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Because of the new interest in property investments, Ali Ata is often asked about the properties that would be best to invest in. One of the common questions involves whether a property in a college town is worth investing in. It’s a great question: with the pandemic having depleted the nation’s college towns of their bustling foot traffic and activity, it’s interesting to know if it’s still worth it.
Because of the new interest in property investments, Ali Ata is often asked about the properties that would be best to invest in. One of the common questions involves whether a property in a college town is worth investing in. It’s a great question: with the pandemic having depleted the nation’s college towns of their bustling foot traffic and activity, it’s interesting to know if it’s still worth it.
But there are plenty of benefits to investing in a college town property.
High demand
There is still a high demand for residential property in general, and that includes college town properties. And as the country slowly begins to reopen, Ali Ata has found that college town residentials remain highly in demand for faculty, staff, students, and more.
A consistent stream of tenancy
College towns are essentially machines that churn out college students and staff every year. The demand for living spaces has always been high, and they will consistently remain high even if the tenancy is more transient than other places. As students graduate, more of them move in and keep spaces filled, maintaining your rental income.
Good average rental rates
The consistent tenancy and high demand in college towns ensure that the average rental rates remain more stable than in other places. Ali Ata explains that this stability ensures that you won’t just maintain your rental income, but the payment will be more resistant to changes in the market average.
Low marketing expenses
Because there will always be people seeking out a residence or a property in college towns, you barely have to do any marketing at all. Just advertising locally that you have rooms available will draw a slew of calls and interest right away. Unlike other areas that require specialized marketing and ads, you won’t have to do so for a college town property.
Ali Ata adds that while a college town property seems perfect, you can’t rest easy. Timing is still critical. It’s best to advertise at high-traffic times when students and staff seek out lodging, primarily during the summer. Check for local ordinances and be mindful that many of your tenants will be young and likely unruly, so prepare a maintenance budget. If you’ve got all your bases covered, then your college town investment should provide you with income smoothly for years to come.
Ali Ata adds that while a college town property seems perfect, you can’t rest easy. Timing is still critical. It’s best to advertise at high-traffic times when students and staff seek out lodging, primarily during the summer. Check for local ordinances and be mindful that many of your tenants will be young and likely unruly, so prepare a maintenance budget. If you’ve got all your bases covered, then your college town investment should provide you with income smoothly for years to come.
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