October 28th, 2008 by AllStudentRentals.com

October 24th, 2008 by AllStudentRentals.com

In most cities, landlords are a little hesitant to raise rent prices by a substantial amount each year. For the most part, they realize that renters have a number of options to choose from, and as a result they want to avoid alienating people by jacking rents whenever they please. Generally, the rental market is controlled by the renters, they have the majority of the power. However, if you live in a college town, this is simply not the case. Property managers in college towns realize that there is a limited supply of quality off-campus housing, and that the supply of college students needing housing is going nowhere but up.

As dorms become crowded and university housing systems are overwhelmed by enormous freshmen classes, the push to find off-campus housing for hundreds of thousands of kids across the country is growing rapidly. Finding an apartment is no longer a matter of searching for what suits you best, it has become, in some cases, a desperate search for anything that you can afford. Property managers in college towns know that decent (and I use that term loosely) apartments and houses are in incredibly high demand and that kids, flush with their parents money, are more than willing to pay for it. I’m not about to say that all property managers are exploitative, however, they certainly know what they have and what it is worth. I have seen average rent prices in my town go up by more than 50% in some cases, to the point where some average 1-bedroom apartments rent for more than $800. I know this doesn’t seem like much for those of you who live in more metropolitan areas, but considering that not long ago in my town you could get a 1-bedroom spot for less than $400, $800 seems like straight extortion. I understand that as things like inflation, gas/commodity prices, insurance premiums, and other expenses all go up that property owners must raise their rents, but I see it happening every semester.

The one factor that doesn’t help this situation at all is the fact that the economy has no real negative effect on the rental housing market. When the economy is great, lots of people need places to rent because they have jobs or they are in school or whatever. When the economy sucks, even more people need places to rent as thousands of former homeowners experience foreclosures and mortgage defaults. No matter what, the property owners collect money, and they are collecting more and more of it each year. It may seem incredibly unfair that rent prices are rising with seemingly no end to how high they will go, and the truth is, that it IS incredibly unfair. However, it is the nature of supply and demand. There is a limited supply of decent housing, especially in college towns, and those who are willing to pay a lot for it will inevitably drive the price up. What can you do? Nothing. Paying rent is one of those things that cannot be avoided. There are ways to get the best for your money however. AllStudentRentals.com was designed to provide renters the opportunity to view hundred of potential properties and find exactly what they are looking for without having to call dozens of property owners, drive around town, and essentially waste time. You can search by price, style, lease term, and dozens of other criteria, so at least you will be comfortable while you are getting raped by high rent prices.

One last thing, to illustrate the idea of raising rents and offering nothing, consider the situation at the house I recently moved out of:

Myself and three others were living in a relatively new 4-bedroom house that was close to campus and in a pretty nice neighborhood. We were paying $1700 a month and the house had all of the things you might desire including central air, washer and dryer, dishwasher, a big backyard, etc. When we moved out of the house, we found out that not only was our landlady raising the rent to $1850, she was also taking out the washer and dryer. It’s as plain as day, more money for less shit. Ridiculous.

October 23rd, 2008 by AllStudentRentals.com

The most competitive time of the year is here again at Cornell, and it has nothing to do with prelims, externships or career fairs. Finally, house hunting season is upon us.

Much attention has been recently paid to the West Campus Residential Initiative, and there’s no doubt the housing overhaul was sorely needed. Still, all this back-patting has distracted us from the fact that West Campus hosts only 1,800 students, while over 50 percent of the University continues to live off campus.

With interest rates on student loans rising and families financially strapped, many students currently turn to off-campus housing as a way to cut costs. And it’s easy to see why. For the 2008-2009 academic year, a double room in any residence hall aside from the Townhouses will cost you $6,950, beginning in August and ending in May. When you subtract the weeks students are closed out of their dorms for winter break, that shared bedroom is costing you about $770 per month. Even in the cutthroat monopoly that is Collegetown, that price will get you some pretty sweet digs — if not Park Place, maybe a nice flat on Linden.

Yet in their rush to save money, many Cornellians end up leaving the dorms for sub-par housing, feeling swindled and saddled with 12-month leases. And for those freshmen unaware that the blood sport of lease-signing begins only a few short weeks after they move in on North, the Greek system can become their only option.

Living in a fraternity or sorority house can be a great experience, but spring rush comes right when students are feeling the pressure to find housing for next fall. West Campus may be great, but the attraction of free beer and (presumably) a bunch of other things can lead freshmen away from Keaton House and toward the hedonism of Greek living. By allowing rush to disrupt freshman year, Cornell is undermining its own Residential Initiative, interfering in the North Campus experience and reducing West Campus to a back-up, not a first choice.

