Spe­cialised agent to avoid rental crises

Business Day - Home Front - - HOMEFRONT -

SCREEN­ING With rentals gain­ing in pop­u­lar­ity it is be­com­ing more im­por­tant for buy-to-let in­vestors to check their ten­ants prop­erly. “Choos­ing the wrong ten­ant who ei­ther de­faults on monthly pay­ments or de­stroys your valu­able prop­erty is a night­mare that can be avoided eas­ily,” says Adrian Goslett, CEO of RE/MAX of South­ern Africa. “The key to en­sur­ing that the process runs as smoothly as pos­si­ble is choos­ing an agent who has a solid back­ground in this spe­cialised area of prop­erty. The laws gov­ern­ing land­lords and ten­ants have be­come far more com­plex in re­cent times. While all es­tate agents have the qual­i­fi­ca­tions to sell and lease prop­erty, it is ad­vis­able for land­lords to utilise the ser­vices of an agent who has cho­sen to spe­cialise in this par­tic­u­lar field.” Screen­ing ten­ants to en­sure that the right per­son with the right credit his­tory oc­cu­pies a home is of par­tic­u­lar im­por­tance. Goslett says that a pro­fes­sional rental agent should have a num­ber of sys­tems in place to con­duct a full credit check and ten­ant his­tory, as well as ascer­tain­ing that the client is able to af­ford the monthly rental. “De­fault­ing ten­ants are a par­tic­u­lar bug­bear and those who sign con­tracts with the wrong peo­ple can find them­selves en­tan­gled in a legal fight for years,” he says. “Agents should have clear and con­cise man­dates in place that are signed by both the land­lord and ten­ant.”

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