<p>My son just found out about an opportunity to live in a house with some guys instead of living in the dorm again this year (the fifth guy decided not to return to school) and he’s frantically telling me we have to hurry or he’ll lose the chance to be in this house. </p>
<p>Can you give me some advice, things to look out for, etc. so that we don’t make any big mistakes? Thanks!</p>
<p>Are you sure he will be able to get out of his school housing contract? At my daughter’s school, it would be very difficult.</p>
<p>Yes, he will be able to get out of the contract. He’s already faxed info to the school and they told him it will be approved.</p>
<p>I would read the rental contract yourself before he signs it - are they signing individual contract with the landlord (or are they all responsible if one should default), maintenance of the premise, option to withdraw, utilities, deposit refund… I would just make sure the agreement is something you could live with. It should be as carefully read as your own rental agreement.</p>
<p>My S ended up living in the dorm as a junior because he, in his typical procastinator fashion, didn’t plan ahead and discuss apartment options with friends. He has, this summer, made SURE to rent a 4 bedroom apartment with his 3 closest buddies. He is SO much happier. </p>
<p>As a parent, I liked the security of knowing he was in a dorm with utilities provided, the safety net of the campus police, etc etc. However, while he still had a good year, it would have been nicer for him to be with friends rather than a single room sharing a bathroom with a guy who was really really strange.</p>
<p>For me, another important factor is how close the apartment is to the campus. S’s new place is 2 blocks away, so he won’t be driving to class–ever, which makes me happy.</p>
<p>Oldfort above makes some good comments re the lease. In S’s case, the landlord insists that EACH tenant sign a separate lease, something we were worried about as our S was the one to find and rent the place on behalf of the group. If you have a way to review the lease, that would definitely be the way to go.</p>
<p>Bottom line, I would definitely support your son’s interest in living with these friends in an apartment barring some compelling reasons not to. Good luck!</p>
<p>We have not personally dealt with this yet, but I know from relatives that they, as parents, had to be named and were required to be sign leases, and thus, assumed some financial risk (monthly rent, utilities, repairs) when their ‘under 21 year olds’ roomed off campus.</p>
<p>As a property manager, and Realtor for 16+ years…I encourage you as the parent to review the paperwork with your DS. He will be signing as a legal adult, and will have to assume the responsibilities of an adult. You may also want to talk to him about renters and liability insurance-especially if you are the co-signer. This is a great step towards independence-all good! Good Luck! APOL-a mom</p>
<p>Make sure the place is up to code, smoke and CO2 detectors, multiple escape routes, sprinklers are a plus. Scan the police logs for a few days in the area, etc.</p>
<p>As somebody who rents a house out to college students, if it were my kid, I would strongly advice against it. Besides heating it which depending on where he goes to school could be a significant expense, he has to worry about the other renters. In the last three years, I have kept large portions of their deposits for repairs. I’m sure they weren’t all equally responsible, but the lease that I use makes them all responsible.</p>
<p>One other thing I forgot to point out. Even if the house is in an area with many college students renting, neighbors who are full time residents do not appreciate being surrounded by college kids. Police have been called to my house by neighbors complaining about parties at 10:00 PM on a Saturday night.</p>
<p>In some areas, the police don’t mind. There’s an apartment near my son’s that’s right over the local police substation and that didn’t slow down the partying last year.</p>
<p>Couple of other things that we have come across:</p>
<p>What if one kid moves out? Can the others get anyone to fill their shoes if this student finds another person to rent? If one other tenant refuses to rent to someone, who is then responsible for paying the rent for the kiddo who changed his mind?</p>
<p>If the furnace is broken and there is no heat, and the landlord refuses to fix the furnace, what steps will be taken (board of health complaint, etc.)? I know someone who was put in this situation.</p>
<p>It doesn’t bother the police, it bothers the residents and they pay the salaries of the police.</p>
<p>What is the minimum rental, lease length? In our college town area, it is 12 months. Kids (and their parents) are paying rent and utilities on apartments and houses that are empty 25-30% of the year.</p>
<p>I rent out for the school year and I also rent the house out for the summer as it is near the beach. Therefore I have two rental seasons.</p>
<p>All of the apartments in the area are rented by college students so the parties and the noise aren’t that big a deal to the neighbors.</p>
<p>"My son just found out about an opportunity to live in a house " not an apartment. People expect apartments to be noisy not houses which are separated by yards.</p>
<p>If there are no apartments around a university campus, what do you think students and landlords will do? There have been news articles about the problems with students renting houses and partying and all sorts of other bad behaviour. If you buy a house near a university, especially one known for partying, you take your chances.</p>