Real Estate Investment in Miami: College Rentals - The Coto Group

Real Estate Investment in Miami: College Rentals

When we hear the word “Miami”, along with “college students”, most of us think about the same thing… Spring break! This is because Florida is indeed a very popular destination for students seeking to put the books away for a few days and enjoy the perfect weather and gorgeous beaches that the sunshine state has to offer.
However, this article is meant to change that mindset. From now on, we want you to see beyond the Hollywood cliché and understand the great investment opportunity before you.

Did you know that Miami is home to more than 50 colleges and technical schools? Some of which enrol thousands of new students each year. The cosmopolitan aspect of the city and the outstanding diversity seen on the streets, make it a great college destination for students from all over the US, as well as international students.

What does that mean for those of us in the real estate business? Rental opportunities!
And what could this mean for you? A high occupancy rate for your rental property!

If you are thinking about buying a real estate property to rent and generate passive income, the occupancy rate should be one of the first things on your mind. The inflow of new students enrolling in college each year should sound like music to your ears (and wallet).

College students make a great business opportunity for homeowners seeking to rent their properties. The fact that most degrees take over a year to obtain (minimum), makes it ideal for renting stability and boosting your occupancy rate.

Consulting an experienced real estate agent is vital for this type of endeavour because to maximize your gains, you need to find a sweet spot that adapts well to student life. You don’t want it to be too far from the campuses, but you also want to be near places where young students can unwind. Also, you must consider college dorms. Another key aspect is to know which universities enrol more students each year and compare that data with the rental distribution within the surrounding neighbourhoods.

Even though it sounds quite complex and there are lots of colleges in Miami, it’s important to know the metrics surrounding this topic in order to make a good real estate investment. That’s why we are going to review some of the top universities in the Miami area so you can narrow down the search for your ideal rental property based on-campus locations.

University of Miami (UM)

– Coral Gables (main location)
– Downtown Miami
– Virginia Key
– Little Havana
– Southwest Miami-Dade County

This private institution is home to more than 15.000 students both undergrads and postgraduates. Located in Coral Gables (main location) is one of the top universities in the state, offering a wide variety of degrees to choose from. With its own teaching hospital located in downtown Miami, it is an attractive school for students all over the country. As a matter of fact, more than 50% of the student body comes from outside Florida. All this translates into higher occupancy rates in the surrounding areas of the campus.

Florida International University (FIU)

– Miami-Dade County (main location)
– Brickell

Florida International University (FIU) is a public research institution with multiple campuses around Florida. It enrols a massive 40.000 students, most of which attend to the main campus in Miami-Dade County. However, the Brickell institution houses its top MBA program (ranked very well in the US), which fits perfectly with the vibe of this great and vibrant area of Miami. Looking into the Brickell financial district is a great way to start your research because most of the MBA programs have flexible schedules, so these students prefer to stay close to the financial district for job hunting.

Miami-Dade College

– Miami-Dade County (main location)
– Little Havana

This one is a non-profit public higher education institution, located in Miami-Dade County. This location is the first one, founded in 1960. Since then, multiple new locations have been opened, like the one in Little Havana which is conveniently accessible from Coconut Grove, Coral Gables, and the Brickell financial district. This great location makes it ideal to scout with your real estate agent, but make sure you get advice from experts in the area.

At the Coto Group, we are happy to provide you with expert advice from our team of real estate agents. With over 40 years of experience, we specialize in most of the areas covered in this article and more.
If you are interested in booking a consult with one of our realtors, please feel free to contact us at the 305.422.9286 and don’t forget to follow us on our social media accounts for more quality content regarding real estate investing at @thecotogroup on Instagram, Twitter, Facebook, YouTube, and LinkedIn.