is 1.8 miles too far to pull college kids? - Posted by chris


#1

Posted by Rich-CA on December 11, 2008 at 21:38:28:

You are not describing the kind of area where this is a viable option.


#2

is 1.8 miles too far to pull college kids? - Posted by chris

Posted by chris on December 11, 2008 at 20:07:26:

I have a 5 bedroom in a suburban area. The college is not a separate “campus” area. It is in the city. But for your average undergrad, does almost 2 miles seem too far? I was considering renting out each room. Any advice?
I have an eviction coming up and I fear that I can’t get her out in time for the new semester.


#3

Re: is 1.8 miles too far to pull college kids? - Posted by lamexicanita86

Posted by lamexicanita86 on December 15, 2008 at 20:03:36:

As an investor and college student living in a college town, I can say that 1.5 to 2 miles is not too far. Out here some university housing (the newest and most desirable units) are that far off campus. Other apartments and rentals within a 2 to 3 mile radius are always quick to fill. Just make sure the bus runs near the apartments and the path to the university is bike-able.


#4

Bad story on college town rentals - Posted by John Merchant

Posted by John Merchant on December 13, 2008 at 11:21:51:

I was legally involved, with a REI who’d bought 24 newer apt units in a small college town.

He was so eager to trade out of another property that he took these apts on w/o checking to see IF the college kids could live in his units…and guess what?

Since that college had its own empty dorm rooms, it did NOT allow its undergrads to live off campus!

So check withthe college housing office and learn what they want, where its undergrads are living, what they’re paying, etc.

Much better to work with, versus against, college housing office.


#5

Re: is 1.8 miles too far to pull college kids? - Posted by Anne_ND

Posted by Anne_ND on December 12, 2008 at 09:34:09:

Definitely not too far for college kids, but be sure to check zoning, re: number of unrelated adults who can live there and number of parking spaces required.

I had some rentals in a college town that required one paved off-street parking per bedroom, but also did not allow more than 4 unrelated adults per single family residence.

Anne


#6

Re: is 1.8 miles too far to pull college kids? - Posted by Sailor

Posted by Sailor on December 11, 2008 at 21:02:47:

It depends on the campus. If it is a commuter school, the distance from employment could be more of a factor. Not only should you confer w/the housing office, but you need to check w/your city zoning. For good reasons, many suburban areas have restrictions on the number of unrelated adults in a household. I am not opposed to off-campus housing as a way to make money, as my family did just that for forty + years. However, I have taught on campuses where it just wasn’t legal or viable as a biz model. Note that if you venture down this road you’ll have a lot to learn, some of it the hard way. Check the Archives, as this has been discussed before.

If you would rather remain on good terms w/your neighbors, consider leasing as corporate housing. Larger companies & hospitals often need temporary or longer-term housing. Your nearby university is a good source for visiting professor tenants. I used to have one fully furnished short-term rental property & the tenants were great. They weren’t going to be there for more than ayear so they never put nails in my walls.

Tye


#7

Re: is 1.8 miles too far to pull college kids? - Posted by Brian_Wa

Posted by Brian_Wa on December 11, 2008 at 20:55:47:

Try letting students live there for free, see if distance will be a problem or not…

Brian


#8

Re: is 1.8 miles too far to pull college kids? - Posted by michaela-CA

Posted by michaela-CA on December 11, 2008 at 20:13:03:

Try paying her off.

Offer your house with ‘free workout equipment’ and get a few cheap bikes. 2 miles is just a perfect bike ride :wink:

michaela


#9

Re: is 1.8 miles too far to pull college kids? - Posted by chris

Posted by chris on December 11, 2008 at 21:22:51:

the neighborhood it is in is mixed. There is actually an assisted living house next door. It is not a war zone, but then all of the neighbors are not people I would want to meet either.
I am curious about the corporate housing you mentioned. I would think that would be harder to market than a single family house with 4 bedrooms now. I am sure it would be a good lease option, but my gosh that many possible bedrooms, surely there is a better cash flow opportunity.


#10

Re: is 1.8 miles too far to pull college kids? - Posted by chris

Posted by chris on December 11, 2008 at 20:50:06:

the house does have 1st floor laundry but that is in one of the rooms I hoped would make it a 6 bedroom.


#11

Re: is 1.8 miles too far to pull college kids? - Posted by chris

Posted by chris on December 11, 2008 at 20:47:40:

She won’t move before xmas, but I am concerned about the time frame before the spring semester begins. Worst case I could do a month to month with someone else in there, but I love the bike idea. It is technically a 4 bd upstairs, but there are 2 living rooms and a dining and a kitchen so I am thinking 2 living rooms become (at least one) bedrooms. Or who in college needs a dining room?