If the University is unable to provide housing for over half its students, it should be willing to take responsibility for making sure rising sophomores are fully aware of their options. A forum should be established for students to post about their own living conditions, whether costs may be negotiable and when their landlords begin showing apartments for next year.

And at the very least, the University should back up its claimed desire to create inclusive communities in upperclassman dorms by finding a way to make those dorms cost competitive with off-campus alternatives. Otherwise, students who need savings the most will be the ones heading for the (East) hills and away from Cornell’s idyllic West Campus system.

Source: The Cornell Daily Sun

Remarks: Living off-campus has many advantages. Students can save money and have a more independent college experience. However, one of the main problems is finding the right apartment, house for rent, or student rental. That’s where AllStudentRentals.com comes into play. Our goal is to make the hunt for off-campus housing as easy and stress free as possible. Although, we currently do not have any listings in the Cornell area, we plan on expanding accross the nation as fast as possible so students nationwide can benefit from our services.

October 22nd, 2008 by AllStudentRentals.com

Having a positive effect on the environment is rapidly becoming the number one concern of do-gooders across the nation. Recycling, while actually a decades old concept, is becoming more prevalent with each passing day, and not just among yuppie SUV drivers hoping to offset their massive carbon footprint. People in college are becoming more and more aware of their responsibility to make at least a small effort in the uphill battle against environmental degradation. The easiest and most economical way to accomplish this is by recycling. Most waste management companies already give you a trash and a recycling can when you sign up for the service, so why not use both for their intended purposes. If you decide that it is simply not worth it to take the time to separate your trash into two bins and get nothing in return, think about this other possibility: recycling can earn you money.

Granted, it is not a lot of money ($0.05 per can, far less for bottles, which are valued by the pound), but it could add up considering the veritable ocean of empty cans that are usually left over after a successful weekend of binge drinking. Everyone has the recycling fantasy in their first year or two of college where they think “Dude if we just save all the bottles and cans from like two weeks of partying, take em down to the work training center, we will make enough money to party for another two weeks!” It’s a great idea, but far from the truth. My first year in college, my roommate and I arrived at this same brilliant conclusion after spending many mornings cleaning up dozens of bottles and cans, so we started collecting. After a couple weeks, we had about 8 full size black garbage bags filled with bottles and cans that were taking up my roommate’s entire closet. We stuffed all that crap into the back of his grandma’s crappy Cadillac, and drove it out to the recycling center.

How much would our dangerous alcohol abuse pay off? We couldn’t wait to take our haul in, get paid off, then go get drunk while feeling wonderful about helping the environment. The moment came, and we were delighted to take hold of the fruits of our labor - all $8.60 of it! All that work, all those hangovers and nights spent violently puking into the bushes in the front of the apartment and we didn’t even walk away with $10. Our experience was unfortunate at best, however, it shouldn’t dissuade all you go getters from attempting this feat on your own. We were amateurs, and didn’t grasp the finer complexities of hoarding recyclable material. First and foremost, we bought too much beer in bottles, when we should have been drinking cans. Bottles are worth about $0.08 a pound, and a pound of bottles is way more than you think.

That being said, how much drinking would you have to do to sustain yourself on recycling? First, let’s assume a few things:

-Your goal is to pay your rent with the money you get from recycling

-Your rent is $500.00

-You have 30 days to accumulate this money

Of course the simple answer is the following:

$500.00 / .05 (per can) = 10,000 cans. That is a lot of drinking for a one month period, but let’s breakdown the actual impact of this task.

10,000 cans / 30 days in a month = 333.33 cans a day

Assuming you sleep for 8 hours a night, that leaves 16 hours in a day for drinking

333.33 / 16 = 20.83 (let’s call it 21) beers per hour that you are awake, which equates to roughly 1 beer every 2.86 minutes. This seems like a recipe for liver failure, alcohol poisoning, and some quality bad decision making. Arguably, it is not the best idea, and considering that fact that buying 10,000 beers would cost roughly $8000 (assuming you bought nothing but 30-packs that have an average cost of $24 a unit), this is probably not the most economical way to save the planet and get your rent paid.

That being said, however, it is still a good idea to recycle whenever possible. Lord knows the garbage company couldn’t make it any easier for you to do it, and it is the least effort you would have to make in order to have a slightly positive impact on the environment.

October 15th, 2008 by AllStudentRentals.com

With three teenagers in the house heading to college in a few years, and several of my friends facing the same demographic, the discussion turns to whether or not it’s a good idea to purchase a house for your student instead of paying for rooming costs.

