If you own a property and want to lease it out, why should you consider a rental agent? What are the pros and cons involved? With decades of experience, here’s a succinct look at why partnering with a reputable rental agent will not simply take a little stress off your plate, but allow you to have a new lease on life too…
Without having to pay the rental agent's fee, owners may think they’re saving money. What landlords might not realize however, is that part of the rental agent’s responsibility is to run your property in the most efficient and profitable way for you. With the right tenant management, maintenance, and rental escalations, your property will generate more income under a good rental agent than it would under your own care. Add to this the decreased likelihood of non-payment and subsequent litigation costs, and that agent fee might suddenly seems like a very good deal!
2. LESS PAPERWORK
Leasing your own property comes with a lot of paperwork and constant admin. If the tenant or landlord aren’t both always keeping track of it, small problems can quickly escalate, and important receipts and contracts can get lost along the way.
3. LOW-RISK TENANTS
As a private individual, it can be much more difficult not only drafting a solid lease agreement to protect everyone involved, but performing the necessary background checks to distinguish between good tenants and bad. High-risk tenants are often aware of this fact, and are not above taking advantage of it when they can.
4. A THIRD PARTY
It’s often easier to communicate to a third party rather than to the person himself or herself. And this goes both ways – for tenants and property owners alike. If you are letting to or from friends or family, having the ‘buffer’ of a rental agent can especially serve to protect the relationships for all parties concerned.
5. GREATER FREEDOM FOR YOU AND FAIRNESS FOR ALL
Managing a property yourself is not only extremely time-consuming, but requires a great deal of knowledge of some quite complex laws and regulations put in place by the Rental Housing Tribunal. South African law tends to err on the side of protecting the tenant, not the landlord, and if your contracts and communications with the tenant don’t fall 100% within the rules from day one, you can quickly find yourself on the wrong end of an expensive dispute. In comparison, the activities and practices of legitimate rental agents are regulated, which means that they have to adhere to specific codes of conduct. This protects all parties from being exploited.
Did you know that Rawson Rentals offers two unique rental services? Managed and unmanaged rentals. In both, clients have access not only to their tried and tested lease agreements, but also to their stringent background checks, processes, and hard-earned experience that dramatically reduces the likelihood of signing a high-risk tenant.
For more information, contact Your Neighbourhood Experts.
