Home Buying in New Brunswick>Question Details

Lei Zhang, Home Buyer in New Jersey

I am thinking of buy a condo/townhouse close to Rugers to rent to the students. Is 1 bedroom easier to rent out than 2 bedrooms (or multifamily)?

Asked by Lei Zhang, New Jersey Thu Jan 5, 2012

What has a better return? (1 bedroom or 2 bedrooms or multifamily)

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Answers

5
Patric Santo Pietro’s answer
Hello Lei,
Multifamily will usually give you the best return in your case for these reasons:
- The cash flow will be better and your vacancy risk will be less since you're not relying on only one rent stream.
- I suspect college students are more likely to live in groups than on their own which makes a one-bedroom less attractive.
- Multifamily properties usually have lower rent rates in comparison to single-unit condos and college students are all about lower rent rates.
- Tenants in single family rentals stay longer and decrease your turnover costs but this is no advantage to you since renting to college students leads to high turnover rates no matter what your property is.

Check out multifamily properties available for sale here: http://search.pspreal.com/i/9425/New_Brunswick_Multifamily

Patric Santo Pietro
Prudential New Jersey Properties
732-570-5442
patric@pspreal.com
Web Reference: http://www.PSPreal.com
0 votes Thank Flag Link Thu Jan 5, 2012
Ding, Ding, Ding... In the Rutgers vicintiy they are all good to rent out!

Of course a multifamily will bring the best return .. but think about the amount of students in one place.. uh, could be a mess! ( I have seen some bad houses) It also depends on pricing of your purchase and location.

There are some good buildings for sale in the area, but it also depends on your pricing.. we all want cheap with a big return.. so, you must continue your due diigence with the right agent and find that right property.
1 vote Thank Flag Link Wed Feb 1, 2012
Rutgers is a great rental market. If you're looking to specifically rent to students I would encourage you to check out the Rutgers University off-campus housing page, and the service they offer to landlords to rent to students: http://ruoffcampus.rutgers.edu/#ochGuide

Places4Students.com is the official off-campus housing partner for Rutgers University, and their off-campus housing page will direct you there. To view the actual Rutgers off-campus page (as students would) you can click on the following link to get an idea of what's being offered in the area to students: https://places4students.com/Places/School.aspx?SchoolID=25pI…

If you've got any questions about renting to Rutgers students feel free to email me zach@places4students.com
1-866-766-0767
0 votes Thank Flag Link Fri Aug 30, 2013
If you are thinking about renting one bedroom that may work well as long as you don't mind someone in your home. In the multi family most likely you will have several students depending on the number of bedrooms and you will also have privacy.
0 votes Thank Flag Link Fri Jan 6, 2012
I too favor mulitifamily. When the student can get room-mates, they can lower their costs, which makes the place doubly attractive. Thinking back to my own children, I can not think of an instance when any of them or their friends lived alone.
0 votes Thank Flag Link Thu Jan 5, 2012
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