The College Board reports the average cost increase over the last five years has been about five percent per year. The 2004-05 national average cost for a four year public college or university is $14,640 per year; for a four year private college or university, it is $30,295 per year.

In the last 25 years, college costs have risen at twice and sometimes three times the Consumer Price Index. Over the last decade, after adjusting for inflation, the average four-year public tuition, fees and expenses rose 75 percent for both public and private colleges, according to the College Board, the organization that administers the SAT exams and other entrance programs for its 4,700 member schools.

Where the tuition used to be the primary expense, room and board are playing a significant role in higher education expenses — many times exceeding the cost of tuition. The College Board reports that the average monthly room and board cost is $6,222. Over a nine month school year, it would be roughly $690 per month. Can you do better than that if you own a condo, townhouse, or home in the college town?

Plenty of parents are opting for the home purchase instead of the dorm rental — but that’s not always the best way to go. Before you plop down money to purchase your kid’s “dorm” unit, be sure to run the pros and cons, which are generally dictated by finances and time.

Financial
Here are some questions to answer before moving forward:
• Does the transaction make sense financially at this time in your life?
• Will the purchase create a positive or negative cash flow?
• With that said, would the negative cash flow be less or more than the monthly expense of paying for a dorm room?
• Where is the cost of housing going in the college town?
• What’s your rate of return on your down payment and closing costs over the next four years?
• Will you be able to rent out other rooms besides your student/child to reduce your monthly cost?
• How will this work out for you as far as taxes are concerned?
• Do you have enough reserves to cover the breakdown of the air conditioner, furnace, hot water heater,
appliances, winterizing, cleaning and maintaining of the property (In a dorm or campus housing, these
expenses are covered by the college/university)?

Time
If you decide the investment would be worth the financial expense, then you also need to take a look at time:
• Do you have time, or resources to take care of the property management?
• Who will you call cross-state or inter-state for repairs to the property?
• Who will handle eviction of other students in the house if they fail to pay rent?
• Will your child/student be responsible enough to report, and repair, any breakdowns in the house/investment you’ve made to save money so that the property is maintained and doesn’t become a money pit?

Source: M. Anthony Carr

Remarks: Housing costs are quickly becoming the most expensive aspect of getting a college education, far exceeding the costs of tuition, books, etc. For years, parents of students have been contending with increasing rents, less availability, and the devaluing of their own home investment. Renting has become an effective way to waste money while their children are in college, which is driving this migration towards home and condo ownership among parents of college-bound kids. Renting an apartment for your child for 4 or 5 years will amount to nearly $60,000 by the time they finish college, and investment that will effectively have no visible return other than the degree your kid receives, which may or may not be lucrative for you. Owning, on the other hand, is not all that much more expensive when all is said and done, is a way for your child to improve their credit if you use a Kiddie Condo loan from the FHA, and is an investment that could to continue to provide returns long after your child graduates from college.

October 15th, 2008 by AllStudentRentals.com

A glance at college enrollment figures over the last few decades shows some dramatic trends. Shortly before World War II, only approximately 160,000 Americans were in college. But thanks to 1944’s Servicemen’s Readjustment Act, better known as the G.I. Bill of Rights, in the years immediately after the war, approximately 2.2 million military veterans went to college. A few decades later, a swell of
“Baby Boomers” born between 1946 and 1964 crowded college campuses; enrollment rose to nearly eight million in 1970.

Now, get ready for the Millenials, because colleges across the country certainly are. Many of this group of 75 million children of Baby Boomers, also known as the “Echo Boomers”, will be attending college this decade, and this surge of incoming college students is capturing the interest of real estate professionals because providing private off-campus rental housing to these college students can be a great investment opportunity. But even if your firm does not focus on providing student housing, trends in this market will likely affect you in the years to come.

Why Student Housing is a growing market

There are several reasons why many real estate professionals are becoming interested in
investing in student housing:

• That wave of Echo Boomers will be filling college classrooms for years to come. The National Center for Education Statistics projects that college enrollment will grow by 11% between 2003 and 2013.
• College enrollment trends are even better than generational demographic trends–for most of the years between 1995 and 2014, the growth rate in college enrollees is expected to exceed the growth rate of 18 to 24 year olds.
• Today’s college students are taking longer to graduate, so they need student housing for a longer time. According to the report Trends in College Pricing 2005 from the nonprofit organization the College Board, almost 40% of today’s undergraduates are older than 24.
• Higher education tends to be less affected by economic trends. The reason for this is simple: when the economy is slow, people seek a college degree to improve their marketability in the job market; when times are good, a college degree is an important credential.
• The median rent increase among student housing apartments has been higher than the rent component of the Consumer Price Index over the last two years, according to National Multi Housing Council (NMHC) calculations.

