renting to students,should i should i not
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- Joined: Thu Jul 10, 2008 7:53 pm
renting to students,should i should i not
hi i am new to the rental buissness and am in a dilemma. we have just bought a 2 bedroom appartment in agadir/morocco and have decided to rent it out. we have had a few enquiries from my own advertising and the last night i got an email from a student who wants to rent it for 2 weeks with 5 of her studant mates. althugh we could do with the rental income,do you think it would be wise to rent to 5 or 6 students. she has agreed to the price and seems quick to get it booked.i really not sure what to do. please advise. debbie x
We had a group of 17-18 year old interrailers here last summer. With hindsight, this is the one situation where I would, in future, take a damage deposit. Having said that, and also that they managed to put a knife through the fridge door, I would say that they were extremely well behaved, very careful with their money and very entertaining as guests. I would not hesitate to take such a group again, but with a damage deposit (which we don't normally do). But we are on site, which meant we could keep an eye on things. I am not sure I would do it if I was not on site. You could always say that their parents have got to guarantee the cost of any damage.
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thanks for your reply,as we will be in the uk and our appartment in agadir i feel somewhat apprehensive.what if they cause riot.they have been asking how far away from the nightclubs are,and as it is a private residence,i dont want to upset anyone with their late night antics.also im thinking,if shes telling me there will be about 5 or 6 of them,how do i know that there may not be more.as you can see im still not sure what to do.ooohhh dear. debbie x
Debbie you can cover all that in your T&Cs - then make sure they're aware of them before they book. Whoever you have onsite will then make sure they're re-iterated on meet n' greet day.
Under the section 'what you do for us' in my T&Cs I say this;
The client agrees not to act in any way that would cause disturbance to the residents in neighbouring properties and;
- abide by the Ibicencan law of no noise after midnight and no villa parties (as the villa owner can be held accountable as well as the guests)
- play any outside music at a low volume
I can understand your apprehension. It's a tricky one, how do you know who will be a good guests and who won't - so I tend to I rent to all types of groups and weed out the party zone ones by explaining about neighbours.
I have had a group of 17 years olds one year who were actually no problem noise-wise but they had no idea how to use a dishwasher! Or clean...however they made great Pimms!
We take a damage deposit (which I was happy to return to her father) and we're on site. Like Margaret tho' I'm not sure I would have wanted them here if I was an off-site owner and it is a risk for you as your neighbours are all new. For me my neighbours come first - always.
welcome btw!
Mousie
x
Under the section 'what you do for us' in my T&Cs I say this;
The client agrees not to act in any way that would cause disturbance to the residents in neighbouring properties and;
- abide by the Ibicencan law of no noise after midnight and no villa parties (as the villa owner can be held accountable as well as the guests)
- play any outside music at a low volume
I can understand your apprehension. It's a tricky one, how do you know who will be a good guests and who won't - so I tend to I rent to all types of groups and weed out the party zone ones by explaining about neighbours.
I have had a group of 17 years olds one year who were actually no problem noise-wise but they had no idea how to use a dishwasher! Or clean...however they made great Pimms!
We take a damage deposit (which I was happy to return to her father) and we're on site. Like Margaret tho' I'm not sure I would have wanted them here if I was an off-site owner and it is a risk for you as your neighbours are all new. For me my neighbours come first - always.
welcome btw!
Mousie
x
One martini, two martini, three martini floor!
I've rented to student groups before, and they have been fine. But I'm on site and live in a really rural area, so the sort of young people who come here generally aren't the sort who will upset the neighbours. If you take a hefty damage deposit, explain that you have noise restrictions, see if they still want to book and I'm sure you will be OK.
Debbie
What a very tricky situation, I totally agree that should you accept that booking, then you need to take a damage deposit, however I think it should be a quite a bit more than normal.
If they should disturb the neighbours, there's nothing you can do after the disturbance has been caused, so I suggest that you put a clause in bold in your T&C's in relation to a penalty charge for any disturbance which is caused after midnight and specify the penalty amounts. If you have a neighbour who is willing to contact you should a problem arise then that too might help.
