Land­lords warned against steep hikes in rents

Weekend Argus (Saturday Edition) - - PROPERTY -

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 .

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