Our findings Two years ago, NMHC took our first look at the student housing market niche by examining 64 “college towns” across the country to see what the demand for student housing was at that time–and what price the market was allowing. To build on that research, we returned to those same 64 college towns this year to look at rent growth between 2004 and 2006.

To get a helicopter-level view, we calculated a median rate of 7% overall across all 64 markets and across all the different types of units (studio, one-bedroom apartments, two-bedroom apartments, etc.). This 7% growth rate slightly exceeds the 6.5% growth in the Consume Price Index’s broader rental measure during the same period, indicating healthy rent growth in student housing.

Of course, such a broad median figure is only a starting point. Before investing in a particular college town, it pays to do your homework. Not surprisingly, of the 64 college towns we examined, many of those that recorded the biggest rent growth between 2004 and 2006 were in areas with already high housing costs. With some of the highest housing costs in the country for both rental and owned housing, California’s
student housing picture mirrors those high housing costs.

For example, Stanford University has the highest rents for units with two bedrooms and two bathrooms as well as those with three bedrooms and two baths; $2,069 and $2,534, respectively. And the University of California at Irvine has the highest monthly rents for studio ($1,394), one-bedroom ($1,481), and two-bedroom, one-bathroom ($1,637) apartments.

Important Implications for the Future No longer content with one shared bathroom per hallway and a single TV lounge, the Millenials starting college in 2006 expect the full range of amenities in their accommodations; cable television, high-speed Internet and fitness centers are some of the luxuries they demand. So, studying student housing can provide an important lesson for developers and operators of all
multifamily housing. When today’s students graduate, they are going to demand the same amenities in their post-college housing–in other words, since today’s students are tomorrow’s apartment renters, the entire industry is wise to pay close attention to what today’s students are seeking in their housing.

Source: GlobeSt.com

Remarks: This article highlights an ongoing trend in American education culture. More and more kids are entering higher education environments every year, and the simple fact is that there is not enough room for all of them. This excess of young people puts a strain on overburdened college housing departments who expect the private market to make up the difference in available beds. This can be seen as a blessing and a curse for the surrounding community, but it offer amazing investment potential for those who are willing to take a chance. Student housing has a reputation as high risk based solely on the perceived attitudes of young people. While it may be true that investing in student housing carries some risk that is unheard of in other situations, the payoff can more than compensate for this fact.

October 15th, 2008 by AllStudentRentals.com

According to Michael Zaransky, co-CEO of Prime Property Investors based in Northbrook, Ill., and author of Profit by Investing in Student Housing: Cash In On the Campus Housing Shortage, the opportunity has staying power. “About 80 million ‘echo boomers’ will turn eighteen over the next ten years,” he says. As they do, they will head to college in record numbers, further straining their chosen school’s already stretched budgets, especially if it is a public university.

“After funding enrollment, research, and hiring more professors, there is not enough money left for building dorms,” explains Donna Preiss, founder and CEO of The Preiss Company, which rents, manages and develops investor-funded student housing. This is why many schools are relying on the private market to supply off-campus housing instead.

That is a good thing for Howard and her husband who own a rental building close to campus. “So far, our building has been a very good investment,’ adds Howard, whose business —managing student housing investments for other owners — is also thriving as students scramble to find a place to live.
Not only is full occupancy typical for student housing, says Zaransky, so is the ability to increase rents. The students show up regardless of local unemployment or interest rate levels, and they pay the going rate since they have to live somewhere — besides adding roommates can keep even increased rents affordable.
That this niche operates primarily on supply and demand is its key attraction to investors. Also key is its positive cash flow despite hefty expenses — real estate taxes, high insurance premiums (reflective of the reputation of student renters), utilities, repair, maintenance, advertising and fees for management services.
But not all college towns or investment opportunities are created equal. Like any investment, selecting a property requires some homework.

