When I recommend one or a group of students as tenants the immediate reaction of many landlords is often one of fear and trepidation.
These feelings are probably based on memories of their own years as a student – and all the things that happened back then – wild parties, large groups moving in and out with reckless abandon, more parties, overcrowding, sharing with someone who knows someone, 6 cars parked over the lawn and up the street. It’s comforting for landlords to know that the world has changed. In particular the student accommodation market has changed.
Firstly every tenancy application is more heavily scrutinised, including thorough checks on students. Also the market place is also delivering a variety of new tenants – the international student market is growing and demanding a high standard of student accommodation.[sam id=41 codes=’true’]
I’m not talking about small pokey student accommodation, but students renting the apartment, townhouse or house you have bought as an investment.
These overseas students value the education they have the opportunity to access in Australia and are generally highly committed to their studies. They usually have substantial funds for daily living expenses when compared with local students, consequently, they have lifestyle and housing needs which are at a very different level to those of the average student 20 or more years ago.
Whilst I am not saying that every student tenant is going to perform perfectly, the scenario has certainly changed, and provided that all normal pre-tenancy checks are performed, students can make great tenants.