Best way to go (by Jo [CT]) May 5, 2021 3:52 PM
Best way to go (by Allym [NJ]) May 5, 2021 5:13 PM
Best way to go (by Jo [CT]) May 5, 2021 6:02 PM
Best way to go (by RentsDue [MA]) May 5, 2021 6:45 PM
Best way to go (by Jo [CT]) May 5, 2021 7:14 PM
Best way to go (by Jo [CT]) May 5, 2021 7:14 PM
Best way to go (by BRAD 20,000 [IN]) May 6, 2021 10:27 AM
Best way to go (by BRAD 20,000 [IN]) May 6, 2021 10:28 AM
Best way to go (by Jo [CT]) May 6, 2021 4:36 PM
Best way to go (by Jo [CT]) Posted on: May 5, 2021 3:52 PM Message:
I rent to a lot of college students. Since school is now opening, the school year goes from late August to early May usually around 12 May. All of my leases end May 26 at 6 PM. There are a few issues around that. First of all it’s memorial day weekend and I am usually busy with family and friends and students would like to move out earlier in the month and not have to pay for the whole month.
Inevitably, they realize toward the end of their lease time that their lease ends on the 26th and there are five days that they are paying for that they are not utilizing the apartment, so many ask for a prorated amount.
I would like to find a neutral ground. I was thinking of ending the leases on May 20 and starting on the 25th or the 26th of May for their move-in date as that would leave the weekend free and allow me to have time to do all the necessary repairs. I guess there is no way around it, you can’t have a move out one day and a move in the next unless the place is spotless and that is never the case.
Anyone else here rent to students and run into the situation? --68.191.xx.xxx |
Best way to go (by Allym [NJ]) Posted on: May 5, 2021 5:13 PM Message:
So they have to move in for the following year at end of May and pay until August when they are not using it. Yet the ones losing 5 days in May are the ones that complain about paying for 5 days they are not using it? --108.24.xx.xx |
Best way to go (by Jo [CT]) Posted on: May 5, 2021 6:02 PM Message:
Ally, no. All the leases now end May 26 at 6 PM. It doesn’t matter if you move in in June July August September October or November, all the leases end May 26th.
So if they move in May 20, they pay until May 20 of the following year, not August. --68.191.xx.xxx |
Best way to go (by RentsDue [MA]) Posted on: May 5, 2021 6:45 PM Message:
I rented to a lot of college kids. I did the leases from August 1st until June1. I charge more for that. I end up making more than if they had a 12 month lease and I get the unit back for summer. --68.191.xx.xx |
Best way to go (by Jo [CT]) Posted on: May 5, 2021 7:14 PM Message:
Rents....what if someone wanted to move in June 1? When do you do your next turnover? July 1? I try to have as little time as possible between turnovers. Many students are looking for a June 1 rent for the next year so my thought was to end the lease early or mid month in May and then if they want to move in the 26th or 27 of May then they could do that instead of over the weekend.
If the lease goes until May 26 they whine about paying for the whole month when there are five days that they will not be paying for even though they know this and sign the lease in the beginning, they suddenly are able to read at the end of the lease term and see 26 May as their ending date. --68.191.xx.xxx |
Best way to go (by Jo [CT]) Posted on: May 5, 2021 7:14 PM Message:
Rents....what if someone wanted to move in June 1? When do you do your next turnover? July 1? I try to have as little time as possible between turnovers. Many students are looking for a June 1 rent for the next year so my thought was to end the lease early or mid month in May and then if they want to move in the 26th or 27 of May then they could do that instead of over the weekend.
If the lease goes until May 26 they whine about paying for the whole month when there are five days that they will not be paying for even though they know this and sign the lease in the beginning, they suddenly are able to read at the end of the lease term and see 26 May as their ending date. --68.191.xx.xxx |
Best way to go (by BRAD 20,000 [IN]) Posted on: May 6, 2021 10:27 AM Message:
Jo,
Am I understanding you are not getting rent over the summer?
MY children have been out of college for several years but their apts were all 12 month leases.
They left their furniture, etc in the apt over the summer and usually worked to find a subletter at a discount to help cover the summer expense. One did summer school, another kept his on-campus job thru the summer.
I would list the rental as $XXXX for the school year Aug XX thru May XX and avoid talking about monthly rent amount.
Also, learn to say no.
BRAD --73.102.xxx.xxx |
Best way to go (by BRAD 20,000 [IN]) Posted on: May 6, 2021 10:28 AM Message:
PS
A friend with college rentals takes the entire year of rent up front.
BRAD --73.102.xxx.xxx |
Best way to go (by Jo [CT]) Posted on: May 6, 2021 4:36 PM Message:
Brad,
What I find is sometimes kids are graduating and they don’t want to pay through the summer if they’re not going to be around and other kids like to go home for the summer and I find that from experience that for a years lease a lot of kids will not sign up.
I have good luck renting throughout the summer as well to other incoming students or sometimes for short term students taking summer classes. All of my places are furnished so it makes it very easy for them. --68.191.xx.xxx |
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