Would you rent to 6 people all under 20 years of age?

[Piston Broke]

I would not base my decision on the age of the applicants.
I would do my research on the company, interview all of them, and then make my decision.

I could just see the likes of WinstonWolfe if a teeneage daughter would want to rent out a place: "Sorry i aint renting to you, your probly gonna run a brothel".
With that attitude i would expect your student tenants to trash your place.
Your tenants are your customers and they pay your bills. I dont have to point out what happens if a business treats it's customers like SH!~. They tend to give it back, with interest.

In this case, they are not uni students. They are working adults. And it seems they actually got a job.
Of course you cant know without research, but thats the gig of being a landlord is'nt it?
Or am I the only one who seems to know many well presented & mannered young people, willing to work?

Or is it just a shitty attitude cause the RE "thing" isn't working out as easy as they said it would at the seminar?

"Nobody gives it to you for nothing, you have to work for it." me.

 

[Ausprop]

i would begrudge renting a house to 1 person, let alone 6.

 

[phil]

I would not base my decision on the age of the applicants.
I would do my research on the company, interview all of them, and then make my decision...

And generally I don't think anyone here would argue with doing the appropriate research in advance, but at the end of the day its a risk-analysis process, and from previous experience or whatever, most people ( including myself ) would not take that risk if in a similar position. Simple as that.

Contrary to yourself, part of my 'risk analysis' *would* be based on the age of the applicants. Generally younger people do not have the experience or maturity to make the wisest of decisions.

Phil

 

[wylie]

Last place we rented was to three young people. I must say I did have reservations as I have a son just younger than these three.

In my case, my son doesn't throw or attend wild parties, but I reckon it is about a year since he cleaned his bathroom .

When I called in to this place to actually sign up the third tenant (about two weeks after the first two signed up) there were about four young men on the back deck drinking and smoking, one of my my tenant. Nothing wrong with that, but I do know that these three people are not in any relationships, so potentially three lots of friends could be in our house at the one time.

Whilst we generally do not do mid-term inspections, I do plan to do one with these tenants, just to put my mind at rest. They seem nice young people, but let's face it, young people do like to drink and party (just like older folk ) and, for me, the difference with our current tenants is that they could each decide to have a few friends over, and suddenly the house is holding 20 people. That could be fine, but it could turn bad.

So don't be so quick to judge Piston Broke. I judge potential tenants on lots of things, mainly gut instinct, and would not refuse to rent to young people. However, SIX young people in one house would be tempting things a bit. But I would still meet them and check them out.

I wouldn't want SIX older people renting one of my houses either. What does that make me?

 

[ianvestor]

Your tenants are your customers and they pay your bills. I dont have to point out what happens if a business treats it's customers like SH!~.

If you don't take under 20's as tenants, then they WON'T be your customers. Therefore you can continue treating your actual customers well.

Imagine a dentist, taking on everyone as a customer, then when one customer complains that his back is sore, not his teeth, that dentist would invariably have some pretty poor customer service toward that person. A better business would be to not take on those kinds of 'customers' in the first place.

Not discriminating properly at the door is just bad business sense.

 

[ianvestor]

I wouldn't want SIX older people renting one of my houses either. What does that make me?

...Normal.

 

[Ausprop]

If you don't take under 20's as tenants, then they WON'T be your customers. Therefore you can continue treating your actual customers well.

Imagine a dentist, taking on everyone as a customer, then when one customer complains that his back is sore, not his teeth, that dentist would invariably have some pretty poor customer service toward that person. A better business would be to not take on those kinds of 'customers' in the first place.

Not discriminating properly at the door is just bad business sense.

I hear a lot of this idea on here that tenants are customers, but is the tail wagging the dog here? I would contend that the landlord is the customer. The landlord pays a lot of money in order to have a tenant in place and the tenant keeps the landlord on a short leash via the rights of the RTA. Pesky landlords try to over step their rights from time to time but the tribunal will soon put them back in their place. In short, tenants are providing a service for which landlords are willing to pay handsomely. The servant has become the master. So... would you prefer six under 20 masters over someone else?

 

[jaycee]

I would not base my decision on the age of the applicants.
I would do my research on the company, interview all of them, and then make my decision.

I could just see the likes of WinstonWolfe if a teeneage daughter would want to rent out a place: "Sorry i aint renting to you, your probly gonna run a brothel".
With that attitude i would expect your student tenants to trash your place.
Your tenants are your customers and they pay your bills. I dont have to point out what happens if a business treats it's customers like SH!~. They tend to give it back, with interest.

In this case, they are not uni students. They are working adults. And it seems they actually got a job.
Of course you cant know without research, but thats the gig of being a landlord is'nt it?
Or am I the only one who seems to know many well presented & mannered young people, willing to work?

Or is it just a shitty attitude cause the RE "thing" isn't working out as easy as they said it would at the seminar?

"Nobody gives it to you for nothing, you have to work for it." me.

Hi PistonBorke,

Again, As I said, we were answering a question posed here - would YOU rent to these 6 young people ? We only had the information provided to bi by & pple answered what they would do &qualified why that is.

