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Published on Aug 22, 2022 | Updated on Aug 12, 2024
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Many students from across the globe find North America an attractive place to pursue their college or university education.
According to data released by Immigration, Refugees, and Citizenship (IRCC), Canada’s international student population stood at over 1 million at the end of December 2023 . Similarly, the United States welcomed over 1 million students from abroad in 2023 . India and China comprise the bulk of international students in both countries, followed by countries like Vietnam, South Korea, and Nigeria.
If you plan to rent to this growing demographic, here’s your in-depth look at what international students value when searching for a suitable rental unit and how to screen potential tenants effectively.
International students value reasonably-priced accommodations with basic amenities, much like their domestic counterparts. Preferences and needs will vary, of course. But most students will be preoccupied with their studies. Their goal is to obtain a degree, not live in a lavish penthouse downtown.
Here are some criteria likely to appear on their rental checklist.
Students want a place close to grocery stores, shopping centers, banks, transportation hubs, restaurants, and other amenities. Adjusting to a new home will be easier for them if they have everything nearby to meet their basic needs.
A rental property within walking distance of the university campus is also helpful, as it reduces their commute time.
Does your rental unit offer simple furnishings, like tables, chairs, beds, and couches? If so, you’ll score extra points with international students. By including these in your rental unit, you’ll save them the trouble of having to acquire them on their own.
Your unit should also offer basic appliances, like a stove, microwave, fridge, and a washer and dryer set. Ensure all items are in working order before advertising your property.
For many international students, it’s likely their first time being abroad on their own. Naturally, safety and security are important to them and their families back home.
Some security features you may want to implement are deadbolt locks and smart doorbells. Security cameras and adequate lighting near the building entrance and parking lots are also helpful. Consider installing an alarm system, too.
There’s no need to overspend on security, but you should take the necessary precautions to ensure your tenants’ safety.
International student tenants may need flexibility in their lease terms depending on how long they plan to stay in the country. For example, some may wish to sign only a nine-month lease, as they plan to return to their home country once the school year ends.
Many students lack formal work experience and credit history in the country where they’ll be studying. You may have to gather information from diverse sources, some of which may come from overseas.
Always verify that the student has the necessary documentation to enter the country, attend school, and work.
International students who wish to attend a college or university must obtain a study permit from the Government of Canada. The organization that issues them is the IRCC . However, some students may be eligible to get one faster through the Student Direct Stream .
Students pursuing their studies in Quebec must acquire a Quebec Acceptance Certificate (CAQ). They can only apply to a post-secondary institution approved by the Quebec government.
To apply for a study permit , international students must have the following documents:
In addition, they must present proof of income (such as a bank account in their name) to support their tuition, living expenses, and return transportation.
Once the student receives permission to enter and study in Canada, the IRCC will provide them with a letter of introduction. They must present this document to border agents when they arrive in the country.
Students anticipating a stay of fewer than six months in Canada need to apply for either a travel visa or Electronic Travel Authorization (ETA). Those who wish to work more than 20 hours per week also require a work permit.
International students pursuing a post-secondary education in the U.S. must obtain a student visa.
The most common visa is the F-1 , which allows a student from overseas to attend an academic institution and work part-time on campus for a maximum of 20 hours per week (work options expand after the first school year). M-1 visas are also available for students who want to pursue vocational studies.
An international student must apply at a SEVP-approved institution to secure an F-1 or M-1 student visa. Upon enrollment, the institution will register them in the Student and Exchange Visitor Information System (SEVIS), which requires payment of the SEVIS-I901 fee. The student will then receive Form I-20, which they must present at a U.S. Embassy or Consulate when applying for a visa.
An international student in the U.S. must also have a passport that is valid for at least six months after the program’s completion date. In addition, they can only enter the country up to 30 days before their program start date.
A student visiting Canada or the United States to attend college likely has little to no experience with its financial system. They may have never obtained a loan from a bank, filed a tax return, or held a job with an employer in either country.
Although they may have a solid credit score in their home country, it doesn’t affect their credit standing in North America. When they arrive, they’re essentially starting from scratch.
As a result, you may have to do a little digging when screening international student tenants. Here are some areas to determine whether they can afford to pay your rent:
As a landlord, you have the right to inquire about a student’s finances, background, and circumstances.
Here are some questions you can ask them:
While the above questions are perfectly legal to ask a rental applicant, there are others the law prohibits you from asking. These rules are in place to ensure individuals who apply for tenancy aren’t subject to discrimination.
In Canada, the Canadian Human Rights Act bans landlords from inquiring about topics related to the tenant’s race, religion, sexual orientation, gender identity, marital status, and other protected characteristics. Similar laws exist in the United States in the Fair Housing Act .
It’s also illegal to deny tenancy to a student in Canada simply because they’re new to the country . For example, the fact that they have a non-existent credit score is not a legitimate reason to dismiss them as tenants.
Learn more about tenant screening laws in Canada to avoid legal missteps when renting to international students. Tenant screening laws in the United States differ, so be sure to familiarize yourself with local legislation.
Renting out your property to an international student can be a reliable way to generate rental income, but it also comes with risks. These include the potential for property damage, disruptive behavior, and abrupt lease cancellations.
However, these issues can arise if you rent out your property to a domestic student, too (or any tenant, for that matter). To reduce these risks, ensure you employ a thorough tenant screening process that deals with the extra challenges of vetting an international student, such as a lack of credit history.
Learn more about how to screen international students and access foreign credit histories with SingleKey’s International Credit Check.
