As the time approaches for students to make their decisions on next year’s living arrangements, some people look to Mom and Dad for more help than usual.
Some parents consider buying homes in the area and renting them to their children instead of going through the traditional rental process.
Jake Mathias, a senior in circulatory technology who has lived in a Riverwatch Tower condo owned by his father for a year, said there are obvious benefits to living in a home owned by his parents.
“If you rent from the office, you can’t do what you like with the condo,” he said. “Since my dad owns it, I got to install some desks. We also put in carpeting.”
Parents benefit from buying a home rather than paying their child’s rent to a local landlord. Once their child graduates or moves out, the property can be sold or rented out to other students.
During their days at Ohio State, Linda Lucas’ son and daughter both lived in a Grandview-area condo she owns. Her children and their roommates all signed nine-month leases and paid rent to her every month.
Lucas has owned the condo for five years and is renting it to her daughter’s friends. She plans to sell the condo in the spring.
Her reasons for buying the condo away from campus varied.
“We had some very big concerns with safety. We felt there would be less crime in this area,” she said. “Also, our intent was to sell it. We wanted to be able to market it to many people, not just limit it to university-related students.”
Lucas cautions parents to keep their children’s interests at heart. Initially, her son wasn’t happy with the location because he wanted to live closer to campus.
Though both students and parents can benefit from this situation, not everyone is happy with the idea. Roger Deal, president of the Homeowner’s Association of Northwood Park, believes there are certain drawbacks.
The historic Northwood Park district is home to many families and older adults. Four homes in the area house students whose parents own the property. One other home was bought by parents who put the property in their child’s name, Deal said.
Deal’s main problem lies in a declining owner-occupancy rate. This statistic counts each owner who actually resides in the home he or she owns. For students living in homes owned by their parents, the owner-occupancy rate drops, which is bad for the upkeep of the area, Deal said.
“If the area is full of landlords who are going to rent the home out or sell it, then what do they care about fixing streetlights? If I had magical powers, this area would always be 98 percent owner-occupied,” he said.
Residents with families may also be apprehensive about exposing their younger children to the college lifestyle, Deal said.
Willie Young, director of Off-Campus Student Services, agrees not everyone is excited about having a college student as their next-door neighbor.
“They are concerned with noise and that the transient population may add to the decline of the area,” he said.
The dilemma Young faces is that he often finds himself stuck in the middle.
“The situation may not help the quality of life for the private homeowners, but it does help improve the quality of life for the student,” he said.
Young and Deal both agree that the living conditions of the student can be better controlled when a parent is the landlord. Parents may be able to provide their children with an environment similar to the one they grew up in, Young said.
With a typical off-campus landlord out of the picture, it may be hard to resolve issues within the neighborhood, should they arise.
“I have seen problems in neighborhoods where students are social. Who do you appeal to in these situations?” Young said.
Mutual respect by all parties involved is key to keeping conflicts to a minimum.
“There are students who have been a joy to have in the neighborhood,” Deal said.
Many students are happy to have the opportunity.
“I would recommend this situation to other students if their parents are laid-back about it and the students are reliable,” Mathias said.