The Pros & Cons of Students As Tenants

When I recommend one or a group of students as tenants the immediate reaction of many landlords is often one of fear and trepidation. key house

These feelings are probably based on memories of their own years as a student – and all the things that happened back then – wild parties, large groups moving in and out with reckless abandon, more parties, overcrowding, sharing with someone who knows someone, 6 cars parked over the lawn and up the street.

It’s comforting for landlords to know that the world has changed.

In particular the student accommodation market has changed

Firstly every tenancy application is more heavily scrutinised, including thorough checks on students.

Also the market place is also delivering a variety of new tenants – the international student market is growing and demanding a high standard of student accomuni studentsmodation.

I’m not talking about small pokey student accommodation, but students renting the apartment, townhouse or house you have bought as an investment.

These overseas students value the education they have the opportunity to access in Australia and are generally highly committed to their studies.

They usually have substantial funds for daily living expenses when compared with local students, consequently, they have lifestyle and housing needs which are at a very different level to those of the average student 20 or more years ago.

Whilst I am not saying that every student tenant is going to perform perfectly, the scenario has certainly changed, and provided that all normal pre-tenancy checks are performed, students can make great tenants.

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About

Leanne is National Director of Property Management at Metropole and a Property Professional in every sense of the word. With 20 years' experience in real estate, Leanne brings a wealth of knowledge and experience to maximise returns and minimise stress for their clients. Visit: www.metropolepropertymanagement.com.au


'The Pros & Cons of Students As Tenants' have 3 comments

  1. Avatar for Property Update

    March 25, 2014 @ 8:47 pm John

    Thanks Melodie, that’s a good idea. I will need to wait until the lease agreement expired in the next 8 months, unfortunately.

    I learnt my lesson and will put the “gardening contractor in the rent” clause.
    Many thanks.

    Reply

  2. Avatar for Property Update

    March 24, 2014 @ 11:54 am Melodie

    I agree that international students are, generally, more reliable than local students. This comes from having enjoyed?, well experienced, both. I found that the simplest solution for John’s comment on gardening is to include a gardening contractor in the rent. The tenants were very happy with this and learned a little about how to care for a garden too… some future landlord will gain a better tenant.
    Cheers

    Reply

  3. Avatar for Property Update

    March 23, 2014 @ 4:44 pm John

    One of my IP (a house) is tenanted by students. One thing that annoys me is they never looking after the garden. Although, it’s stated in the lease agreement that they have to look after the garden, it seems they never do anything about it. I keep asking the Property Manager to ask them to ask the tenant to look after the garden. Very annoying.

    Reply


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