If you’re preparing to invest in your next single-family Bartlett rental property, you may be assessing each alternative against your property wish list. So where does “proximity to a school” rank on your list – and should it be on there at all? It’s a valid question since a neighboring amenity like a school could be either a bonus or a serious drawback, depending on who your renter demographic is. To identify whether buying a rental near a school is a good idea or not, you need to assess first both the advantages and disadvantages of doing so.
Advantages of Owning Property Near a School
Probably the biggest advantage to owning a single-family rental house near a school is that it may appeal strongly to renters with school-age kids. Getting kids to and from school can be a real hassle, especially for working parents. This is why being able to tell prospective tenants that their kids can walk to and from school could be a huge selling point.
One more incredible advantage of buying a rental property near a school is the greater possibilities for your tenants to become friends with other parents nearby. Commonly, renters believe that they don’t have many opportunities to get to know their neighbors. However, living near a school could help facilitate neighborly interaction and help your tenants feel more connected to the community. That, in turn, can help boost your tenant’s satisfaction and readiness to stay in the home longer.
To conclude, the last key advantage of buying a rental house near a school is that it might make it easier to sell when the right time comes. Homebuyers with kids and other investors who rent to families may both be happy to offer more for a property with a nearby amenity like a school. This might assist you in ensuring that you can sell your investment for the best possible return.
Disadvantages of Owning Property Near a School
Surely, there are a few explanations why you should think twice before investing in a rental house near a school. Roadways around schools experience higher traffic, vehicles, and pedestrians throughout the day. The increased traffic can sometimes make it hard for tenants to get in and out of their driveway at certain times of the day or even result in vandalism or littering.
Contingent upon how close the property is to the school, residing near the area may also imply your tenants will have to deal with the nuisance of parents and staff parking in front of the property. Not only can limited parking present difficulties for your tenants or their guests, but it can also give rise to oil stains, trash, or other complications.
In conclusion, dwelling near a school generally results in increased daytime noise. If your tenants do not have kids, work from home, or choose a quiet neighborhood, they may become aggravated by the sounds of children playing on the school playground or people and cars passing back and forth multiple times a day. A loud street or neighborhood can become a big deterrent for tenants who want to appreciate their rental home privately.
So, is acquiring an investment property neighboring a school a good idea? That depends! Every rental property owner’s situation is exceptional, indicating that you are the best person to know whether a nearby amenity like a school would be a plus or negative for your tenants.
No matter where you are in your investing career, it can be very helpful to get the advice of a local market expert. And we are here to assist you! Communicate with Real Property Management Investor’s Choice to learn how our Bartlett property managers help rental property investors determine whether an investment property is a worthy candidate for your portfolio.
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