top of page

Do's and Don'ts for Investors Renting to Students at Binghamton University

January 31st, 2025

By James Lucenti, Licensed Real Estate Salesperson



Thinking about investing in student housing near Binghamton University? With growing enrollment and a steady demand for off-campus housing, this market offers a promising opportunity for real estate investors. Students consistently seek properties close to campus or along major bus routes, making location a critical factor for success. The predictable rental cycles tied to the academic calendar provide a reliable income stream, while strategic upgrades like modern amenities or furnished options can significantly boost rental income and property value. Whether you're a seasoned investor or exploring this niche for the first time, the Binghamton student housing market has the potential to deliver both steady returns and long-term growth. Ready to take the next step? Let’s connect!


If you're an investor renting housing to Binghamton University students, here are tips to maximize returns, attract students, and minimize headaches:



1. Research the Student Market:

  • Understand the needs of BU students, including proximity to campus, bus lines, and popular student amenities like Downtown Binghamton and University Plaza.


2. Offer Competitive Amenities:

  • Include high-speed internet, in-unit laundry, and furnished options (beds, desks, chairs). These are highly valued by students.

  • Consider branding yourself and giving your students free gear (water bottles, coffee mugs, pads, pens, etc.) with your logo and contact information.


3. Maintain Safety and Security:

  • Install exterior lighting, security cameras, and smoke/carbon monoxide detectors. Highlight these features in your marketing to reassure students and their families.

  • Changing over key locks to combo keypads will save you those 2 am lockout calls.


4. Understand Local Housing Laws:

  • Stay compliant with Broome County rental regulations, including occupancy limits and zoning restrictions. Contact us for a better understanding of student housing zoning restrictions.

  • Make sure you are following Fair Housing regulations: NYS Fair Housing Notice


5. Have a Clear Lease Agreement:

  • Specify rules for noise, maintenance responsibilities, subletting, and security deposits. Use plain language to ensure students understand their obligations.

  • Have your lease reviewed and make sure you have all the required forms. Contact us for sample leases and a list of required forms.

  • Insist on 12-month leases. Many students are gone for the summer months, but still insist on a 12-month lease


6. Screen Students Thoroughly:

  • Check credit, references, and guarantors (usually parents). Consider requiring a cosigner to reduce risk. Many students won’t have established credit scores. Having parents as cosigners can add additional security to your investment.

  • Do not require application fees. This deters many students.


7. Keep the Property in Good Condition:

  • Regular maintenance ensures satisfied students and protects your investment. Respond quickly to repair requests.

  • Consider using rental management software for payment and maintenance requests, such as AppFolio.


8. Advertise Effectively:

  • Market on multiple platforms, flyers with QR codes around campus, Zillow, and student Facebook sites. There are many paid sites as well including: apartments.com, Places4Students, and uloop. The university also collaborates with College Pads to provide a dedicated housing database accessible through student's university emails. You can join this service for a fee: Click here!

  • For a list of student housing Facebook pages, listing websites and marketing strategies contact us today.

  • Highlight proximity to BU and student-friendly features.

  • Most students sign leases several months before the academic year starts.

  • Market your property early to secure students.


9. Foster Good Relationships:

  • Communicate clearly and professionally with students. Being approachable can lead to smoother interactions and better property care.

  • Frequent communication with your students is a must. Let your students know what is going on in the community, check it to see how they are doing, and check on the property. I suggest sending out emails twice a month. A little extra attention communicates that you care and are invested. Go the extra mile and throw occasional pizza parties or ice cream socials.

  • Create Shared Spaces: Add communal areas like living rooms or outdoor seating to foster a sense of community and attract groups of friends.



1. Don’t Ignore Proximity to Campus:

  • Properties farther from campus or bus stops may struggle to attract students. Prioritize location near BU or main bus routes. You can get a copy of the “Blue Bus” routes here.


2. Don’t Forget Parental Involvement:

  • Many students rely on parents for financial backing. Be prepared to communicate with them as cosigners or guarantors.


3. Don’t Allow Overcrowding:

  • Have strict occupancy rules outlined in your lease agreement.


4. Don’t Avoid Property Upgrades:

  • Failing to invest in modern amenities like updated appliances or energy-efficient windows can reduce your competitive edge.


5. Don’t Neglect Proper Insurance:

  • Obtain landlord insurance tailored to student housing to cover damages and liability. Require your students to get renters insurance.


6. Don’t Tolerate Mismanagement:

  • If using a property manager, ensure they’re experienced in handling student rentals.


Word of mouth matters in student housing. If you cater to your students, word of mouth will spread and students will seek you out. If you don’t, the opposite can quickly happen. If you're looking to invest in student housing, now is the time to explore the opportunities in Binghamton’s growing market. Check out our latest listings for high-demand student rental properties and discover how SVN Innovative Commercial Advisors can help you secure a smart investment.


What tips do you have to add when considering investing in student housing? For more investment strategies, market updates, news and events follow me on LinkedIn:

All SVN® Offices Independently Owned and Operated

18 views0 comments

Comments

Rated 0 out of 5 stars.
No ratings yet

Add a rating
bottom of page