When is the Best Time to Buy a Student Rental?

 

 

Certain months of the year are definitely better for buying a student rental.

December & January

These two months are the best time of the year to buy a student investment property. The reason for this is most students want to secure their rental place before they are finished the school year, which is sometime in April. The students that start looking early in January tend to be the students that are more responsible & organized. They tend to make better tenants than the ones that leave it to the very last minute.

When you buy in January or December, you should put your closing as April 30th, and put in the offer that you want to be able to view the property six times. Use those viewings to find the students you are going to rent to. Many investors hold rental open houses to get multiple groups of students through in a short period of time.

February & March

The second best time of year to purchase a rental would be February and March. At this time of year, there is lots of inventory but you’re in a more competitive real estate market, and a lot of the students have already found their rentals.

July & August

The third best time of year to buy a student rental would be over the summer months. You can then start renting it in September. At this point you’re typically renting to individual students. It’s typically not a group of people that know each other, and that sometimes can lead to higher turnover.

Click here to learn more about choosing the best neighbourhood for a student rental!

If you’re thinking of buying a student rental, contact us, so we can help you make a quality real estate decision.