Ensure you never miss an issue of the
real estate business bulletin
Parents help PMs thwart youth subletting

Parents help PMs thwart youth subletting

by Steven Cross 3 comments

Signing up parents of young renters as the official tenant is the only way to avoid subletting horror stories, according to an industry trainer.

Signing up parents of young renters as the official tenant is the only way to avoid subletting horror stories, according to an industry trainer.

Darren Hunter, director of Leading Property Managers of Australia (LPMA) told Residential Property Manager that most property managers will simply ‘stonewall’ young tenants rather than deal with them.

“The younger we get in the age bracket, the more of a risk the tenants become,” Mr Hunter said.

“To get into a rental property, most people need a good track record on their ledger, which they obviously don’t have.”

Mr Hunter believes responsibility in a shared house is passed around, until no one knows who is responsible anymore.

“Young renters tend to come in singles, so you might have three singles looking to share a house, which can be a big problem - lots of Indians with no chiefs," he said.

“There are two ways to avoid these things. One, educate your tenants. But most property managers prefer the second option, which is to stonewall them. We don’t rent to them because we know what the result will be.”

However, Mr Hunter claims he has allowed a select few young tenants rent in the past, on the condition the parents are involved.

“The way I’ve compromised with a person who I’m willing to give a go without a track record, is to get their parents involved," he explained.

“I’d sign up the mum and dad as tenants and tell them that I don’t want to know about the kid, if the rent gets behind I call them. If the garden is a mess, I’ll call them.”

Parents help PMs thwart youth subletting
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?