Location, Location, Location
The best properties are within walking distance of a campus, says Zaransky. They are also located where the kids are increasingly choosing to go to school.
“The southeastern and southwestern states especially draw the most kids,” says Preiss, who notes the northeastern schools are more likely to institute enrollment caps which limits their attractiveness to investors. Zaransky also warns against going where rental properties are already abundant, as in large urban areas like Chicago and New York, especially after the recent run up in property prices there. “The odds tip in an investor’s favor with moves to pure college towns,” he adds, noting that Boston is the exception to this.
To help identify prime campuses, Zaransky uses a ratio to relate the number of university-owned beds to enrollment, using data mined from registrars’ offices. “Nationally, this ratio averages about 30 percent,” he reports. But it varies widely. At Arizona State University, for instance, he estimates the ratio to be 11 percent meaning 89 percent of ASU students are renting off-campus.
That imbalance is precisely what Rick Steele, a Denver businessman is looking for. His son will be attending ASU this fall and Steele intends to invest in a condo for him. This is not Steele’s first attempt at making a student housing investment. He wanted to buy property when his older son was in school in Providence, R.I. But that market seemed to offer minimal price appreciation and most of the available property involved older boarding houses. “It did not make financial sense since they were in need of so
much maintenance and repair,” says Steele, who opted to pay rent instead. He finds the Phoenix/Tempe market much more hospitable. “It is so vibrant and the housing stock is newer,” he says.

Newer is better for today’s students, who prefer buildings with pools and saunas and view wireless Internet
connections as an essential. Preiss, for example, builds her units with bedroom-to-bathroom parity so roommates do not have to share facilities.
“I figure with what I would pay for a dorm or fraternity, at worse I may breakeven when I sell. If the property
appreciates, then it will help offset the education cost,” says Steele, adding “Either way, at least my son will have a nice place to live while he is there.” Steele’s attitude is a good one and realistic for parents who only expect to hold their ‘kiddie condos’ for three-to-five years.
“It is really too short a period of time to realize enough of a return after the expense of holding and then selling to make it worthwhile,” says Stuart Tsujimoto, a certified financial planner with the Financial Network in Torrance, CA. He speaks from experience, having bought a condo for his daughter while she attended San Diego State University. Tsujimoto, who bought the condo outright rather than mortgaging it, feels that after factoring in his expenses plus the realtor’s commission when he sold, he would have made roughly the same return on his money by investing in a mutual fund and making withdrawals to pay for rent.
But for those who intend to buy and hold after graduation, the experience seems to be more positive. Tim Hinz, a realtor with Keller Williams in San Diego has had a number of clients buy condos for their college-bound kids.

“So far everyone who did, held onto it or gave it to the child who assumed the mortgage payments after graduation.” Many, given the particulars of the area, may also be holding for a retirement use later on in life.
Preiss also says most of her clients view their student condos as long-term investments. Even her parent-buyers tend to hold after realizing how attractive the cash flow is. They simply have her, as the property manger, rent out the freedup ‘bed’ once their child moves on. In Preiss’s developments as in others, leases are written by the bed or directly with each roommate, removing the legal onus of having to enforce a lease from parents, investors or owner-students.
While buying a ‘kiddie condo’ can be advantageous versus paying rent or the dorm expense, especially if a parent can access a Federal Housing Administration program to help finance it. Dubbed the “Kiddie Condo Loan,” the program allows students — and non-students — to purchase a home with an assist from a blood-relative’s good credit standing and cash. The home must be considered the primary residence of at least one of the borrowers, but renting out space to roommates is allowed. If the child moves out after graduation, the borrowers would have to refinance or sell the property to pay off the FHA mortgage.
These loans only require 3 percent down and since they are considered owner-occupied, they qualify for all the tax advantages of a primary residence; whereas a condo purchased as a second home or investment property may limit the tax breaks and raise the interest rate offered.
In addition to not having to deal with dorm-life, the owner-child benefits from building a credit history, having a place to live, and potentially assuming the responsibility of being a landlord to their roommates.
Despite those financial incentives, Zaransky advises parents not to feel obligated to invest where a child is attending school. Actually, he sees no reason to link the investment to a child at all.
“It just needs to be a good investment — rents need to be rising in the area you choose, and there should be an opportunity for appreciation over time. If those factors are not present at a child’s university, then parents should invest in another town and pay rent for their child’s housing instead,” he says.
For those who cannot swing the purchase of a condo or multi-unit building as an investment, there is another option for cashing in on the student housing shortage. There are actually two publicly traded Real Estate Investment Trusts that focus on student housing. Each offers a generous dividend yield and allows shareholders to participate without having to deal with the responsibilities of ownership. They are:
• American Campus Communities (Symbol: ACC)
• Education Realty Trust (EDR)
Regardless of how one chooses to invest, with growing demand for housing outstripping its supply, the investment returns are expected to continue far longer than the four-to-five years a child spends in college.

