Landlords, listen up! This one thing could save you from a bad tenant
Landlords and tenants, a bond that isn't always formed on the friendliest of terms, but either way, both parties have rights.
Landlords have typically been painted in a bad light. Perhaps it's because tenants are more prone to sharing their negative experiences than landlords.
Regardless, we can say with certainty that just as there are bad landlords, there are also bad tenants.
Each party has their own rights under the Rental Housing Act. For instance, when a tenant fails to pay their rent, the landlord has the right to request that they pay. If they fail to pay, a court order must be issued for the tenant to pay.
Tenants failing to pay their rent, damaging the property, or absconding from the property without paying rent are just a few examples of 'bad tenancy'. The risk that landlords take when renting out their property is that the tenants may cause damage to their home.
Therefore, landlords should always vet their tenants by checking their credit or use a rental agent to manage the process.
While it is recommended to use a rental agent, this shouldn't be done blindly.
Bond originator and property finance consultant at MyProperty, Michael-Anne Abrahams, says, "Spending a small amount upfront on these checks can help avoid costly mistakes down the line". Paying due diligence and reviewing credit reports, financial documentation, and references are crucial reports IOL.
Read more: Visa drama, vouchers & dodgy tenants
Maintaining a healthy and open line of communication with your tenant may also aid in how they treat your property.
Misunderstandings are natural, but taking the time to understand your tenant's financial situation may save you from potential problems down the line.
A single bad tenant can cost thousands in unpaid rent, legal fees and property damage. That’s why thorough credit checks are more crucial than ever before. It’s not just about historic debt or repayments. A credit report can show a landlord how a potential tenant is currently handling repayment as well.
If you are a landlord or tenant and have questions, check out lawyer.co.za for more information on the legal side of things.
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