The count and number of international students studying in the U.S. keep growing year after year, establishing a new opportunity for Delta rental property owners. If you own or would like to own rental property near one of the many universities that attract international students, you may be wondering how to go about renting to them. International students have various requirements compared to local renters, which means that understanding those needs and requirements is a vital component of effectively renting to this substantial renter demographic.
Seemingly the most important thing to know concerning renting to international students is that they often search for accommodations before they arrive in the United States. The more data you can provide relating to your rental online, the more profitably you can rent to international students.
At least, take into account creating a simple website with multiple up-to-date photos of your rental property. Additionally, finding a method to allow applications online will give your efforts and work a big boost. To increase your reach even farther, list your property on rental websites, and draw attention to what makes it ideal for international students.
One scheme to attract the interest of international students is to rent your property at least partially furnished. Some international students need a house full of furniture by the time they get to the U.S. Furnishing your rental home with a few basics can create a much more appealing option for most other renters. The furniture you choose shall have to be simple but sturdy, leaving room for the students to add their own personal touches.
One more thing you can bring about to draw international students to your rental property is to present short-term or month-to-month leases. Though most international students might be planning to live here for at least a year, maybe more, others might only be visiting for a semester at a time. Presenting more flexible leases can assure that you keep your vacancies filled and your tenant’s needs satisfied, also.
Once the applications start coming in, you’ll need a way to screen them. This process should be different from local renters given that international students won’t have a Social Security number or U.S. driver’s license. Certain things you can do is to request financial information, as an example a bank statement, and run their name through criminal databases in their home country.
It’s significant to perceive that most international students have spent a lot of time and money on their plans to study in the U.S., and because of this are much less apt to become involved in many of the more destructive college student behaviors (throwing big parties, for example). Various property owners prefer to rent to international students as opposed to local students considering they tend to be more responsible and conscientious renters.
There are over 1 million international students in the U.S., which presents ample opportunities for rental property owners going in search of tapping into a new rental market. But as it happens, to do so, you will have to take steps to position your rental property accordingly.
If you’re looking for someone to take over the hard work of advertising, tenant screening, and more, consider speaking to Real Property Management Now. Our Delta property managers are experts in the industry and can make owning rental properties a hassle-free experience. Contact us online or call us at 970-314-7123 and let us take the work off of your shoulders today.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
