Possibly the most important thing to know in connection with renting to international students is that they often search for accommodations before they arrive in the United States. The more complete and detailed information you can provide with regards to your rental online, the more fruitfully you can rent to international students.
At least, think seriously about creating a simple website with many up-to-date photos of your rental property. In addition, finding a simple way to take in applications online will give your actions a big boost. To widen your connection even farther, list your property on rental websites, and draw attention to what makes it ideal for international students.
One approach to truly attract international students is to rent your property at least partially furnished. Most of these international students need to get a house full of furniture when they come to the U.S. Furnishing your rental home with a few basics can create a much more appealing option for these renters. The furniture you opt for must be simple but sturdy, leaving room for the students to add personal touches.
One also effective way you can implement to capture the interest of international students to your rental property is to provide short-term or month-to-month leases. Even supposing several international students are planning to reside here for at least a year, maybe more, others might only be visiting for a semester at a time. Providing more flexible leases can see to it that you actually keep your vacancies lived in and your tenant’s needs properly met, as well.
Once the applications start coming in, you’ll need a way to screen them. This approach can be different from local renters because international students won’t have a Social Security number or U.S. driver’s license. A small number of things you can work on is to request financial information, as for instance bank statements, and run their name through criminal databases in their home country.
It’s relevant to be mindful that most international students have utilized a great deal of time and money on their likelihood to study in the U.S., and because of this are far less inclined to undertake most of the more destructive college student behaviors (throwing big parties, for example). Plenty of property owners prefer to rent to international students as opposed to local students given the fact that they may generally be more responsible and conscientious renters.
There are over 1 million international students in the U.S., which presents ample opportunities for rental property owners trying to tap into a new rental market. But undoubtedly, in order to do so, you will have to take steps to position your rental property accordingly.
If you’re looking for someone to take over the hard work of advertising, tenant screening, and more, consider speaking to Real Property Management Champion. Our Wrightsville Beach property managers are experts in the industry and can make owning rental properties a hassle-free experience. Contact us online or call us at 910-782-4488 and let us take the work off of your shoulders today.