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Location, Location, Location: Should I Buy a Rental Property Near a Public School?

“End School Zone” Sign on Mineola RoadIf you want to invest in your next single-family Mineola rental property, you may be measuring each candidate 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 an excellent question because a local amenity such as a school could be either a bonus or a serious drawback, depending on who your renter demographic is. To identify if buying a rental near a school is a good idea or not, it’s advisable first to analyze 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 perfectly to renters with school-age kids. Sending kids to and from school can be a real headache, particularly for working parents. This is why being able to tell prospective tenants that their kids can walk to and from school could be a significant selling point.

Another great advantage of buying a rental property near a school is the increased opportunities for your tenants to become friends with other parents nearby. Too often, renters feel like they don’t have many opportunities to get to know their neighbors. But living near a school could help facilitate neighborly interaction and help your tenants feel a sense of belonging to a community. That, in turn, can help boost your tenant’s satisfaction and eagerness to stay in the home longer.

Lastly, the last big advantage of buying a rental house near a school is that it might make it easier to sell when the time comes to do so. Homebuyers with kids and other investors who rent to families may both be ready to offer more for a property with a nearby amenity like a school. That can help safeguard that you can sell your investment for the biggest possible return.

Disadvantages of Owning Property Near a School

Of course, there are a few reasons why you should think twice before investing in a rental house near a school. Streets around schools tend to see 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, staying close by could also mean your tenants will have to deal with the nuisance of parents and staff parking in front of the property. The limited parking will not only cause problems for your tenants or their guests, but it can also generate oil stains, trash, or other issues.

After all, being close to a school usually means more daytime noise. If your tenants do not have kids, work from home, or prefer a quiet neighborhood, they may become angry 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 stay in their rental home in peace.

So, is getting an investment property next to a school a good idea? That depends! Every rental property owner’s situation is distinctive, which means that you are the best person to know whether a nearby amenity like a school would be good or bad 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 can assist you with that! Contact Real Property Management Landmark to learn how our Mineola property managers help rental property investors determine whether an investment property is a perfect fit for your portfolio.

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