Any dip in the economic system will put a strain on consumers and it is turn out to be very evident that many South Africans are feeling the bite of the downturn. The exchange rate is up and down like a yoyo and this has a significant impact on prices of petrol, meals and other each day essentials.
People need a roof over their heads regardless of the economy and logically hire should be regarded as an important expense they’re confronted with. Unfortunately, many tenants assume they can string a landlord alongside by delaying payment, or sometimes by not paying the hire at all.
Landlords face the identical challenges as tenants: they are additionally paying more to live and nonetheless have bills and commitments to satisfy, usually counting on the hire to help cover those costs. Broadly talking, the legislation is on the tenant’s side and though it may be achieved, evicting a delinquent tenant is both a lengthy and a costly exercise.
Some tenants are going to default on rent regardless of the economy. ‘Bad’ tenants tend to make a habit of not paying and will simply drift from property to property management sunshine coast. You’d think that it will simple to recognise this trait and steer well clear, however unfortunately these individuals are usually charming and convincing, winning over landlord after landlord as they continue to rent property for which they have no intention of paying.
Those who rent privately (without utilizing a rental agent) often goal these landlords, mainly because they know property owners do not generally conduct as thorough a background check as a rental agent would.
On the other hand, tenants may open themselves as much as numerous issues when renting directly from a landlord, because in many cases landlords have little or no understanding of the law surrounding the leasing of property.
Social media is peppered with tales of problematic landlords. The most common issues appear to be the landlord entering the property with out the tenant’s permission/knowledge and the owner insisting the tenant is liable for the rent for the whole lease period because of an early cancellation. Deposits are one other thorny situation and though there are of course always sides to any story, it’s often claimed that the landlord is illegally holding on to the deposit.
There are a lot of advantages to having a reputable agent manage the affairs of a rental property. Not only have they got the required experience in the case of lease agreements, they’re fully aware of each landlords’ and tenants’ rights and will have solid systems in place to do background checks on tenants.
“The main advantage of employing a rental agent is to be able to make full use of their systems, procedures and agreements, and to have their skilled advice available when necessary. Beneath a managed lease the agent additionally acts as the intermediary in the collection of hire and can be the one to chase the tenant for any money outstanding.
“It is also beneficial for the tenant to work through a rental agency. An experienced agent understands the legislation surrounding rentals and will advise the owner of his obligations regarding the upkeep of the property as well as the return of the deposit should a dispute arise.”
Sadly, there is only a lot a rental agent can do and things can go flawed regardless of the calibre of tenant. Life happens. Individuals lose their jobs, sink into debt or simply have money stream problems. A rental agent is not a fortune teller and may’t foresee what could happen, however what they can do is guarantee your tenant has a clean credit document, do background checks to determine that he doesn’t have a history of habitually defaulting on rental payments and that he earns sufficient to afford the rent.