Should You Buy Rental Property Next To A School?
Rental property is an excellent way to build wealth during unsteady economic times but what if the rental property that you want to buy is located next to a school?
In this article, we will offer you several pros and cons about buying rental property next to a school so that you will know if this is going to be an investment that you should add to your portfolio of investment properties.
What Are The Pros Of Buying A Rental Property Next To A School?
Ideal for parents – Let’s face it, most parents are concerned about their children’s education and they would be open to renting a property that’s located next to a school, especially if it’s a school with a good rating.
Playground Nearby – Besides the obvious benefit of being able to send their children to the school, having the school playground nearby is also another benefit of living next to a school because this offers parents a convenient recreation destination that’s close by.
Affordability – Homes that are located next to schools often have a lower cost of living compared to homes that are located near restaurants, entertainment venues, and things to do in the area.
The Cons Of Living Next To A School
Traffic – Since most schools typically start at 8:00 am, it’s not uncommon for school traffic to start as early as 6:00 am. Renters should be made aware of this but the good news is that the traffic doesn’t last all day because once the students are in class, the traffic typically decreases until the students are out of class in the afternoon.
Noise – If the school is a high school with a football team and marching band, the school can have more noise than normal, especially during football season.
Parking – Yes, parking can often become a problem for homes that are located next to schools because depending on the size and age group of the school some students or teachers may need to park off-campus, rather than in school parking lots.
As with any rental property, owning a rental that’s next to a school will have its pros and cons but the good news is that if you market to the right tenants, you can ultimately screen and place the most qualified tenants who will enjoy living in your property.
Contact Rent Portland Homes – Professionals
At Rent Portland Homes – Professionals, we can save you the hassle of managing your rental property yourself.
With our service, you can finally earn passive income from your property and enjoy going other things.
To learn more about our property management services, contact us today by calling (503) 447-7735 or click here to connect with us online.