Do These 5 Things Before Renting to Students in Poughkeepsie, NY
Do you own a student rental or a rental that you are hoping to rent to college students? Why not, sounds like a great idea, right? Take a property, straighten it up, make it look good and keep it safe for them and of course, do it a great price so you can make money and the students can be in a great learning environment?
Here are a few things that the City of Poughkeepsie requires you to do before you actually can place your first rental add or take a deposit:
- What is deemed a student rental? One that is listed to students in any one of the colleges in our area.
- How many students can be in the rental at one time? There can be no more than 3 students in a rental at any given time.
- You will need to apply for a permit, $50 fee, and have an inspection of the property before you can list it, including paying $100 for the inspection.
- You will need to also provide off-street parking for each student. For example, if you rent to two students you will need two off-street parking spots. If you rent to three, three spots, etc.
- When you have the information from your tenants, you will need to list their names, the address of the residence/units, the college that they are attending, along with their contact phone number, and you will need this for each student.
Have you ever rented to college students? Has it been a great experience? Or is it one that you would encourage people to not do?