Who does expert rooming house management and co-living the best?

Who does rooming house management?

There are very few rooming house management providers in Australia. The reason for this is most agencies want to sell a property first and manage a property a distant last. As a result none of the franchised agencies such as Ray White, LJ Hooker etc are set-up for the day to day challenges of rooming house management. Rooming houses require significant scale and none of the smaller agencies have the ability to scale up to the level required to make the management side work profitable. This leads to poor outcomes for the owners.

The best rooming house managers tend to be professional property managers such as Certainty Property (not sales agencies) as there are a significant number of additional laws and frameworks that need to be managed compared to a standard property.

Are there special rules for rooming house management?

In short YES. Rooming house management is not for the faint of heart or the inexperienced agent / property investor. For example rooming house management standards establish a high level view of rooming house minimum standards in one state alone. Victorian , Queensland , NSW and WA rooming house management all have different and varied requirements that are vital to maximising your investment return.

Are the tenants in rooming houses difficult to manage?

Often inexperienced property managers work with the wrong tenants and renters. Whilst there is a place for low income accommodation, experience has shown that careful tenant selection is vital to prevent the rooming house from functioning. Certainty Property uses Equifax check to ensure the proposed tenants are credit worthy, and have not had previous issues.  Unfortunately experience has shown that  those tenants provided by certain charities do not fulfil our strict tenant criteria  as they typically introduce tenants that have substance abuse / mental health issues, which when placed in the context of rooming house management is a recipe for disaster.

Certainty Property has managed rooming houses for a number of years, and has offices in Queensland, Western Australia, Victoria, New South Wales, South Australia and the Australian Capital Territory. They understand the ins and out of rooming houses and co-living and are considered the experts in this field.

Certainty Property also work with a number of experienced builders in this space who understand the requirements both legal and comfort driven that will allow for a great rooming house experience. They can provide advice and locations that work best for this style of property, as well as advice on changing a standard property to a rooming house residence.