Source: MSNBC

Remarks: College is an expenisive option for the majority of parents across the country. The combined costs of tuition, rent, books, utilities, insurance, and daily necessities can be overwhelming and quickly add up to tens of thousands of dollars a year. That being said, there is growing trend of investors that are realizing the potential of lucrative student markets, and realizing that while having your child in college might present a financial burden, there is no reason you can’t be smart about it and even have the opportunity to earn a little return on your investment. College enrollments are increasing at a rapid rate, and there is no slowing down in sight. The high school graduating class of 2009 is estimated to be nearly 3 million kids nationwide, a great number of which will be heading off to college in the fall. Universities are overwhelmed by new students, providing an excellent opportunity for the savvy investor. I have been in college for 5 years, and in that time the average price of rent for an off-campus place has gone up by nearly 20%, a figure that will only continue to rise. Rental markets are strong when the economy is strong and when the economy is in the toilet like it is now. Property ownership in a college town is rapidly becoming a much safer bet than more conventional real estate practices.

October 13th, 2008 by AllStudentRentals.com

Many individuals in rented apartments and homes long for some companionship. To this degree, many of them decide that it would be a good idea to get a pet. Guys want dogs because they think chicks will sleep with them if they have a puppy. Girls wants cats for whatever insane reason people would like to own the most pretentious and good for nothing animal on the planet. The bottom line is that, for whatever reason, people think that owning an animal while they are in college and renting a place is a good idea. That being said, let’s get right to the point: It Definitely Is Not, in fact it is a god-awful bad idea.

There are a lot of reasons why owning a pet is a bad idea when you are renting, and truthfully I can’t even get into all of them because I’m sure there are some that even I haven’t thought of. What I can do however, is share from my experience why getting a pet, especially a young dog, is ill-advised at best.

My first year of college I lived in a two-bedroom apartment with a buddy of mine from high school. Towards the end of the first semester, after our other friend had officially moved into our dining room for a small fee, we decided that it would be a fine idea to get a puppy that we could raise and teach to do cool shit and impress our neighbors. The idea didn’t materialize exactly like that, but I don’t actually recall how it came about, and it honestly doesn’t matter because no rationale would have been good enough to justify getting a damn puppy in a 600 square foot apartment with 3 people living in it. After several failed attempts to convince the people at the Humane Society that our apartment was a fitting place for a small dog, we decided to look elsewhere. Heres a tip: if the Humane Society, a group that keeps all of it’s animals in 3×4 foot concrete cells, tells you that your house is not good enough for an animal, take note of this fact, becasue they are absolutely right.

Long story short, we found a lab puppy for sale close by, bought it, and brought it home. Over the next 6-7 months, this dog completely annihilated everything we owned. It took several months for the dog to figure out how not to shit in the house, a period during which many feet suffered the wrath of poo on the carpet. It was absolutely disgusting most days, especially in the morning, when an entire night’s worth of droppings were left for the unlucky bastard who woke up first. I bought so much Simple Green that year I should have owned part of the company when it was over. Eventually, you get “used to” cleaning up the mess and the fact that your house always smells like fresh urine or feces, but the pitfalls of pet ownership don’t stop there. This dog loved to chew (he was mostly lab) on just about anything. Because he was unsupervised on occasion, he had his way with everything he could reach. Shoes, belts, socks, towels, several sections of the apartment carpet, t-shirts, a damn window sill, pieces of the drywall, the legs of the couch, sheets and comforters, wallets, keys, and the list goes on. Nothing was sacred!

Aside from the fact that raising a small dog will completely decimate your surroundings and almost guarantee you receive none of your security deposit back, there are other reasons to avoid getting a pet. 90% of leases have a No Pets policy that will result in an immediate eviction and a guaranteed loss of deposit money.

I know what most of you are thinking, “I don’t want to get a puppy for my apartment, that seems like a terrible idea anyways. I want a cat or a goldfish or a gerbil or a monkey.” You are absolutely right (half right at least)! If you want to get a dog, get a dog that is at least two or three years old, is housetrained, and is old enough that it will rarely destroy your stuff if left alone. It won’t be as cute as a puppy, but believe me it will be worth it.

I have never, and will never, own a cat. However, I have been in many houses where cats exist. I can say this definitively: Houses and apartments with cats STINK. It’s as simple as that, especially if the people who own the cats keep the damn cat box in the kitchen or something ridiculous like that. It is a horrible smell that no one should be subjected to. I know you love your cats, but their smell is horrendous. That being said, a cat is a better choice than a puppy, as much as I hate to say it.

As far as other pet choices are concerned, most of them are pretty tame, with a few exceptions. Anything that lives in a cage is not a huge concern and can be kept relatively clean. These are things like rats, hamsters, birds (although they are often irritating as hell), various reptiles, and things of that nature. Fish can be a problem if you have a very large tank as these are usually forbidden in most aparments/houses and are grounds for eviction. Other than that, these pets are a pretty safe bet.

