Looking at obtaining rental property in a college town …
question is, I found two homes side by side, but zoned single family. Would it be possible to rent these to college students or do I have to go through the city and get it rezoned. Also, I wouldn’t use them as mutlifamily either, just rent the 4 bedrooms in the house.
many college towns have ordiances that can restrict the number of unrelated people living together in a house so renting out each bedrooms separately might not be possible. just call the city building department; I’m sure they can help you out in a 5-10 phone call.
Thats exactly what I plan on doing, instead of renting each room out seperatly. I figure it would be better to rent the house as a whole, that way whoever it the primary leasee, is responsible for all the others to pay the rent!
Thanks for the input though!
I hope there is a chance for me to rent them out…or wholesale them!
Twista, actually what I was saying is have everyone’s name on the lease…not just one Primary. If the primary bounces, everyone else is free and clear. List each one separately on the lease with a signature line for each. If one leaves, the other three need to fork up the rent.
Get a decent deposit…a couple hundred bucks is worth a ton to college kids. We were so paranoid about losing $300 each that we actually fixed things ourselves.