More people seek real estate to rent to college students | Charlotte ...

North Carolina is home to an extensive number of colleges and universities, with many clustered around some of our more populous cities. Living space is always in demand for college students, and according to realtors around the country, some people are looking to invest in residential real estate that can be leased out to students.

Some of the investors are parents whose children are attending college. Dismayed by the often high cost of school-provided dormitories and looking for a source of income to counter the ever-rising price of a college education, some parents have bought houses that they rent out to their son's or daughter's friends. While having an already existing acquaintance with a child's friends may produce a positive landlord-tenant relationship, there are potential pitfalls.

As the parents may be aware, a variety of legal issues can crop up that are part of owning any piece of real property. An owner may have to contend with boundary disputes or may purchase a property that is subject to an easement, which could potentially restrict the owner's desire to make changes to the property.

In addition, there are issues more particular to renting out a home. Zoning restrictions may place a limit on the number of tenants, which could affect the amount of rental income an owner expects to receive from the property. In addition, real estate law imposes a variety of responsibilities on landlords. It is important that parents or investors consider all of the legal issues that can arise before they decide to purchase and rent out a piece of real estate.

Source: U.S. News and World Report, "Property in College Towns a Boon to Real Estate Investors, Parents," Meg Handley, Aug. 22, 2012.

? Property law involves a number of other considerations as well. If you would like more information on our firm, please visit our Charlotte real estate page.

Source: http://www.charlotterealestatelawblog.com/2012/08/more-people-seek-real-estate-to-rent-to-college-students.shtml

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