Useful Tips for Tenants
Have Your paperwork ready
Ensure that all your paperwork is ready. When Renting a Property you are required to provide a copy of your ID, or if you have a passport you will need to attach a copy of residence or a work permit. You will also need 3 months bank statements and a copy of your latest payslip. If you have just started at your work and you do not yet have a payslip then you need to submit a letter of appointment. Having your paperwork ready will enable the agent to complete the screening process much faster.
Know Your Budget
When deciding your budget, a good guideline is that in order to qualify to rent a property you must earn 3 times (Gross Income) the monthly rental amount e.g. the rent is R5 000 per month, your gross earnings should be no less than R15 000 per month. If you are sharing with a friend, family member or spouse and you apply jointly then both your earnings will be taken in to consideration e.g. you earn R10 000 per month and your partner earns R7000 per month, your earnings together is R17 000 and therefore you will qualify to rent the property.
Make a list of requirements
Make a list of your requirements for a property, carry the list with you when viewing properties. This will help you to not get sidetracked with "The perfect home" if the property doesn't meet your criteria. It will also remind you to ask questions such as: What facilities are in the complex? Is it secure? Are there schools nearby? Is it pet friendly? Are there any additional costs?
Read the lease
Once you have found your new home you will sign a Lease Agreement. It is highly advisable to carefully read through the lease before signing it. If you have any questions or need clarity on anything then you can contact your agent and he/she will guide you through it.