What to Expect When Renting to Younger Tenants

steelbridge realty llc

For many landlords, the thought of renting out to younger tenants can be fear-inducing. Here is a list of What to Expect When Renting to Younger Tenants. Younger tenants tend to be less stationary and so you may worry that you won’t always be able to keep the apartment full. However, on the other hand, having younger tenants can be a great financial move if you’re prepared.

What to Expect When Renting to Younger Tenants: They Have Pets

A lot of younger tenants—whether young families or young professionals—have pets. And you as a landlord must understand what having a pet could entail for your property. Future tenants with pets must purchase pet insurance to cover the cost of damaged floors, walls, etc.

You may also consider charging tenants pet rent. Having a fee added on to monthly rent will not only increase your profits, but it will also allow you to have a bit more money to work with after tenants leave to more fully deep clean the apartment.

They Want Mobile Payments

Another important thing to think about when it comes to having younger tenants is their preferred method of payment. Luckily, having mobile payment options tends to be a great option for you as well. Mobile payments are fast and secure ways to get rent on time.

Many mobile payment options allow tenants to set up automatic payments so that they literally will never miss a month. But if you are in a situation where you don’t necessarily have the resources to set up a mobile payment option, consider using free resources like Venmo.

What to Expect When Renting to Younger Tenants: Co-Signers

When it comes to renting to young tenants like college students, you will likely find that many of your prospective tenants won’t be able to qualify on their own for your apartment. As such, they will likely have parents or other individuals act as co-signers.

As a landlord, you must prepare yourself to customize lease agreements to accommodate these different signing situations. Allowing cosigning will be a huge protection to you as the landlord because you’ll have greater assurance that you’ll get the necessary payments every month. And allowing cosigning also allows you to attract more potential tenants.

Having younger tenants can be awesome. Generally, you’ll have high demand with younger tenants who are constantly looking for places that are friendly for young professionals. But as you start to gear your rentals towards younger tenants, don’t forget these things. Preparing yourself will help you have a great experience with your tenants.

Read this next: Features That Will Attract Younger Buyers to Your Home

 Steelbridge Realty LLC  is a Licensed Real Estate Brokerage that utilizes cutting-edge marketing techniques and data-driven Real Estate solutions in today’s ever-changing environment. Our group of professionals have decades of experience and have navigated through many business cycles. Our diverse background gives us the tools to guide people towards successful decisions.

 



 

$5,600,000
Single Family Home For Sale
Pending
5
BEDS
6
TOTAL BATHS
7,000
SQFT
3336 West Riverside Dr
Fort Myers, FL 33901
Riverside Subdivision
New Listing - a week online
$1,795,000
Land For Sale
Active
0.4175
ACRES
LEE
COUNTY
3508 Stuart Ct
Fort Myers, FL 33901
York Manor Subdivision
$5,800,000
Land For Sale
Active
1.3945
ACRES
LEE
COUNTY
1215 & 1233 Braman Ave
Fort Myers, FL 33901
Fort Myers Subdivision
$15,950,000
Single Family Home For Sale
Active
4
BEDS
9
TOTAL BATHS
10,033
SQFT
1240 Coconut Dr
Fort Myers, FL 33901
Palm Gardens Subdivision
New Listing - 2 weeks online
$890,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
3,467
SQFT
1249 Osceola Dr
Fort Myers, FL 33901
Riverside Subdivision
$750,000
Single Family Home For Sale
Pending With Contingencies
4
BEDS
2
TOTAL BATHS
2,173
SQFT
1250 Braman Ave
Fort Myers, FL 33901
Becklers Riverside Add Subdivision
$2,450,000
Single Family Home For Sale
Pending With Contingencies
3
BEDS
4
TOTAL BATHS
3,138
SQFT
1209 Coconut Dr
Fort Myers, FL 33901
Fort Myers Subdivision
New Listing - 2 weeks online
$1,595,000
Single Family Home For Sale
Active
4
BEDS
5
TOTAL BATHS
3,848
SQFT
1266 Gasparilla Dr
Fort Myers, FL 33901
York Manor Subdivision
Price Change - 17 hours ago
$620,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
2,503
SQFT
1362 Braman Avenue
Fort Myers, FL 33901
Becklers Riverside Add Subdivision
$1,995,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
4,684
SQFT
3232 Mcgregor Blvd
Fort Myers, FL 33901
Riverside Subdivision
New Listing - 3 days online
$1,377,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
3,589
SQFT
1344 Shadow Ln
Fort Myers, FL 33901
Country Club Estates Subdivision
$475,000
Single Family Home For Sale
Pending
4
BEDS
2
TOTAL BATHS
2,542
SQFT
1377 Coconut Dr
Fort Myers, FL 33901
Palm Gardens Subdivision
Price Change - 3 days ago
$650,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
1,950
SQFT
1250 Sunbury Dr
Fort Myers, FL 33901
La Chelle Manor Subdivision
$6,000,000
Single Family Home For Sale
Active
5
BEDS
5
TOTAL BATHS
7,719
SQFT
2844 Valencia Way
Fort Myers, FL 33901
Lynns Add Subdivision
New Listing - 5 hours online
$989,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
2,829
SQFT
1388 Shadow Ln
Fort Myers, FL 33901
Country Club Estates Subdivision
Price Change - 2 weeks ago
$499,000
Single Family Home For Sale
Active
3
BEDS
4
TOTAL BATHS
1,784
SQFT
1414 Alhambra Dr
Fort Myers, FL 33901
Fort Myers Subdivision
New Listing - 3 weeks online
$5,900,000
Single Family Home For Sale
Active
5
BEDS
6
TOTAL BATHS
5,093
SQFT
3914 W Riverside Dr
Fort Myers, FL 33901
Fort Myers Subdivision
Price Change - 4 days ago
$1,385,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
4,848
SQFT
1434 Alhambra Dr
Fort Myers, FL 33901
Palm Gardens Subdivision
New Listing - 4 weeks online
$3,500,000
Single Family Home For Sale
Pending With Contingencies
5
BEDS
6
TOTAL BATHS
3,470
SQFT
3954 W Riverside Dr
Fort Myers, FL 33901
Seminole Estates Subdivision

Leave a Reply