Should you turn your Fort Collins home into a CSU student rental?
With interest rates at their highest in years, it is a difficult time to consider selling your property. In light of this, renting out properties has become an increasingly attractive option. This is particularly relevant for properties located in Fort Collins near Colorado State University (CSU), where there is a consistent demand for student housing. Therefore if you’re planning a move, you may be wondering if you should consider renting your home in Fort Collins to CSU students rather than selling.
CSU is foundational to the Fort Collins community, and a substantial portion of its student body live off-campus. In fact, according to US News & World Report, 77% of CSU students choose to reside off-campus, creating a robust rental market for nearby properties. The average student property rent for a 3 or 4 bedroom single-family home in the area is approximately $2,573 per month according to our analysis, providing a potentially steady and lucrative income stream for property owners.
Renting to CSU students can be a strategic way to cover mortgage payments and other expenses while waiting for the market to improve. The demand for off-campus housing is robust, providing a consistent pool of potential renters. This can offer property owners a steady income stream, helping to mitigate the financial strain of high interest rates.
Of course, renting to college students presents unique considerations. The tenant base is more transient, with leases typically aligning with the academic calendar. It's crucial to establish clear rental agreements and set expectations regarding property maintenance and conduct. However, these challenges can be effectively managed with the right support.
Mascot Property Management is here to assist property owners in making the process of renting to college students hassle-free. We specialize in managing student rentals, from finding reliable tenants to handling maintenance issues. Our expertise ensures that your property is well-maintained and your rental income is maximized.
Curious how much your property could make as a student rental? Check out our breakdown of 2024 Fort Collins Student Rental Rates by Neighborhood.
In conclusion, renting to CSU students is a viable option for property owners in Fort Collins. The high demand and attractive rental rates make it a lucrative strategy. With Mascot Property Management by your side, you can navigate the unique challenges of student rentals with ease and confidence. Let us help you make the most of your property while you wait for the market to improve.
