Rental properties are an excellent investment to make, especially when purchasing properties that qualify for Athens, OH, university off-campus housing. Students need to live close to campus, so there will always be a demand for your rental property. If you’re looking to invest in this area, here are some tips to maximize your investment.
Research Rent in the Area
If you want to ensure that students rent your property, you need to charge a competitive price for your rental. Do plenty of research into comparable apartments in the area. Remember that properties closer to campus can often charge more for rent, so keep your location in mind.
Be a Good Landlord
Word can spread quickly when the landlord of a property doesn’t do his or her job well. If you fail to do repairs, are overly invasive into your renters’ lives, or a disagreeable landlord in other ways, word will get around and you’ll have a hard time finding renters.
Try to Keep Your Renters
It’s easier to keep your current renters than to constantly have to search for new ones. So if you find good renters, do everything in your power to keep them. Offer incentives for renewing their contract if you can. This is the easiest way to maximize your investment.
If you’re looking for Athens, OH, rental properties, looking close to campus is a good way to find the best investments.