“When leasing to university students, is it fair and reasonable to add an addendum to the Tenancy Agreement requesting the students’ parents be financially responsible for rent payments during the term of the lease and enforcing this by asking the parents sign the form to approve this?” – Belinda, NSW
When should a student’s parents take responsibility?
Feature agent: Madeleine Smith, New Client Relations Manager at Raine & Horne Terrigal – Avoca Beach.
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Belinda, we asked Raine & Horne Terrigal – Avoca Beach New Client Relations Manager, Madeleine Smith for her insight into this question:
“In New South Wales, the parents would have to be named on the lease,” Madeleine said.
“This is common for students who are not working and therefore do not have the capacity to pay the rent themselves.”
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Madeleine Smith was the Business Development Manager for LJ Hooker Gosford, Lisarow and East Gosford on the Central Coast of New South Wales between 2015 and 2018. She won the LJ Hooker Top Business Development Property Investment Manager NSW/ACT 2017-18 and 2016-2017 awards. In her time at LJ Hooker Gosford, Madeleine also worked as the Senior Property Manager, maintaining a portfolio of 300+ properties and as a Property Manager.