Student Housing Near Villanova and Bryn Mawr: An Investor's Guide

Several colleges and universities sit along the Main Line: Villanova University, Bryn Mawr College, Haverford College, Rosemont College and Eastern University. They create rental demand nearby, and some investors focus on it. University-area rentals work differently from ordinary rentals, and local rules are strict in places. This guide covers what to check. It does not estimate rents or returns, which depend on the property and must come from current comparable leases.

Start with local rules

Student rentals are where township rules matter most. Before you buy:

• Zoning and use. Confirm that the property's use, and every unit in it, is legally permitted.
• Occupancy limits. Some townships limit how many unrelated people can live together in a dwelling. That number, not the bedroom count, may decide how many tenants you can have.
• Rental licensing and inspections. Expect to register or license the rental, and to pass periodic inspections.
• Parking. Off-street parking requirements and permit areas can limit how many tenants can have cars.

Villanova and Rosemont are split between Radnor and Lower Merion townships, and Bryn Mawr between Lower Merion, Radnor and Haverford townships, so confirm which rules apply to the specific parcel.

Lease structure

Leases often follow the academic calendar, which concentrates turnover in one season. Investors typically consider joint leases with all tenants named, parental guarantees where lawful and agreed, clear rules on subletting and summer occupancy, and a move-in and move-out inspection with photos.

Fair housing laws apply as with any rental. Advertise the property, not the tenant, and apply the same screening criteria to every applicant.

Wear, upkeep and management

Turnover and wear can be higher than in other rentals. Budget for annual painting and repairs, durable finishes, and responsive maintenance. Many owners use a professional property manager, especially if they live elsewhere.

Underwriting

Build the numbers from evidence:

1. Comparable leases for similar units near the same campus.
2. A realistic vacancy allowance for the summer and for turnover.
3. Higher repair and reserve figures than for a typical rental.
4. Licensing, inspection and management costs.
5. Financing that works if rents or occupancy come in lower than hoped.

Our investor tools include cash-flow sensitivity and vacancy scenarios for this.

Alternatives near campus

Not every investor near a campus rents to students. Homes near Villanova, Bryn Mawr and Haverford also rent to faculty, staff, hospital employees and commuters who want rail access. A property that suits several kinds of tenants carries less risk than one that depends on a single market.

Read Investing in Main Line real estate or talk to us about a rental.

Before you decide

Local ordinances change. Confirm zoning, occupancy limits and licensing requirements in writing with the township before you sign an agreement of sale.