You have refucsed to say y / n.

I would say no.

As per Wylie, I would probasbly say no to 6 oldr people too.

In order to make your complaints against our "no" answers more relevant, would you rent to these 6 young people or not ?? And WHY would / wouldn;t you ?

 

[silversands]

just a thought... I prefer to think of myself in terms of a discerning LL rather than as a discriminative one. It's a much nicer word! The sheer number of people would likely put me right off.

Jodie

 

[boomtown]

I would rent to the company on commercial terms.

Get an experienced commercial property lawyer to draw up a contract heavily weighted in your favour. Cover your credit risk through a very large deposit or bank guarantee held by you - not some Tribunal.

Company is required to indemnify you for any damage. They can then pursue it with the tenants themselves. You dont need to know the tenants and you dont care.

As part of the commercial lease I would require the company to impose a Code of Conduct on its employees.

If they wont play ball or your property lawyer says it cant be done that way for some reason - dont do it.

 

[Piston Broke]

Jaycee, I would require more information. It's not a yes or no question for me.

Boomtown makes some great suggestions, but that would also depend on the relationship between the renters & the company.
Is the director just looking for them?
Or is he willing to take responsibility for damages?
Should you take a bond from each person? How much?
Who's name/s will be on the lease agreement?
You need to cover yourself as best you can, and price it in the offer.

---
I did'nt say you cant choose who you do business with. You should.
But based on business principles, not some hysterical prejudice.
I was renting & managing an IP in my early 20's, and I think I had less problems than most others. It's part of the business.
Infact they more the bitched about there problems & tenants, the more dramas they seemed to have!
And I don't believe there is such a thing called "hassle free" income.

 

[kathryn d]

The house has six bedrooms. Who would want/ need a six bedroom house?
If you don't want six people to share the house, I'm curious as to what type of tenant you are looking for?
Grandparents, who grandchildren visit every year?

 

[f4j]

I lived in a place like this when starting out, 7 tenants + guests every night.
It was awesome.

Exploding dogfood, bong water and vomit on the carpet, windows smashed, police visits. Great fun.

On your situation I'd only agree if the company accepts complete liability...it sounds like a nice place.

 

[Ausprop]

I lived in a place like this when starting out, 7 tenants + guests every night.
It was awesome.

Exploding dogfood, bong water and vomit on the carpet, windows smashed, police visits. Great fun.

On your situation I'd only agree if the company accepts complete liability...it sounds like a nice place.

in London I stayed in a place that had up to 13 people in a 3.5 bed terrace. I shared the "laundry" but in time graduated to a proper bedroom. Was a great party place too. I heard that a couple of years later the place was effectively demolished during a huge party - a shame and I feel sorry for the owner, I think he was quite a nice guy in hindsight. He didn't even get too upset when we figured we could reverse charge call the "recieve only telephone".

alas, it is just the nature of tenant vs landlord. neither side shall ever be happy.

 

[Cashflow]

No way! Even with 2 months bond this may still not cover repairs needed. Imagine the parties that will happen. Your neighbours will eventually report the noise and carryon to both the police and council.

If you go ahead make sure the company is on the lease and is accountable for the rent and repairs and not the tenants. You'll find the house may become a halfway house and the blame for damages will be shafted from one person to another. Also consider a gardener/lawnman on a fortnightly basis as well as a weekly cleaner - make sure they hire a reputable company ie jims etc and you are supplied with a copy of a paid invoice every week/fortnight if they are not supplied you may enforce a penalty (which will have to be stipulated in the lease). I would also have the property checked every 3 months at least and if possible make sure you carry these out yourself as what an agent tells you may not always be accurate. I also recommend you check fully the inspection report before they enter and take a full collection of photos of every room and fitting that is in the house when they move in - give a copy to your agent (if you use one) and also keep one for yourself.

If I was you I would reduce the rent for that 6 month period for a quick rental and then in 6 months put the rent back up.

Good luck and please keep us posted as to what you decide.

Peter

 

[jaycee]

Jaycee, I would require more information. It's not a yes or no question for me.

Boomtown makes some great suggestions, but that would also depend on the relationship between the renters & the company.
Is the director just looking for them?
Or is he willing to take responsibility for damages?
Should you take a bond from each person? How much?
Who's name/s will be on the lease agreement?
You need to cover yourself as best you can, and price it in the offer.

---
I did'nt say you cant choose who you do business with. You should.
But based on business principles, not some hysterical prejudice.
I was renting & managing an IP in my early 20's, and I think I had less problems than most others. It's part of the business.
Infact they more the bitched about there problems & tenants, the more dramas they seemed to have!
And I don't believe there is such a thing called "hassle free" income.

Of course, all those questions would be considered... should the answers be available.... And to the landlord who will make this decision, they are avaiable and will automatically be part of the decision...

In our cases, the answers were answering a question based on the information provided, as was requested of us, without knowing all the answers to some og the above things, which for some may put their mind at rest also and see them agree - just like yourself.

Ausprop, LOL at reverse charging calls to the receive only phone line