This is an interesting case. Housing around a local university...locals upset over maturity of “kids” renting the houses or apartments...loud noise likely a product...so the city passes a law that limits neighborhoods around a university to thirty-percent rented out.
Legally, it’d be a first-come-first-serve situation, and likely fail a court challenge....although taking six months to reach that point.
When I lived in Tucson...they had big problems in the center part of town where the university was located and people were renting out houses in this fashion. At some point, some kids got smart...getting a couple thousand from the parents, and buying the house. They graduated from college, and continued to rent the house out year after year.
In my city, a lot of homes in was access of the post-secondary students are owned by the parents while the kids are in school. When the kids pay the parents an affordable fraction of the mortgage while attending school and the parents make a small profit at the end by selling the him after their kids graduate.
There's another aspect that has come into play in cases like this one: a growing number of colleges and universities are looking to reduce their on-campus housing, and they're partnering with private real estate developers to build off-campus rental housing instead.
Parents do that usually. 4 bedroom. Rent out three and make the house payment