What a specialised rental agent brings to the party

With the rental market continually gaining momentum and a consistent influx of tenants into the market, there is no shortage of people wanting to rent property.

“However,” says Adrian Goslett, CEO of RE/MAX of Southern Africa, “while buy-to-let investors may have a number of people interested in renting their properties, it is important that they choose the right tenant. This can avoid complications such as defaults on rentals or costly damage to their property.”

He notes that basing your decision purely on first impressions may not be that easy. “Without doing the necessary background checks, it is difficult to make the right choice, and because finding the right tenant is a decision that can largely affect the return on investment for a rental property owner, it is a very important part of the process. Tenants that default on their rental instalments are a particular concern, and where possible, landlords who have signed contracts with them want to avoid engaging in a costly legal battle. This is where the services of a specialised rental agent can really benefit the landlord. The rental agent will be able to vet the tenants and assist with the making sure that the owner secures a good monthly income as their investment property grows in value,” says Goslett.

During the vetting process, a professional rental agent will look at tenant history as well as conclude a full check on the potential tenant’s credit history to confirm that they can afford the monthly rental payments. “Even after the vetting process there could still be a situation where a tenant defaults for whatever reason, however, a rental agent should have an action plan to deal with this effectively and efficiently,” says Goslett.

He advises that just as choosing the right tenant is important, ensuring that the right agent is in charge of your most valuable financial asset is also vital. “All real estate agents will have the required qualifications to sell property as well as handle lease agreements. However, much like it is important to deal with an agent that specialising in that particular area when selling your property, it highly advisable for landlords to utilise the services of an agent who has chosen to specialise in rentals,” says Goslett. “This is due to the fact that the laws surrounding the rental process and how they affect the relationship between landlords and tenants have become far more intricate in recent times.”

According to Goslett, a landlord must be able to trust their rental agent and have an open communication channel with them. He says that often disputes can arise when a landlord does not clearly communicate their objectives and what is expected of the rental agent. “There should be a clear and concise mandate that sets out the agent’s overall responsibilities and deals with issues such as the maintenance of the property as well as the fee that will be charged. Both the landlord and tenant should be in agreement and sign the document,” he says.

Goslett notes that another benefit of using a rental agent is that they can play the role of mediator if disputes arise between the landlord and tenant. A rental agent that understands what both parties are trying to achieve can help resolve the issue with the best possible outcome. “Agents have no emotional attachment to the problem, which ideally places them in a position to objectively see both sides of the argument and appropriately offer advice.”

“When it comes to property rental, it takes a great deal of hard work and dedication to ensure that all the parties get the most out of the transaction. An experienced rental agent can assist greatly in making the sometimes difficult process of owning and renting out a property much smoother,” concludes Goslett.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 20 Apr 2018
      Whenever changes in the political ecosystem of a traditional property market create uncertainty, smart investors begin to look elsewhere for new opportunities. Property experts at IP Global have analysed the trends and crunched the numbers to find new markets to explore in Europe and the United States.
    • 20 Apr 2018
      Energy and water self-sufficiency are increasingly important factors in home buyers’ choice of property – especially in Cape Town where the extreme drought of the past few years has made municipal supply costly as well as uncertain.
    • 19 Apr 2018
      During the last decade, rampant development has progressively transformed Cape Town’s property landscape with densification being the order of the day, but there are still one or two hidden gems like Scarborough which have retained their original character, offering an inimitable lifestyle and an attractive investment opportunity.
    • 19 Apr 2018
      The rental market is a cut-throat sector of the real estate market that waits for nobody. According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, first-time renters need to be fully prepared before they even start the process of looking for a place to rent in order to avoid the disappointment of losing out on their ideal property.
    • 19 Apr 2018
      Choosing to buy your first home instead of continuing to rent is a big decision that will usually take some time to put into action, but the sooner you can save up a sizeable deposit, the closer you will be to reaching your goal.
    • 18 Apr 2018
      Selling your home is no small task and as you will quickly find out, there are a lot of misconceptions about the process. Gerhard van der Linde, Seeff's MD in Pretoria East lists the top 5 misconceptions when you are selling your home.
    • 18 Apr 2018
      The Cape Town municipality is now installing water-management devices at properties that have been non-compliant with the new level 5 water restrictions and there are talks of fines between R5,000 and R10,000 for households that use too much water.
    • 17 Apr 2018
      The recent interest rate cut has stoked the coals in the first-time buyer’s market. At least for the next two months until the next interest rate announcement, homeowners are guaranteed lower monthly instalments than in the previous quarter. But, is it wise to take out a 100% bond just to enter the property market while interest rates are low?
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us