The Joys of Student Tenants

Hi Ozperp, your post caught my eye, and was a very interesting read. While I am not sure who you used as PM and how, but I do know we have declined them in the past. I have viewed student accommation as much say like holiday rentals and are from my opinion, very labour intensive, and add furniture etc, that doubles checklists inspections etc. I do appreciate they are very good cash flow IP when going well, but from what I have observed, the good ones have had a hands on owner.
Hope things continue to go well for you.
 
Hate to be racist, but Indian students can really be a handful, especially if they're the type who work that late night taxi job (who I always chatted to in my old job which finished in the wee hours of the morning), study at a rogue college and so forth. I know it's not their fault that they're born into the circumstances they are in, but just food for thought more than anything.
 
Deltaberry said:
Hate to be racist, but Indian students can really be a handful
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I have had multiple Indian tenants and zero problems.

I now have 12 of 16 rooms full, with a real United Nations of tenants (2 Germans, 2 Dutch, 1 Italian, 1 Korean, 1 Chinese, 1 Japanese, 2 Indian, 1 Saudi, and 1 Aussie), and several other applications being processed. I anticipate being full by this weekend.
 
Deltaberry said:
Hate to be racist, but Indian students can really be a handful, especially if they're the type who work that late night taxi job (who I always chatted to in my old job which finished in the wee hours of the morning), study at a rogue college and so forth. I know it's not their fault that they're born into the circumstances they are in, but just food for thought more than anything.
Click to expand...

I have Indian students every year - got two at the moment.

Wish every student was as nice as the Indian ones.
 
ozperp said:
I have had multiple Indian tenants and zero problems.

I now have 12 of 16 rooms full, with a real United Nations of tenants (2 Germans, 2 Dutch, 1 Italian, 1 Korean, 1 Chinese, 1 Japanese, 2 Indian, 1 Saudi, and 1 Aussie), and several other applications being processed. I anticipate being full by this weekend.
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What an international mix! Where is this house located?
What happened to the group of 5 indians?
 
Congrats Ozperp on filling Melting Pot Manor ;) to 3/4 capacity.

May the last 25 % of your residents be equally diverse and BEHAVE themselves :)

Be well
 
JoshyBoi said:
What an international mix! Where is this house located?
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Spring Hill, about equi-distant between Central and Fortitude Valley stations.
JoshyBoi said:
What happened to the group of 5 indians?
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Don't know, didn't get any feedback. Not sure whether they found something less expensive (my guess ;)), or have been slow getting their applications in.
Player said:
Congrats Ozperp on filling Melting Pot Manor ;) to 3/4 capacity.

May the last 25 % of your residents be equally diverse and BEHAVE themselves :)
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Thanks, Player. I've met 9 of the 12 tenants, and they all seem lovely. As they all seem responsible and have been keeping the place remarkably clean and tidy, I bought a BBQ last week, which they've used (and cleaned immediately) nearly every night since. I've put the plasma TV back in the living room, and bought new sofas. (The old ones had been trashed by the evictees to such an extent that splintered 2x1 was poking out through the fabric in multiple places. These sofas were only two years old and in cocoa microfibre - not daggy old things by any stretch. :mad:)

Having my girlfriend living on site has made an enormous difference: 1) If there are problems, I'll know about them quick-smart; and 2) her very presence - and the fact that everybody knows she's living there as the landlord's representative - means that she just hints that the kitchen's not looking quite clean enough, or the rubbish bin looks full, and they hop to it. ;) Bliss!
 
Sounds like a well run camp...:)

Whats the arrangement - I'm assuming your friend lives there for free? So you sacrifice one room for peace of mind and better tenant control? Do you pay here anything for her services?
 
JoshyBoi said:
Sounds like a well run camp...:)

Whats the arrangement - I'm assuming your friend lives there for free? So you sacrifice one room for peace of mind and better tenant control? Do you pay here anything for her services?
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My girlfriend lives in a room for free for which I would otherwise get $175 pw rent. But she does cleaning services in the common areas for which I was previously paying $125 pw, and the other bonuses of having her on site are worth way more than $50 pw. ;) She's younger and single and trying to save money for travel, so she thinks it's an awesome deal. We both think we have the better end of the bargain so it's truly win-win. :cool:
 
ozperp said:
Having my girlfriend living on site has made an enormous difference: 1) If there are problems, I'll know about them quick-smart; and 2) her very presence - and the fact that everybody knows she's living there as the landlord's representative - means that she just hints that the kitchen's not looking quite clean enough, or the rubbish bin looks full, and they hop to it. ;) Bliss!
Click to expand...


Do you think this is the key to all residential investments ??


The Landlord installing one of it's own amongst the Tenants. Is your business model then restricted to the amount of friends you have who are prepared to live amongst the Tenants.


Just jokin', well sorta. :confused:
 
TPFKAD said:
Sounds like that PM who you initially said was doing a good job...wasn't.
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I think they were doing OK, until things went south mid-year last year with some staff changeovers. I've already acknowledged that due to my flood and illness, it took me longer than it should have to pick up just how bad things had gone, both at my property and within the PM company. How does it go? "Mistakes, I've made a few..."
TPFKAD said:
Do you think this is the key to all residential investments ??


The Landlord installing one of it's own amongst the Tenants. Is your business model then restricted to the amount of friends you have who are prepared to live amongst the Tenants.
Click to expand...
Yeah, pretty much!

Hey, I'm with you. I don't think I've ever said that I aspired to own more of these properties, or even that I'd go into this one again if I knew then, what I knew now. But I'm in it now, and determined to make lemonade, mate. And to not buy any more lemons. ;)
 
TPFKAD said:
That's the spirit me ol' choofta !!!
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I have no idea what a "choofta" is, so I'll choose to take it as a compliment. :D
TPFKAD said:
Now, when are we going to get together and do something about these non-lemon type thingoes ??
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Mate, I've put a couple to you... it's getting Mrs TPFKAD on board that's proved the difficult part. You obviously need to work on selling these deals to her, mate. ;)
INVSTOR said:
Do you want to go thirds?
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Maybe I should pop over to Perth and meet up with you both. I'd like to come visit BlueCard! and HiEquity, too. :cool:
 
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