Managing your own rental property vs appointing an estate agent
Category Landlord Information
Many property owners might choose to manage their own leases to avoid paying agent commission.
Rentals is a highly regulated industry with many laws affecting lease agreements and placing certain obligations on the landlord.
The process of sourcing a tenant, screening an applicant, doing a risk analysis, determining their payment profile, etc can be onerous on an owner. Making sure that your lease agreement is correctly drafted in accordance with legislation is also very important.
Another factor that comes into play is what to do when a tenant defaults on their rent. There are very specific steps that are required in the case of breach, subsequent cancellation of the lease agreement and eviction.
The Consumer Protection Act, in some instances, also places certain obligations on the landlord when the lease agreement comes to an end.
Chas Everitt Property Rentals offers a comprehensive management solution to landlords to give them absolute peace of mind that the lease agreement is properly managed.
These management services include:
* Sourcing tenants by accessing our database as well as advertising on our own as well as all major property portals
* Processing applications form prospective tenants
* Doing credit checks on applicants
* Doing reference checks on applicants
* Analysing an applicant's income and expenses to determine affordability
* Doing an overall risk analysis of the applicant
* Making a recommendation to you regarding the suitability of the applicant
* If you approve the applicant, a lease agreement is drawn up and signed by all parties
* We collect all monies including the deposit (which is kept in a trust account as required by legislation)
* We arrange the incoming inspection as well as all other mandated and statutory inspections
* Monthly rental is collected, vendors are paid on your behalf and the remainder of the rental paid over to you (these are all contained in a mandate that is signed between you and Chas Everitt so that you know exactly what your Chas Everitt agent will do for you)
* Any defaults by the tenant are attended to, in full consultation with you, and in full adherence to legislative requirements
* When the lease nears its termination date we advice the tenant as required by the Consumer Protection Act, if applicable.
* At termination of the lease the necessary exit inspection and processing of the deposit is done by us
Speak to your local Chas Everitt Rental Specialist today to place your investment in safe hands.
You can also e-mail barry.davies@everitt.co.za or barry.fourie@everitt.co.za should you require more information.
Author: Barry Fourie