Wednesday, January 31, 2018

Student Tenant: The Pros and Cons

There are many houses available for rent such as house for rent in Cyberjaya. If you have a property located nearby education institutions such as colleges or universities, it can be both a blessing or a curse, depending on your tenants. The advantage of having your property near to education institutions and having students as your tenants is that you will have a constant stream of potential tenants. However, with advantages come with its disadvantages as well. Here are some pros and cons that you should bear in mind when it comes to renting out your property to students.
Pros
1. Less picky
Students are generally less picky as compared to expatriates, corporate tenants or young working adults. All they need are a bed, stable Internet connection, desk and chair, kitchen and bathroom and that is sufficient. After all, they just need a place to work on their assignments, study, take a shower and sleep. Moreover, they will be spending majority of their time in their campus instead so the decoration of your property will not matter a lot to them. As long as the basic necessities are provided, you are good to go.

If you are scared of losing something in your property, do keep an inventory lists of things available before the tenants move into your property. In addition, remember to inform your tenant on the prohibited items or pets into your property to prevent unnecessary problems.

2. Continuously occupied
Due to the fact that your property is located nearby to university or college, you will not need to worry on vacant unit as they will be a steady constant stream of students. It is guaranteed that your property will always be occupied. In addition, it is very likely that your tenants will be renting on a longer lease instead of short term rental.

If you are one of the fussy landlords out there who is very strict with the type of tenants, you could choose from the wide range of potential tenants among the students and choose your ideal tenants for your rental property. In order to attract more tenants, do make sure your rental rate is priced at an affordable and reasonable price. Do maintain good relationship with your tenants as well to keep your property well maintained.

3. Financially reliable
Most students studying in university or college are still depending on their parents financially. In addition, some of them are also under scholarships, student loans or other financial aids that help to support them in terms of university fees. Therefore, paying rental should not be so much of a big issue for them. Some parents might even pay you on a semester basis to make it more convenient for their children. Nonetheless, if you are still worried, you can always ask for a 2 months deposit to be paid to you before they move in. As a rule of thumb, renting by rooms is a better choice than renting out your whole property.

Cons
1. Irresponsible student tenants
Most students tenants are staying on their own without any parental guidance, therefore, be prepared with some surprises that they might throw at your face. This might lead to some irresponsible and unforeseen acts that will bring harm to your property. Some students might throw parties at your property on a weekly basis or even bring in some harmful and illegal substances to your property. This will in turn spoil your reputation and credibility as a homeowner. Therefore, it is important for you to know what kind of students you are renting your property to.

2. Unpredictable new tenants
Do not be surprised to find out from your neighbor that you suddenly have extra 5 students staying in your property instead of the original 3 tenants. Most of the time, students will bring their friends over for a stayover which will then end up being your unofficial tenants. The problem is that the bigger your rental property is, the stricter you have to be with your terms and conditions to prevent students from bringing unauthorized “tenants” to your property.

As a precaution step, you should state clearly in your lease agreement on the maximum of tenants allowed in your property to prevent unwanted issues. In addition, you should check out on your property on a regular basis as well to prevent any additional tenants.

3. Little understanding from students
Most students are still considered as young adults who have just left home to further their studies, hence, are immature at times. As they are still young, they might not prioritize cleanliness as they are used to having their parents to clean the house or having a helper at home to deal with cleaning. Therefore, they might end up dirtying your property by not disposing the trash in a proper way without realizing that they did something wrong. That being said, you will need to understand that they are currently still learning to identify the right and wrong, should and should not when staying in a rented property.

In conclusion, renting out your property to student has its own set of pros and cons. To avoid unwanted problems, you could always choose to scan through your potential tenants before leasing out your properties. Make sure you know who are renting your property to. It is also important to set some rules and have mutual understanding as a precaution between the landlord and the tenants to prevent unwanted problems in the future.







12 comments:

  1. good info to read, thanks for sharing . Btw i agreed with all yr point

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  2. yaaa.. sometime need to do random checking to make sure they follow the rules. Tapi kalau dpt tenant yang bagus mmg lucky la.. kan

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  3. pentingnya sebenarnya kena tahu siapa penyewa, even student sekalipun

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  4. Sis kalau nak sewakan rumah memamg selalu cari yang dah berkeluarga, tak suka sangat cari student sebab takut rumah kotor dan tak terjaga...tapi kalau dapat yg bagus kira beruntung dan nasib..:D

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  5. Couldnt agree more. I help my father to manage his property. We also experience the same thing. Somehow prefer female students rather than male and i also agree with the random check.

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  6. Love to reading your entry. Yes there have a lot of pros & cons rent you home to student. But depend on you if you want them to be your tenant, Just make sure they follow your rules. ;)

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  7. Interesting topic, I enjoy reading the story, thanks for sharing :)

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  8. it all depends on our luck if we get student tenants or any tenants at all who knows how to take care of our homes and pay on time.. huhuhu

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  9. Right agree, rentals at those who already have a family happy a little bit, because hard nak unplug run reason diaorang already there clean nak hangkut ... moreIf bujang senang nak lari carry bag jer pound he he he

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  10. It depends what type of student that rent the house. Some they know how to take care the house.

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  11. wow, some students who is very ambitious will make the home feeling like heaven.. some cannot tolerate..

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  12. Memng akan ada pro dan contra..kene bijak untuk sewa rumah atau bagi orang sewa rumah ni..

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