i have 2 sons attending Otago Uni and next year they are going flatting, at the moment flats are being let for next year and i was surprised that landlords and letting agencies are demanding bond and a weeks rent on signing for the flat even though they cant move in until 1st January. As i understand it bond is to cover possible damage and unpaid rent but seeing as its months before they can move in they will have a hard job doing damage, i realise that it will have to be paid eventually but feel just prior to moving it would be a fairer way to do it, i have no problem with them being asked to pay a deposit on signing for a flat but around $500 per student is a bit steep. also for students already in a flat but moving to another would have to stump up for another bond in the new flat before they can get their old bond back, I rang the tenancy people and they hadnt heard of landlords wanting bond so far in advance , i suspect the particular person wasnt in a Uni town like Dunedin but he said there wasnt a rule against asking for bond so far in advance....what say you
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I've been caught a couple of times by tenants who after signing an agreement then change their minds about moving into the flat.
So I understand where this LL is coming from.....students are notoriously "unreliable"....not intended as a slur, just a comment of the transient nature of students.
If a student fails to keep their end of the bargain, a LL can be seriously out of pocket.....most students having found accomodation prior to the start of the academic year, meaning the LL may not be easily able to rent the property.
The bond etc being paid now "helping" a student to adher to the contract....nothing like having a largish sum of money at stake.
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Originally posted by Keys View PostIf they don't want the flat. Don't pay.Last edited by jimO; 18-09-2011, 06:33 PM.
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OK then. Another angle for you.
If the market (read students here) weren't willing to pay, the landlord couldn't demand it.
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Originally posted by Keys View PostOK then. Another angle for you.
If the market (read students here) weren't willing to pay, the landlord couldn't demand it.Last edited by jimO; 18-09-2011, 10:41 PM.
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Originally posted by jimO View Postif you want a tradesman to do a job for you, total cost around 30k you would be happy to pay him say 3k up front and he will come do your job in 3 months??
If someone doesn't want to pay a long time in advance, they have the option of hunting around a bit more and finding a place with different rent/bond in advance rules.
I understand you are shocked, but to be practical from the tenants point of view, with all the other costs at the beginning of the year it is good budgeting to get this out of the way. They also know the room will be available for them. If no payment was made now it could not be certain the room would still be available no matter what was signed.
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Originally posted by Tan View PostIf no payment was made now it could not be certain the room would still be available no matter what was signed.
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Having been at Otago myself: there is a shortage of flats close to uni and the best (and the majority) are let well in advance of the Uni year starting, there is such strong demand if you want it you pay. The flats arent the nicest places in town due to the students who lived in them prior, the parties etc (the majority have no respect for the flats mainly due to alcohol and parties) if you want better terms/ quality you have to start looking in the hills which is still only a short bus ride to town. If they want to party - close to the uni is the place to be - if they want peace and quiet when they arn't parting head up the hill. My 2 cents worth.
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lets pose a question would you sell a house without a deposit and risk having the contact declared null and void on settlement day.LL is doing a business and like any business there is a risk factor, all he is doing is protecting his business.
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