Any experience or feedback to leasing to Metro community housing?

Hi guys,
I just had an application from metro community housing for my 1 bedroom apartment in Sydney eastern suburbs, asking rent, 12 or 24 months. They act as tenant to managing agents, and landlords to final tenants, and pay themselves the rent.
Have any of you had experience leasing out to them, or similar companies? My main concern is loosing control on the actual tenant selection and turnover level, but rent collection seem assured as it is the intermediary paying, not the end tenant.
Thanks in advance
Yann

 

Why is it an issue with losing control of actual tenant selection?

 

Not an issue, just a concern that this is new for me and wondering what are the experiences of fellow landlords who have dealt with these kind of organisation before. I am currently neutral on this, wondering if this is negative or positive.

 

I've not dealt with Metro personally so I can't speak to their actions, but I can comment more broadly.

It sounds like a head leasing arrangement. Different organisations are vastly different to deal with- some of them will put in terrible people and screw you down on every repair cost. Others you wont even know they've been there- some even do your repairs for you!

Speak to your insurer- many don't insure head leases.

 

I have been leasing one of my units to Hume Housing for over 20 years. We are on our second tenant through them. Both tenant were obviously very long term. The first one past away (thankfully in hospital) and the 2nd one is still in place and now has a daughter who is now a beautiful young lady but was just a toddler when they first went into the property.

Both the previous tenant and the current tenant act as if they deal directly with my agent and report problems promptly. We do all the maintenance.

We have had absolutely no problem with dealing through this organisation over all this time.

Maybe I have been lucky as I am sure things would have been different if they were short term tenants and I would have terminated the relationship many years ago if that had been the case. Similarly if they had winged and carried on about every little thing I would have terminated the relationship many years ago.

Can't really comment on how you would go with Metro but like all tenancies they are not for ever and are relatively easy to terminate at the end of the lease.

 

Community housing companies can be good.
However do tend to have more maintenance issues than standard.
I hope this helps

 

Hi there - I also received an application to lease my unit from Metro - do you have any comment of your experience at this stage? I am also unsure

 

Hi David
Too early to say. Only feedback to date is that application was to move in quickly (application to move in the wednesday following a saturday inspection). Rent was paid in advance fine, and there were no requests for maintenance or repair when the tenancy agreement started. i am unsure though if the final tenant has moved in or not.
Metro proposed 12, 24 or 36 months leases with CPI increase, however as it was a first for me and my agent, my agent advised to take 12 months to start with, and sign longer if it sails ok.

 

HI there,
I received an application from Metro Community Housing and also met the intended occupant. NIGHTMARE! The guy was questionable, I declined the application & glad as I feel I dodged a bullet. Nothing is worse than potential damage to property.

 

You could tell from meeting the guy that he was going to damage your property?

 

I value diligent checks more than how tenants present. So far, I have rented to people presenting "questionable" and never had an issue, only issues I had was damage from a tenant with a PhD, and having to go to QAT for an engineer. It has only be 2 months so too early to say, but I will see in inspections and in 10 months when tenancy expires what has been happening with my lease to MCH tenants.