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.
good info to read, thanks for sharing . Btw i agreed with all yr point
ReplyDeleteMawardi, thanks for your support. :)
Deleteyaaa.. sometime need to do random checking to make sure they follow the rules. Tapi kalau dpt tenant yang bagus mmg lucky la.. kan
ReplyDeleteBee, I agreed with you but is good that we do check it out first.
Deletepentingnya sebenarnya kena tahu siapa penyewa, even student sekalipun
ReplyDeleteAyu, betul. We don't want to be cheated later.
DeleteSis 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
ReplyDeleteKak Hanny, betul. We have to spend more on renovation if they damage our property.
DeleteCouldnt 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.
ReplyDeleteNur, thanks for the idea too. Female is much better than male but it depends too.
DeleteLove 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. ;)
ReplyDeleteLia, thanks for your support. I agreed with you too.
DeleteInteresting topic, I enjoy reading the story, thanks for sharing :)
ReplyDeleteIvy, you're most welcome. :)
Deleteit 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
ReplyDeleteMiera, agreed with you but majority won't do that.
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ReplyDeleteRight 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
Iffah, betul. Family susah sikit.
DeleteIt depends what type of student that rent the house. Some they know how to take care the house.
ReplyDeleteBetty, just minority of it.
Deletewow, some students who is very ambitious will make the home feeling like heaven.. some cannot tolerate..
ReplyDeleteSyafiera, betul. If we got those students, we are indeed lucky. :)
DeleteMemng akan ada pro dan contra..kene bijak untuk sewa rumah atau bagi orang sewa rumah ni..
ReplyDeleteNadia, betul. We must act smart before feel disappointed later.
Delete