[William Stearns]

William Stearns

Jean,

In the mid 1970’s I began purchasing older, neglected single family homes near campus. We would renovate them and then rent them to college students. With time, the stock of older properties has diminished and the prices have become unreasonable. In recent years, we have been building new rentals, primarily 6-BR homes on pilings along the river.

We rent to the students with 12-month leases beginning on June 1st. We vave virtually no vacancies and have lost very little rent over the years.

For us, the student rental market has been very profitable. It is however, a management intensive business. Good luck.

Bill Stearns