Ideal' Tennants

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From: Anonymous


Hi Folks

A quick question for those who have some advice to give on "suitable/ideal" tennants.
A friend has recently purchased an IP and has just received word from the agent that they have received an application on the property. The property is a brand new 4 Brm House.
The applicants are 3 young people (2 guys - 1 is 20, the other 21) and 1 girl (20 yr old. All currently live at home so I would assume this is their first time "out of the nest" and all have employment.

Just wondering if there are any thoughts about whether these people would make 'ideal' tennants (I suppose it's always hard to find the 'ideal' tennant). My friend is a little wary (I think he remembers when he was this age!) about whether having these 'ripe young babes' would be the best sort of tennants.... (insert images of wild parties and the place getting trashed here!)... and yes he does have landlords protection insurance.

Any thoughts that people out there have about their experiences with tennants and 'what makes a good tennant' that I could pass on would be appreciated.
 
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Ideal' Tenants

Reply: 1
From: Felicity W.


Hi
We had a similar situation, we had an application from two girls to rent our new apartment. The agent actually spoke to the principal from their school for personal references, and they were good.
We took a chance on them, and they were excellent tenants - only problem was that they broke the lease so they could travel overseas.
Keep smiling
Felicity :cool:
 
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Sim

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Ideal' Tenants

Reply: 1.1
From: Sim' Hampel


My experience has been that young single males find it very difficult to find rental accomodation in a tight rental market due to the perception that they will hold wild parties and trash the place.

Young single females are more likely to get accepted. A mixture of males and females is also seen as a bad idea.

I remember back in Uni some of my male friends resorted to wearing suits and ties to view rental properties to convince the agents that they were "young professionals" and were not going to trash the place.

That was in Adelaide where the rental market has always been very tight. You would typically have up to a dozen and sometimes more applicants for a single tenancy.

If you are not getting this level of interest (and given the current state of the market I would be surprised if you are), then accepting younger people may be your only option to ensure the place is tenanted and receiving rental income.

Maybe your advertising strategy needs attention or review if you are not getting any other interest ?

 
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Ideal' Tenants

Reply: 1.1.1
From: Sergey Golovin


Passing by on highway at Lane Cove Sydney we have seen about half dozen young people queuing up patiently for rental property at about 13:00 on last Saturday.

I am thinking my self - what is so special about that place? Well, it is a house, but on main road and right next to bus stop. But I have to say the pub and shopping centre were right across the road.

Still, can't get over it...
I do not know if they are desperate, or if it is good position (with millions of cars at your window waiting for traffic light to get change over), or cheap rent, or what?

Serge.
 
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Ideal' Tenants

Reply: 1.1.1.1
From: Manny B


I have leased out a brand new detached 2br Unit that I had built to a male (19yrs old) first time out of home (had good references from his employer) & a female (22yrs old) that had a good past rental history (by the way, they are not a couple, just flat-mates, each use a bedroom). They have been in there over a year & haven't received a phone call from the agent for any repairs & they always pay on time... The few times I have inspected the place they do keep it clean & the girl in particular seems to say how happy she is in this place (as she seems to love the new kitchen)...

I must admit I was a little worried at the start & took out landlord insurance (which you should always take-out regardless), but looking at it a year later I think I made a good decision letting it out to them...

Manny.
 
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Ideal' Tenants

Reply: 1.1.1.1.1
From: Michele B


It seems I'm specialising in this sort of tenant just lately - larger 4 BR villas close to Adelaide's cbd seem to attract 3 to 4 young working singles, often straight from home. Girls, guys, mixed - they've all been great tenants, probably because they're keen to do the right thing. A plus for the landlord is that they're not fussy either - they don't seem to notice the lack of European appliances and air conditioning (they go to the beach instead) and often get on well enough with the neighbours to invite them to their parties!

The trick is picking the right ones in the first place as it is with all tenants - a comprehensive application form and some thorough checking is the only way. I learned the hard way that applicants aren't always what they seem and the ones that caused me grief previously would not get past my current checks.

Michele
 
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Reply: 2
From: Michael G


Hi,

Why not ask for a premium on the rent?. Insurance do the same thing for cars, why not you?

For car insurance it used to be under 25, I think that now is under 30.

If you rent was $180/wk, then three people would be $60 per person. You could also boost that to $100 per room. boosting your rent to $300/wk

By the way in New Zealand that have a neat sublease system. Basically one lease for the property and subleases for each room. That way if one walks out and you get another in, you're not have to draw up a new lease or pay a new leasing fee onto of the whole amount, just a portion of it.

Anyway from NZ care to explain this in more detail?, I'd be interested myself.

Regards
Michael G.
 
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Reply: 2.1
From: Arthur A Worley


Hi Michelle,

Cannot help you with Adelaide but there is a group in Melbourne called The Sonic Group in Heidelberg, that I am not associated with, that has a very lengthy tenancy application that is very thorough. I had cause to look over it and I was impressed. Also they do not hand out the keys but rather have an open for inspection time that all the interested parties come to. It gives the property managers a greater insight into the potential renters. If you are in doubt about tenants, do as much research as you can.
regards

Arthur
 
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Reply: 2.1.1
From: Anonymous


Thanks to all who replied with their experiences.... much appreciated. Not sure If it has actually helped me give my friend 'difinitive' advice one way or the other on whether he should go with these tennants, but as far as I know there are no other applicants. I guess in the end it comes down to checking out all refs thoroughly and taking it from there. Always hard I guess, particularly when they are not likely to provide references that will not have favourable things to say. But hey, I guess anyone can make their 'application' sound good, but can still turn out to be an 'ordinary' tennant.
Thanks again for the replies and if anyone else has any good advice, feel free to share it.
 
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