Let’s talk about snakes! I had a snake that was about 18 inches long when I lived in the same apartment with the dog. I bought it out of pity from a friend that desperately needed to get rid of it, and I thought it would be no big deal. I was wrong. It escaped almost daily from its cage, going missing for several days and at one point for several months. Snakes can be low maintenance pets, however, they hate to be in cages, and once they escape they are incredibly hard to find, not to mention that fact that most people are wary of partying at your house when there is a rogue snake holed up somewhere behind the fridge or something.

Ultimately, I think that having any pet in any rental housing situation is a terrible idea. I was almost evicted just two weeks ago because our landlord found out about my roommates dog living with us. Animals are expensive and dirty and are really only fit for the person who owns their residence, because then it is entirely their problem to deal with.

October 10th, 2008 by AllStudentRentals.com

Renting an apartment or a house while in college is generally a new and exciting experience. However, there are drawbacks, and I’m not talking about having to clean up your own crap or paying way too much for cable. The one common factor in every rental situation is the Property Manager. Property managers come in many shapes and incarnations, from the faceless property manager that supervises 300 units to the middle-aged guy who rents out his spare bedroom that probably has hidden cameras in it. Property managers are something that every renter must deal with, but this isn’t necessarily a bad thing.

There are generally two types of property managers: the ones who work for a large management company that owns dozens if not hundred of rental properties, and the private landlords who simply own one or two properties and rent them out for the supplemental income. Both of these groups have their respective benefits and pitfalls, so let’s outline some of them here.

Large Scale Property Managers

These are the people that you are unlikely to see most of the time. Undoubtedly you will meet them when you first look at an apartment, and they will probably be there when you sign a lease. For the most part, these people will stay out of your business, unless of course you happen to break the rules. Large-scale property management companies have a much more well-defined and in most cases stricter policy for their renters. Some of these rules are basic, like no drugs, no pets, stuff like that. Some of them, on the other hand, can be much more specific to the point of seeming pretty damn silly, like no groups of people larger than 10 at the house at any time, quiet hours after midnight, no indoor furniture on the front porch, no waterbeds, no tiki torches or barbecues, and a host of other things. These rules generally stem from the fact that these rentals are the primary source of income for whatever large company you happen to be renting from, so it makes sense that they would want to be cautious.

As far as legal issues and responsibility are concerned, renting from a large company is usually beneficial to the renter. Large companies have established processes for rent payment, site maintenance, record keeping, and things of that nature. They won’t lose your rent payment and notify you nine months later, making you take time out of your day to go over year old bank statements just to prove that you wrote them a check because their half-ass bookkeeper decided to misappropriate some funds and not cover his tracks. If something goes wrong or breaks in your place, large rental companies are much more likely to fix these things in a timely manner and with the use of a professional. They are definitely more efficient than private landlords, however, they will not hesitate to screw you out of your deposit money when it comes time to move out. Large rental companies often have provisions in their leases that mandate carpet cleaning and painting upon moving out, meaning you pay for those things out of your deposit whether you like it or not, and quite frankly even if it is rather unnecessary. Their standards for move-out conditions are generally very strict and they are not afraid to ding you for every little expense, as well as professional cleaning which usually runs around $20-$25 an hour, depending on which cleaning company has a kickback deal with the property management company.

Despite these potential drawbacks, property managers are certainly the more reliable choice for any renter and probably the way to go if you want to avoid worrying about where your money is going each month or who is going to fix your garbage disposal.

Private Landlords

Private landlords are a dime a dozen and certainly have their advantages over property managers. Generally these people have other jobs that produce the bulk of their income, which usually results in their being much more laid back. They have more lax policies about the rent and the condition of the place you’re renting, which is a plus. You have a much better chance of getting a larger portion of your security deposit back from these people (on average that is, some landlords are crazy regardless of the number of properties they own) because they don’t have a strictly defined set of rules. They usually won’t get you for carpet cleaning or painting if it’s not necessary and they are more forgiving about things like small holes in the walls, landscaping, and less serious issues.

The problem with private landlords comes from the fact that they are private landlords. All you need to be a landlord is an empty house or apartment, there is no test. Some of these people can be incredibly disorganized in their personal lives, something that is reflected back on you the renter. Sometimes these people won’t deposit your rent check until the last 3 days of the month that it was for. They will lose important documents and accuse their tenants of not paying the rent, they might come by unannounced and see the dog that you weren’t supposed to have but lied about for several months, you might have to go to their house and deal with their weird kids while you sign papers. There are any number of things that you might encounter when dealing with private landlords, up to and including the nature of the people themselves. Like I stated before, you don’t need a special license or anything to become a landlord. As a renter, you could very easily come across a landlord that is a drunk or a drug user or has a gambling problem or installs cameras in the bathrooms of the house you rent. Landlords are as different as people are different, you just never know who you will have to deal with.