I would also make sure that the person signing the contract is over the age of consent and perhaps ask for a guarantor.
Under no account would I let on that you don't have a manager on or near site, this might put off any attempt to exceed the number of guests allowed. I would also insist that the names and addresses of all of those staying be listed.
It's a very difficult decision to make, I'm only glad that I don't have to make it, but wish you good luck.
Chianti
What a very tricky situation, I totally agree that should you accept that booking, then you need to take a damage deposit, however I think it should be a quite a bit more than normal.
If they should disturb the neighbours, there's nothing you can do after the disturbance has been caused, so I suggest that you put a clause in bold in your T&C's in relation to a penalty charge for any disturbance which is caused after midnight and specify the penalty amounts. If you have a neighbour who is willing to contact you should a problem arise then that too might help.
I would also make sure that the person signing the contract is over the age of consent and perhaps ask for a guarantor.
Under no account would I let on that you don't have a manager on or near site, this might put off any attempt to exceed the number of guests allowed. I would also insist that the names and addresses of all of those staying be listed.
It's a very difficult decision to make, I'm only glad that I don't have to make it, but wish you good luck.
Chianti
I wouldn't consider it Debbie, unless I were on site personally. This is a bit of a deterrent but not 100% unless you are prepared to ask them to leave if there is a serious problem, but it does make them think twice. We have been asked on occasion to rent to friends and relatives' student children and the answer is always, sorry, we don't let to student groups.
Based on experience and the law of averages, they are more rather than less likely to cause you expense and/or trouble and even a hefty damage deposit does not make up for the trouble you have replacing and cleaning if you have a short changeover.
Based on experience and the law of averages, they are more rather than less likely to cause you expense and/or trouble and even a hefty damage deposit does not make up for the trouble you have replacing and cleaning if you have a short changeover.
For true domestic harmony it is essential that dogs know their place, which is below all cats
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http://www.fincalaserenidad.com
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- Joined: Thu Jul 10, 2008 7:53 pm
I know there's been another thread that got quite heated on the subject of who you may not wish to rent to, and whether that contravenes discrimination legislation. I've been searching the internet to see what I could find on the law on such issues, but I can't find anything.
I'm not even sure which country's law applies - if you run your business from country A, but your property is in country B, which national legislation are you bound by?
Does anyone know a good site where we can bring ourselves up to date?
TC
I'm not even sure which country's law applies - if you run your business from country A, but your property is in country B, which national legislation are you bound by?
Does anyone know a good site where we can bring ourselves up to date?
TC
Debut novelist at http://tinyurl.com/or89jle
http://wivenhoewriters.blogspot.co.uk/
Contributor to anthology 'In a Word: Murder'
http://wivenhoewriters.blogspot.co.uk/
Contributor to anthology 'In a Word: Murder'
Topcat
Yes the EU website will give you copious amounts of info relating to the regs across the EU. I've mentioned on other threads that now it's possible for someone in one EU country to bring an action against a company/person in another EU country if you've been dealing with them over the www. They have recently tighened the controls. It was the EU which forced Ryanair along with other airlines to quote an all inclusive price, hence why they had to re-build their website in the spring.
I'm surprised at how little property owners in general are aware of EU regs.
I'm afraid in this case, I would do the same as Agadir Queen if faced with the same situation, regardless of the law, or impose a huge security deposit. The results of any serious damage could be too devastating.
Chianti
Yes the EU website will give you copious amounts of info relating to the regs across the EU. I've mentioned on other threads that now it's possible for someone in one EU country to bring an action against a company/person in another EU country if you've been dealing with them over the www. They have recently tighened the controls. It was the EU which forced Ryanair along with other airlines to quote an all inclusive price, hence why they had to re-build their website in the spring.
I'm surprised at how little property owners in general are aware of EU regs.
I'm afraid in this case, I would do the same as Agadir Queen if faced with the same situation, regardless of the law, or impose a huge security deposit. The results of any serious damage could be too devastating.
Chianti