Landlords often have an aversion to letting their property to students.
They probably envisage wild parties, recklessness and so on.
Student accommodation however, has changed, as every tenancy application is much more heavily scrutinised.
The international student market is growing exponentially and there are demands for higher standards of accommodation.
International students generally value and cherish their opportunity to study in Australia and are very committed to their studies.
Most have adequate funds to cover expenses as compared to local students and provided all the normal pre- tenancy checks have been made, this particular demographic can make very good tenants.
Some insurance providers may offer a discount if you rent to students, so do some shopping around.
January and February are the peak months for students looking for accommodation, so ensure that any work or decorating before the start of the semester.
If you’re renting out each bedroom individually rather than renting the whole property to a group of friends, you may get your tenants to sign individual tenancy agreements instead.
Renting to students can be quite lucrative and with open communication and a respectful relationship, the relationship can run just as smoothly as renting to other demographics.
Have a look to see how RealRenta can assist you with managing the relationship with your tenants, whilst always maintaining a veneer of professionalism.
Start your free trial here: https://app.realrenta.com/Signup.aspx
Saturday, 10 August 2019