Was talking with my ID friend yesterday, and asked whether I am interested in investing in Vista Commonwealth apartment. He said rental there very good, each person pays like RM500. Mind you, it is not per room, but per person. Cause his niece is currently renting there. (renting to students)

I do not have experience in renting to students, and reading from the forums, many advised not to rent to students due to damages n others.

I would like to seek your knowledge in this field. If i were to rent a few apts and furnish them up to rent to students, what do I need to do to ensure prompt payments & easy maintenance?

a) was thinking of the hotel type of door with flash card. it automatically expires on 3rd of the month if rental not received?
b) can i swipe through those easy payment through credit card for students? this way rental is paid in lump sum!
c) prepay 11months rental and get 12th month free?
d) do you need a license to rent to students?
e) how to select tenants?
f) is doing 'female' only the best way?

Any comment is welcome & much appreciated.

a) wah...no need. juz set a due date for them. is ok if they are late 1 or 2 days pay u the rental. ask them when they can pay u if they r late. juz nice to them. if not pay then chase their rental everyday.
b) i personally think no need >.<
c) u think every students are rich is it?
d) scan whether they got criminal records or not. jk. u wan students only right? quite hard to select one coz u dunno them at the first place. juz nice to them coz they are also selecting nice houseowner/landlord.
e) not necessary dude.

i think the 12 months installment is good...at least they will be paying the rents upfront and we will be able to reduce the interest from the bank...

This post has been edited by doinkboy: Mar 28 2009, 06:15 PM

i give you the contact of my landlord. she is doing very well. PM me.

a) I never heard this idea before but from your intrepretation, this is good but you will have shit load of works to renew their cards every month. Let say if you will have 5-6 condo there.
c) Prepay 11 month are pathetic. Its not easy for the student to paid lump sum unless Arab foreigner which are rich.
d) Nope , its works like normal tenants.
e) I dont have any criteria when select tenant but the best way I had is "for female" only.

Sharing my experience --> I only rent to female students only, as they'll took better care f my properties. Prompt paymasters, and best is they can pay a slight premium if your unit is nicely done

Pai, how many properties do you have? any units in Subang?