6 Ways to Attract Better Tenants in Student Housing

It’s one thing to attract quality tenants. Appealing to quality student tenants is another matter altogether. Thanks to the immature and rowdy reputation that this age group has, some landlords may avoid having them rent their property. They’re missing out because this demographic remains a steady source of renters, especially if a property is near a university, college, or other type of academic institution.

The key is to find high-quality student tenants. That way, landlords can avoid the type of people who might cause issues in the long run. At ExactEstate, we’ve got tips to attract better student tenants. Read on and apply this new knowledge for the next enrollment season.

The Challenges of Student Tenants

Only 22% of students live in campus dormitories. Many of them look for lodging outside of their school. However, students aren’t your typical tenants. There are several challenges you might have to face when you have many of them as your residents.

Behavioral Issues

One of the biggest drawbacks of student property management is tenants who tend to party or make loud noises during weekends. It’s not a unique thing; there are older tenants who can behave this way. But the chances of this happening are much higher when you have student residents.

Issues With Rent

Many students don’t have a steady source of income. They might also be prioritizing payments for their studies. Thanks to these factors, many student tenants can get behind on rent. As the landlord or property manager, you might need to set up a few contingencies to ensure that tenants are able to pay rent in time.

Specialized Needs

Many students require a space where they can focus on their studies. In addition, many of them have never lived outside of their parent’s homes. They don’t have many appliances for convenient living, so many of them look for a place where they have access to these items.

Tips To Attract Better Student Residents

Here are some things you can try incorporating into your property and property management strategies to make your listings more appealing.

1. Make Convenience a Priority

As we’ve mentioned, many students don’t have access to amenities they once enjoyed at their parent’s homes. So, make sure that you include washers and dryers, internet, and other home furnishings that will make life easier for them.

Keep in mind that students aren’t looking for anything luxurious. Many of them are on a budget, so don’t go overboard with the inclusions. Just add enough so that your property feels like a student dormitory.

2. Add Quiet or Study Areas

If there’s one common thing that all students need, it’s a place where they can review lessons, prepare for exams, or finish reports. While they can do this in their rooms, there might be times when nearby tenants or their roommates are noisy. Residents will need a dedicated space where they can get the peace and quiet they need.

You can create areas away from places with huge foot traffic or busy locations. In some cases, you can advertise the entirety of your property as a place that’s far from busy streets or noisy downtown areas. It’s one of the biggest advantages you can offer to students who are looking for off-campus locations.

3. Market on Social Media

Given how students belong to a younger age group, many of them have some sort of digital presence. So, traditional marketing strategies like print ads may not be as effective for them compared to regular tenants. That’s why you need to market on major social media platforms like TikTok or Instagram to ensure maximum reach. We don’t recommend investing too much in Facebook, as news has mentioned a number of younger people leaving the platform.

You can make your marketing efforts more manageable with tools like ExactEstate. We’ve teamed up with companies like RentPath and used Apartments.com and added marketing integrations in our software to make things more streamlined and easy to track.

4. Work With the Nearby University or College

Most universities and colleges have housing referral programs, especially when they have very limited dormitory slots. You can ask to be included in this program. To be in one, you might need to accomplish a few requirements — nothing too hard. But, what you get is the coveted approval, recommendation, and advertisement from established institutions.

You’ll still need to screen your applicants, however. It won’t be the university’s job to ensure that the students finding your listings are high-quality tenants. So, we recommend doing background checks, asking for character references, and double-checking academic program information to ensure that an applicant will become a high-quality tenant.

5. Improve Security

Many students want a place where they can feel safe and secure. This is especially true for female student tenants, who also value their privacy. So, to give tenants and their parents peace of mind, make sure your property has security upgrades. These can include:

• Secure locks and alarm systems against intruders.
• Adequate lighting, especially in isolated areas or places with low foot traffic. Don’t forget to add porch lights, motion sensors, and emergency lights.
• Clear and highly visible surroundings. Avoid tall trees and thick shrubbery that can obstruct views and pathways during emergencies.

6. Use a Comprehensive Property Management Software

Student property management can be a complex process, especially if you’re a landlord supervising tenants without the help of property managers or staff. It might prove difficult and inefficient to do things on your own, which can lead to dissatisfaction from your tenants. So, take advantage of property management software like ExactEstate to make things easier for you.

These programs can do so much of the work for you. They can automate repeated tasks, collect and manage tenant information, and serve as a central database for all your daily operations. What’s more, some have innovative integrations that can handle other processes like marketing and payments.

Take Advantage of ExactEstate

Make student property management easier and more convenient with a dedicated software like ExactEstate. It has many features that will make your day-to-day operations more streamlined, resulting in happier tenants, a better reputation, and increased revenue.

• Marketing Integration: The ExactEstate software allows you to launch and monitor ad campaigns across various platforms.

• Resident Portal: Having a place where tenants can request maintenance, find announcements, and accomplish requirements will improve their satisfaction.

• Online Payments: We’ve partnered with Swipe4Free to make rent collection effortless.

• Centralized Database: The software can serve as a centralized database where you include tenant information and data, making tracking and reporting easier.

Ready to try the advantages of ExactEstate today? Request a demo now and learn how it works!