FAQ's by Landlords Using Places4Students.com - Part 1

Monday, January 18, 2021

Blog Image

During each year, our Places4Students.com staff receives various questions from landlords about renting their properties to students. Below are five of the Top 10 FAQ’s we have been asked since our off-campus housing service began in 2003.

 

  1. When is the best time to list our rental property?

Students are typically looking for housing accommodations several months prior to the beginning of their semester at school.  There are usually last-minute students looking shortly before school begins as well.  During the course of each semester, some students will be looking for another rental property, due to a change in circumstances or roommates.

Although the early winter and spring/summer months tend to be the busiest, students are generally looking for places to rent year-round.

 

  1. What rental rate should I be listing my property for?

Although there is not a precise, black and white response to this, there are some key factors to consider. There are a wide variety of unique rental units, so we always suggest landlords do some research and reflect on multiple criteria before deciding.

  • How many rooms are available?
  • Amenities and luxuries that are provided
  • Inclusion or exclusion of utilities, wireless internet, meals, laundry etc.

Our most common recommendation to landlords when setting or reviewing the rental rate is to examine what others are charging in close proximity, with similar unit types and amenities offered.

 

  1. Should I include utilities in the rental rate?

In most cases, students will prefer all-inclusive rentals for a variety of reasons (specifically students without much rental experience). If renting all-inclusive, landlords can charge an increased rental rate to cover the utility expenses. It’s also recommended to discuss utility usage with tenants or to set utility caps beforehand.

 

  1. What is the difference between a single-unit and multiple-unit listing?

A single-unit listing is a single dwelling with one or more bedrooms, or the entire dwelling for rent. (For example, a house, bedroom(s) in a house, an individual apartment, a condo, half of a duplex, a cottage, etc.).

  • A single-unit property will have one address only.
  • This property can be landlord/owner occupied (unless the entire dwelling is for rent).

A multiple-unit listing will be chosen if your property is a building with two or more units for rent, where each unit is separate. (For example, an apartment building, a condo complex, a lodging house, a duplex, etc.).

  • A multiple-unit property will have apartment #s or unit #s.
  • This property will rarely be landlord/owner occupied (unless the landlord lives in a separate unit).
     
  1. How do I verify the applicants are indeed students?

If a landlord wishes to verify the student status of an applicant, it is recommended to request a copy of their acceptance letter from the college or university that they will be attending. If you have been contacted by email, you can also confirm by checking the email address (is the domain the school’s name?). Landlords are encouraged to reach out to us if there are any concerns or questions. 

 

SEE ALSO:  Why Landlords Should Care About Roommate Conflict



The Places4Students.com Team