Have you ever been surprised at a tenant you didn't think would work out?

Discussion in 'Property Management' started by jaybean, 28th Jan, 2016.

Join Australia's most dynamic and respected property investment community
  1. jaybean

    jaybean Well-Known Member

    20th Jun, 2015
    About a year ago I had an apartment that had been on the market for a while. Finally I received an application for the full asking price which came as a shock to me.

    Turns out it was a teenager going to do an arts course, fully funded by her rich father who is a surgeon.

    Great, I thought...I could just imagine the spoiled brat and the wild parties.

    But beggars can't be choosy so I accepted.

    Turns out she's one of the best tenants I've had yet. Very neat and tidy, and just signed another 12 month extension.

    What about you?
    Catalyst, BigKahuna and Gockie like this.
  2. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

    18th Jun, 2015
    Melbourne, Nationwide
    I generally wouldn't approve an application where I didn't feel good about the tenant in the first place, so I can't say that a tenant has surprised me in this manner. I have had vacancies of up to 5 weeks, usually the time of year has a lot to do with it.

    For me a student supported by parents isn't necessarily a significant risk either, especially a single student. We've had several students in one of our properties, never had a problem.

    The tenant that I feel is high risk is the single Mum who's relying on the ex-partner for income. They have an argument, the ex doesn't pay child support for a time, the first thing she stops paying is rent.
  3. kitdoctor

    kitdoctor Well-Known Member

    31st Jul, 2015
    No, more the other way around! Bugger.
    BigKahuna likes this.
  4. Biz

    Biz Well-Known Member

    18th Jun, 2015
    Investard county
    Depends on the property and circumstance but single mums can work out ok. A single mum, no job, 1 kid gets around $700 a week. Child support payments depend on the income of the father but a blue collar type job might only be $100-$150 a week anyway. You can't beat the government handout for reliability.

    For me the dicey applicants are the ones in construction or manufacturing type jobs who haven't been with an employer very long. If they get cut it can take them a while to land another steady job.
  5. BigKahuna

    BigKahuna Well-Known Member

    24th Nov, 2015
    Yeah, young people can be exceptionally neat and tidy. It must happen when they move out. lol.

    I've only had the other way. A tenant presenting as amiable, polite, articulate, neat. After a few weeks in I discovered the Jekyll.
    Leo2413 likes this.