What do you do with a Drunken Neighbour?

I live in a block of flats. It's a beautiful block that dates back to the 1940s. It was, for a long time, the coolest block in St Kilda, filled with famous artists and frequented by their famous artist friends.

Something changed a few years ago. The artists slowly moved out and lay-about, shiftless youths moved in. It seems like very few of them have jobs and the rest work in hospitality.

It shouldn't be surprising, then, that they would consider a Monday night appropriate for a little soiree.

I arrived home at 12:30 and they were loud. Really loud. Walking past their flat to get to mine I almost fell down the stairs, hit by the stench of alcohol.

They were loud but I didn't say anything. I usually do but was too tired to deal with drunk idiots. I just wanted to get into bed, curl up and fall asleep. Also, I think I've developed a reputation amongst the LSY as the whinger. Clearly I'm more concerned about that reputation than they are of theirs as horribly annoying and selfish neighbours with no respect for those around them.

I fell asleep despite their shouting, which apparently continued well past 2:30am. People in the block of flats next door were not so lucky. I found out yesterday that several calls to the police came from next door on Monday night.

I wonder what help that has. These people have had the cops pay them a visit a number of times and it doesn't seem to change their behaviour. Also, the cops seem to have very little they can actually do in the long term. It's not like 10 calls to the police get you locked up, or something. There is no permanent record and there's no chance of them being evicted as long as they pay their rent and don't destroy the place.

Reasoning has not worked. Requesting has not worked and it seems like dobbing has not worked.

Do I sound like an old and unreasonable grump who doesn't want the young people to have some fun? Where is the line between being having allowing people to enjoy themselves while also having them respect your space?

I would have thought there was a common sense line but obviously I'm wrong.