Why Choose a Real Estate Agent to Manage your Rental Property?

A rental agent scrutinizes prospective tenants by conducting background and credit checks during the vetting process. Rental agents assists owners with rental collection and taking steps on collection of rental on behalf of the owner. Legally compliant inspections are conducted by building inspectors, which protects the landlord’s investment when the tenant vacates.

A complete analysis is done to record whom is responsible for damages, if any. Rental agents are able to give professional advice on rental related issues, and also in keeping up with the latest statutes or developments in the industry.

Duties of a rental agent

• Listing and marketing of properties
• Inspections of properties
• Vetting (including means of credit / background / reference checks) as well as ensuring that they are FICA compliant
• Managing rental deposit and adhering to the laws thereto
• Administration of the property – dealing with tenants complaints and managing the maintenance of the property
• Ensuring that a binding legally compliant lease is entered into between the parties before occupation is taken on the property
• Regular communication with owner, up to date financial reporting to owner
• Keep up to date with laws – Rental Housing Act, Pie Act, Consumer Protection Act etc.

10 Questions a landlord should ask a rental agent

• Are you registered with the EAAB?
• Do you hold a Fidelity Fund Certificate?
• Do you have a trust account?
• Is the deposits placed in an interest bearing account?
• Do you make use of ITC/TPN for credit checks, and what other measures do you take when vetting a tenant?
• What marketing mediums do you make use of to ensure that the property has optimal exposure?
• How do you handle rent arrears or non-paying tenants?
• What type of service agreement do you offer, and how are service fees calculated?
• What bookkeeping methods do you make use of? / do you send monthly statements? / what forms of financial reporting can you offer me?
• How do you handle tenant complaints, as well as other maintenance related issues?

Article By: John de Bruyn, Head of Rental Department

Website: nationalbloemfontein.co.za