According to the College Board, just under half of all college students live off campus. This means hundreds to thousands of potential tenants looking for a place to live in the vicinity of each school. The stereotypes of renting to college students are well known– they’re untrustworthy, loud, and don’t take care of the property. But if you take the proper steps to protect yourself in advance, there’s no reason renting to college students can’t be a beneficial and even lucrative business move.
Owning and managing a rental property is a never-ending practice in the art of prioritization– what needs to be repaired, what needs to be upgraded, and what needs to be done first. Installing smart technology in your rentals may not be urgent, but the ways in which it can increase your bottom line mean that when you ask yourself, “Should I install a smart thermostat in my rentals?” The short answer is yes.