought 1 house, remodeled it and lived in it briefly, then bought a bigger one and moved to that.?ÿ They rent out the first one now to a married couple with a teenager and apparently they're quality tenants.
I warned him about the horror stories but he's like whatever, if they destroy it I know how to rebuild the entire thing.
