Student Landlord Research Paper

Going off to college is filled with a bunch of new experiences and for some that involves learning how to be a student landlord.

Jordon Caldwell, 20, who is in his second-year at Fanshawe, tried out living in residence for the first semester, but after not having the best experience his mother and him looked into co-signing on a house.

“A friend of mine offered me one of their rooms in their house, and I was talking it over with my mom and she said it would be better if I purchased my own house and rented out all the bedrooms. That way I wouldn’t have to pay rent,” said Caldwell.

His mother, who has experience with rentals, helped him through the process. Even though his mother is there for guidance, Caldwell is the landlord and deals

“I don't know if it is a good idea today, but rentals make sense for occupants who are likely to move soon. Students don't typically stick around long, so they are more naturally renters rather than owners,” said Davidoff. “High turnover is expensive to a landlord, and of course who wants drunk 20-somethings with not yet fully developed frontal lobes as tenants?”

Brett Wilson, a Visual Merchandising student at Sheridan, is also looking to become a student landlord. He is looking to purchase a house near the University of Western.

I want to invest in a house near the school because it makes for a great student rental,” said Wilson. “In a house I am looking for more than 3 rooms, at least 2 bathrooms and the basics, not to old of a roof, updated windows, dry and finished basement and some other smaller things.”

Caldwell’s main concern when buying his house was the quality and the

But when making a big purchase like a house there are many things that can go wrong.

“I think my biggest worries about investing in a house is that it could burn down, or something could be wrong with the house but for me not to find out until it's too late, I guess my biggest fears are all based off of ‘what if’,” said Wilson.

Along with worries like these, Caldwell also faces the issues of being an in-house landlord.

“At first it was over whelming just because its the first house I ever bought and I am in college,” said Caldwell. “ The hardest part is dealing with all the issues, whether it be with the house or roommate drama. People seem to think that the landlord should be the mediator but that’s not the case.”

He also admits his age does effect how his tenants treat him.

One of my roommates is actually older than me, he’s not in school, just working. I definitely get the feeling that he doesn’t have to respect me as much as he should,” said Caldwell. “The other roommates, I’ve become friends with, so it’s kind hard that way too.”

Caldwell suggests that students looking into purchasing houses near schools go into it with