Despite the potential for getting a landlord that is a voyeuristic drunk, private landlords are generally not a bad way to go. The majority of the time they are nice people who will respect you if you respect them. Finding the right situation for yourself really just depends on what you are looking for. If you want a rental experience that is well documented and very professional, with a set of guidelines for accomplishing anything you need, than a large scale property manager is probably what you are looking for. If you want something that is more laid back, less official, with a person that would be cool if your rent is a few days late and won’t freak out if you build a fire pit in the backyard or get drunk and demolish that crappy shed that was supposed to be taken care of a year ago, a private landlord might be more to your liking.

October 8th, 2008 by AllStudentRentals.com

As the University nears its goal of 28,000 students by 2010, more companies are constructing new apartment complexes in Tuscaloosa.
Students now have more choices for off-campus living. University Village, Boardwalk and The Bluff at Waterworks Landing are some of the newest apartment buildings available for rent by students.
Boardwalk, which is located off old Montgomery Highway, rents to students from Shelton, Stillman and the University.
“It’s only about 5 miles from the University,” said representative Jodi Enzer. “It is a straight shot from Boardwalk to the stadium. It’s close to Kmart and Wal-Mart, so they don’t have to go on campus to get groceries.”
Rent for Boardwalk is $515 per month. The cost increased $15 from last year. Enzer said students who renewed within the specified time did not have to pay the increased rate.
“We did raise rent, but if they renewed before the end of January, they were able to stay at the same rate,” Enzer said. “Rent will never go up during your lease.”
The monthly rent also includes utilities, cable and Internet, which is a deal Enzer said is not found anywhere else in town.
Those living in the Boardwalk can also take the Tuscaloosa Trolley to campus. Transit Manager Jimmie Cain and representatives of Boardwalk asked Kmart to allow students to park in the store’s lot.
“We couldn’t get a bus in to the complex, so we came up with the idea of having a parking lot at Kmart,” Cain said. “The people at Kmart were fine with it because they thought if students parked there, they would probably shop there.”
The trolley runs on the hour and drops people off in front of the President’s Mansion and picks them up from the Quad. Trolley fair is $2.40 roundtrip.
With all of its amenities, the Boardwalk may not appeal to students who want to live closer to campus. According to an article written by Bobby Degnan published by the Alabama Center for Real Estate, apartment prices are relatively high for close-to-campus living. The average price for a one-bedroom apartment is $570 and the average price for a two-bedroom apartment is $858.
The Bluff is managed by Ellis Trick Inc. Multifamily, the same group that manages the University Downs, Regency Oaks and The Reserve at North River. The Bluff is currently being leased by the University.
LaQual Walker, a transfer student, lived in The Bluff briefly. She said she wanted to live close to campus because there weren’t any spaces available on campus.
“My rent was $450 a month, which is kind of expensive compared to other places in the area,” Walker said. “The only thing that was included in my rent was water. The rooms are significantly larger than other apartments, but you can hear everything that goes on next door.”
ETI Director Jackson Wallace, who is in charge of management of the Tuscaloosa apartment communities, said the properties have a lot to offer.
“I believe it is high quality, and we value our assets,” Wallace said.
Wallace said as the cost of living increases the cost of maintaining the property also goes up. He also said that just because the rent at one ETI property increases does not necessarily mean they will all increase.
“We look at each individual property individually and specifically,” Wallace said.

“Mid-November is when we go through our renewal process.”
Some students decided to live farther away from campus this year. Degnan said there is a noticeable price drop in apartments across the river. A two-bedroom apartment averages $769 and a three-bedroom apartment averages $960. One-bedroom apartments are still close in price, averaging $613 per month.
Corbin Warfel, a junior majoring in business management, began searching for housing in the spring. He said he and his friends noticed that apartments that were closer to the University were as convenient as they were expensive, so they decided to move to the Northport area.
“We found a place further away from campus and we got a better deal,” Warfel said. “My rent is $350, so it’s even cheaper than the dorm I used to live in. It’s quieter and you don’t have to carry groceries across campus if you can’t find a place to park. You also don’t have to worry about [an] RA invading privacy.”

Source:The Crimson White

Remarks: In my opinion living close to campus is a must and was my main criteria when looking for off-campus housing. Although the cost can be more expensive the beneifts, including walking to school, and student neighbors, are definelty worth the added expense. In fact, you might even argue that you save more money by walking everywhere than if you lived farther away from college but had a cheaper monthly rent payment.