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Elliotte, That is great to hear. You should be very proud of yourself. What a great role model for your child.

Elliotte, Will you be actively searching for tenants too? When my husband and I wanted to stay in Melbourne for a couple of weeks in 2008, I put an ad on Gumtree. A lovely lady answered my ad, and we were offered accommodation. $300 per week, and it included a basic help yourself breakfast...

You sound like you are on top of everything. Maybe it was a dead body:eek: It will be certainly be a full time job keeping vacancies at a minimum, with the amount of rooms you have to offer. Having a high turnover is never a bad thing, if you are self managing. You can keep on top of any...

I think some people like having other people around. For others it might be the flexibility. Most likely, the qualification for a lease may be lower too?

Thanks for the update. Very exciting :)

Do you have any updates for us?

Thanks. The closest we have to a boarding house is an 11 unit building with furnished, all inclusive bachelor suites. Each unit has a private bathroom and kitchen and of course a bed in the room.Self contained little units. We started out renting only to uni students, and then it gradually...

That may be true, but when you are just doing a pest and building inspection, and already barracading yourself away from the tenants, imagine what it would be like if he actually had to evict one ! Easier to start with a clean slate. People would be more apt to rent there, when the current...

You may want to consider having a sign made: New Owners New Rules Safe Place to Live

What a fantastic opportunity you have !! We bought an 11 unit family building..and found out later of the bad reputation. We cleaned out the building, which wasn't hard..but it was 1/2 vacant when we bought. Did lots of cleaning, sprucing up..and repairs. For you, I'd suggest you...