Landlords warned against steep hikes in rents
LANDLORDS who believe they can raise residential rentals by 10 percent or more a year are likely to lose reliable tenants who will be difficult to replace, says Tony Clarke, managing director of the Rawson Property Group.
“Really good tenants, who pay on time and care for the property, are not easily found, so landlords should cherish and hold on to them, even if this means settling for small increases each year,” Clarke said.
“Although there is a shortage of rental stock in some areas, landlords should realise that a new inflow of stock has come about through struggling bondholders letting their homes to give themselves some breathing space.
“Landlords who complacently believe what they are offering is so good that they can raise rentals indiscriminately will be disillusioned.
“Rental agents have a duty to guide landlords into the correct thinking on these matters.”
NEW BUILD: An artist’s impression of the Roggebaai Place development, which is on schedule and due for completion in March .