If you’re a real estate investor, you may be wondering if Portland Oregon student rentals make a good real estate investment? The answer to this question is yes!
Portland Oregon is without a doubt one of the top college towns in the United States thanks the University of Portland, Concordia University, Portland State University and of course Lewis and Clark College.
People come to Portland every single year for the specific purpose of going to college here so one of the things that they will of course need is a place to live.
What To Look For When Investing In Student Housing
During the process of investing in student housing, the same principles apply that you would use when investing in traditional rental properties.
You should be looking for potential student housing that’s close to the highway and all major sources of public transportation. The average student is going to need some way to get to and from school and work so it’s best to make your rental property is as easy and convenient for them as possible.
Besides investing in student housing that’s in a convenient location and is close to public transportation, you should also look for student housing that’s in a “walkable” location that’s also close to shops, stores and things to do in the area.
The Pros Of Investing In Student Housing
As we mentioned already in this article, you can pretty much bank on there always being a demand for student housing in Portland and other towns that are in the PDX area.
Besides the information that we’ve already offered you, some of the other reasons that you should consider investing in student housing include the following:
Easy to fill vacancies – One of the first benefits that you will enjoy when investing in student housing is that it’s going to be easier to fill vacancies in your student housing property. Why? Word of vacancies travels fast in the student community and it’s likely that you will start receiving calls from interested students about your vacancy before you start marketing it for rent.
It’s a “turnkey” investment – From the moment that you invest in Portland Oregon student rentals, you can expect to literally have the ability to be renting to students from day one. These types of rentals are without a doubt one of the very best TurnKey rentals available because of the demand for them compared to traditional rentals which can take up to 30 days or longer to fill a vacancy.
International Students – Another great reason to invest in student rentals is international students. Every year many international students come to the United States from countries like China, Japan, and India for their bachelor’s degrees or advanced degrees. International students also pay higher tuition costs than students who were born in the United States. This means that they offer a lucrative, stable, base of renters who will provide you with rental income that you can depend on
What Are The Cons Of Student Housing?
So far we’ve mentioned a lot of prose or reasons why you should consider investing in student housing. Although student housing makes an ideal real estate investment, the reality is that there are several cons that you should consider before investing in a student rental property
Age Of The Renters – Since most students will be living on their own for the first time, you will need to make them aware of the rules for your rental property and be prepared to follow through with enforcing those rules if one or more of your student renters violates them.
Wear And Tear – With the average age of most students these days it’s also likely that maintenance can become an issue. You may find yourself having to spend more time and money replacing flooring, painting, repairing walls, and replacing appliances or fixtures since many students like to have parties and enjoy themselves at times.
Hire A Portland Oregon Property Management Company To Manage Your Student Rentals
Yes, Portland Oregon Student Rentals will indeed make a great investment since they are essential “recession-proof” and always in demand but they can require more work than traditional rentals especially if you plan on managing them yourself.
The key to success with owning student rentals is to hire a professional property management company like Rent Portland Homes. Our company makes owning rental properties easy. We will take the “heavy lifting” off your shoulders so you won’t have to deal with any property management tasks yourself.
To learn more about the services we can offer you, contact us today by clicking here to connect with us online.