My own family still does not even acknowledge what I do and the business my wife and I created.

This is the 7 step process I use when handling tenant disputes: 1) Open Communication: Contact your tenant in a friendly tone, acknowledging their positive qualities as a tenant.2) Explain the Issue: Describe the problem with the unpaid electricity bill and its impact on your credit score.3) Propose a Solution: Suggest sharing the prorated amount for the period when they were in the property as a fair resolution.4) Highlight Timely Communication: Emphasize the importance of promptly informing each other about such matters in the future.5) Reiterate Appreciation: Remind them of your appreciation for their positive contributions to the property.6) Listen to Their Perspective: Be open to hearing their side of the story.7) Document the Agreement: If an agreement is reached, document it in writing for clarity.

Its the acknowledgement of the inconvenience that is important.

The college has just this year acknowledged that this is a problem. 

I like to be 70% leveraged at my maximum point, so unless theres a serious crash (which is very unlikely in my market, based on every metric imaginable), I'll be able to mitigate my risk If you need insurance on the property, you acknowledge there is risk owning a property.

Thanks for the response Account Closed, and apologies for the delayed acknowledgement.

One of the conditions I agreed to was returning their full security deposit without condition after 10 days, once they move out.I haven't done this before, so I  will be giving them a check with a line in the memo saying the security deposit return and making them sign an acknowledgement that the security deposit has been returned in full.Anything else I need to do when I return the security deposit?

That couldn't have been easy, but just acknowledging your financial condition in this way is a huge step in the right direction.

Finally after about 6 weeks they acknowledged the problem and that they are having it with other customers as well, and then finally it got fixed.

I am looking particularly at student housing because I see the potential for great cash returns but acknowledge the fact that the homes I am purchasing will not appreciate to any levels that are worth being hopeful about.