The International Student MarketMarch 16th, 2014 by The JetSetter Team | Comments Off on The International Student Market
These days, everybody is completing a study abroad program as part of the undergrad experience. For a semester, year, or sometimes longer, students leave their home country in search of an international course of study. These students make up a growing percentage of student populations abroad and present a great opportunity for owners of real estate.
If you’ve listened to Jason Hartman and are continually diversifying your portfolio, you may already have international property. While many students stay in campus dormitories, a growing number of students studying abroad are looking for a more independent, cultural experience. These students often make perfect renters.
Many of these students (and their parents) are looking to invest in more than just education. Parents will often consider either buying or renting a nice property for their students, especially if they’re interested in studying for a long period of time. The types of countries many western students choose to study in are also great tourist destinations, which means family will visit often.
As a property owner, renting to international students can be a great choice for a couple of reasons. Often, they’re connected to networks that will continue to supply a steady stream of renters. It may be possible to get your property listed on a college website for students studying abroad. Also, these students tend to be responsible. They’ve elected to live independently in another country, so you have great renters.
Next, you’ll likely be able to charge for rent in one lump sum at the beginning of the lease term. They’ll know how long they’ll be staying in a particular country, and be planning on paying for rent up front anyway (most dormitories demand it).
To start, get in contact with the school nearest the university where you own property and see which US-based schools they work with on study abroad programs. Contact someone in the Admissions or Study Abroad office, and start making those connections!
(photo credit: Tony Wu via photopin cc)
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