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The Rising Demand for Student Housing Means Profits for Investors

Mention college to most parents, and their first thought is mostly likely how much it will cost. But a growing number of savvy real estate investors--parents or not--are thinking of college as a way to make money rather than spend it because students all need a place to live. Three key demographic, sociological, and economic factors are coming together to create a lucrative trend for student housing investors.

"First of all, more than 80 million people will turn 18 over the next decade," says Michael H. Zaransky, author of Profit by Investing in Student Housing: Cash in on the Campus Housing Shortage (Kaplan Publishing). "Second, more young people are pursing college educations than ever before. Finally, state budget deficits are causing a serious shortfall in university-owned housing. Someone is clearly going to make money from the convergence of trends--so why shouldn't it be you?"

The budgets of colleges and universities across the country are stretched by the demands of funding enrollment, research, and hiring more professors. In many areas, older dorms are being torn down and replaced with new classrooms, reducing the availability of campus housing. Increasingly, these schools are looking to the private market to supply off-campus housing.

You can approach the student housing market from two primary angles: as an investor who owns property and provides the housing or by managing properties for other owners. Zaransky says the easiest and lowest-cost way to get started in the student housing business is to purchase a single-family home or condo in a college town and rent it to students. However, keep in mind that aging housing stock may not have the amenities today's students demand. Your chances of success are increased when your properties offer student tenants spacious rooms, private baths, air conditioning, storage, cable television, and high-speed internet access.

Zaransky offers these tips for investors:

The property should be located near a school with a low bed-to-student ratio. Zaransky says that the national average school-owned housing capacity is 30.12 percent of the total student population, which means almost 70 percent of college students need to find some type of off-campus living quarters.

- Think public, not private. Private universities tend to apply greater restrictions on housing and may even require students to live on campus. Housing for public university students will usually make more economic sense.

Avoid schools located in large cities. Typically these schools have a significant number of part-time students and commuters who don't need housing.

Approach areas with a substantial amount of new construction and an abundance of property opportunities with caution. Zaransky prefers to invest in areas where property is hard to come by. He points out that too many owners wanting to sell at the same time could be an indication that they are having difficulty finding tenants.

Be sure your NOI projections make sense. Be thorough in calculating your estimated net operating income; don't overlook any potential source of income or expense.

Student housing can be difficult if you are going to live off campus but the trend today is to find affordable housing in a student community. One of the advantages of student community is that you will meet students from all over the world. You also will have an apartment that is guaranteed to have the amenities that you find important.

As you are looking for student housing it is a good idea to make sure you know what to look for in your search. When you find a student community you can be sure that most of them won't have broker fees or lease deposits to further your expenses and you can be sure there will be no hidden costs.

Students are usually looking for modern conveniences within their housing area and they want it to be a different experience than what they had in the dorm. However, it must also be affordable. This is why a student community may work best instead of just finding an apartment off campus.

If you are interested in a private bedroom and bath, spacious living areas and fully equipped kitchens then you can find these things within a student community. Many student housing communities offer the things that you need to stay in your location for however long your student life takes you to do. They offer Internet connections and sometimes you will feel like you are living in a resort.

Many universities are asking private developers to help them come up with a concept to create a student housing program. The basic reason is they want to retain students. One good way to retain students, besides offering them the curriculum choices they need is to give them a great living experience.

Most student communities have taken into consideration the specific needs of students. This student housing is close to campus and is near shopping areas where you can purchase groceries and other things you need easily.

As you are looking for a place to live, another good idea is to decide what you need. Would a residence hall provide you with what you need or a traditional apartment? If so most colleges offer these options. Both of these have their pros and cons. As an example, a residence hall can be a great place to live because you are round other students. However, sometimes this option is noisy and if you want privacy it will be difficult to find.

Sometimes students who are freshmen or who transfer into the university will not have the option of living off campus in their own apartment until their second year.

One of the ways to find student housing though, is to go online. You can find a variety of choices and you can check out the college or university's policy for off campus housing.

Rooms In The City, Inc Student housing New York City - 646-355-2926 Links

For those that do not commute from home, there are all sorts of other lodging situations college students might find themselves living in during the university years. These include on-campus facilities and off-campus homes that are owned by the university, as well as independently-acquired accommodation.

Residence Halls

One major category of student housing is the residence hall, sometimes called a dormitory or "dorm." These can be co-ed or separated into male and female halls. They range in quality, style, and size, but have several features in common from school to school. Rooms are ordinarily fairly small and come furnished, usually simply. It's not uncommon for students to have one or multiple roommates, but some rooms are singles. Others are arranged in "suites" with shared bathrooms and/or living areas for several pairs of pupils.

Frequently, there are shared bathrooms (single gender or coed) on each floor, but some accommodations have individual bathrooms in each room.

Dorms typically include common areas for study and relaxation on each floor, and often cafeterias as well.

The cost for student housing is separate from the cost of tuition and can get quite pricey, but many universities provide economical options.

Depending on the college, residence halls might be available for all pupils. However, they are most commonly associated with freshmen. In fact, some institutions only provide them for freshmen. Many find living on-campus in a dormitory makes it easier to meet new friends, especially for those students coming to a brand new school with new people, often far away from home. Also, dorms usually organize recreational activities and club events, in addition to providing other opportunities for socializing and enjoying extra-curricular activities. They typically house a few older students called RA's (Residents Assistants) who supervise the new attendants and provide guidance for adjusting to the university life.

On-Campus Apartments

Another type of on-campus student housing is the university-owned apartment. For those who would prefer to feel a little more independent, this is a great choice. This option allows students to enjoy more privacy and separation from campus, as well as have a choice of their housemates. While the university manages the property and provides much of the resources for finding the housing, students can still embrace some of the aspects of the off-campus life without the daunting tasks like dealing with landlords, etc.

Frat/Sorority Houses and More

Many schools have variations of dorms and on-campus apartments, such as fraternity or sorority houses. These are communal student housing facilities lived in by the members of the same Greek organization. Similar situations exist for certain clubs, honor societies, and even for scholars wishing to only speak a certain language in order to improve their fluency.

Off-Campus Student Housing

Then, there is always the option of living in an apartment or house that isn't owned by your educational institution. This can be a more cost-effective option, but it requires a lot more independent planning and research. It's best to strike out on your own once you feel comfortable in your new environment and have people to live with.

Benefits of Living in Student Housing

With the increasing number of young adults enrolling in colleges, most universities throughout the country have decided to offer student housing either on campus and or close to it. There are many benefits of living in student housing, especially your first year attending at the college. There are also many social and academic benefits of these living situations.

-Students that live right on campus in student housing, have higher graduations rates than their fellow classmates that reside off campus or at home. A number of factors could be the cause of this trend; one of the main factors is that there is no alcohol allowed on campus in student housing. With no alcohol permitted, partying is not as convenient as it could be living with friends off campus.

-Students that live in the on campus student housing tend to have more involvement with campus activities, such as clubs and committees. Any time that you take part in any extracurricular activity you are making your college experience more enjoyable and building your resume. With being right on campus the students are more willing to try new things. Students may not be as aware of the campus activities if not living close to or on campus.

-Safety on campus will always surpass any that you could get in an off campus apartment. Universities have campus police that patrol around the units on every campus.

-Living on campus also allows you to save money. If you are on campus in student housing you will not need to drive to class. With gas prices on the raise, it could be one of the top money saving options.

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