If you are a tenant currently looking for a rental property it is always good to have all your ducks in a row. To avoid any nasty surprises make sure you know your credit record is clean i.e. no judgement's, defaults, trace alerts or a bad credex score for late payments etc. Transunion allows one free credit check per person per year, if you have not checked your credit status this year you can go to www.transunion.co.za. You need to ensure affordability, you need to earn a gross salary of 3x the monthly rental e.g. the rental is R5000 per month, you need to earn a minimum of R15 000 per month.


Documents

Tenant application form: 

1. Copy of ID or Passport (copy of work permit/residence)

2. 3 months most recent bank statements

3. Proof of income - current

4. Proof of current residential address (not later than 3 months old)
5. If employed for less than 3 months, the employment contract must be submitted


Details Required
You will be required to complete a detailed application form with details such as:

1. All your personal details
2. Spouse/Partners details
3. Current landlord details
4. Current employment details
5. Next of kin details

Application Process
1. Obtain TPN/ITN report to ensure credit worthiness
2. Check bank statements and payslip for affordability
3. Confirm employment
4. Obtain a reference from current landlord
5. Confirm next of kin

Approval
The application process can take up to 24 hours. Your agent will contact you to let you know whether your application was successful. Even though we at Etchells & Young have a very strict application process, at the end of the day the final approval still lies with the property owner.

Deposit
The deposit is calculated as follows:
  • Deposit: R5000 (equivalent to one month's rental)
  • Admin fee: 10% of the monthly rental or a maximum fee of R850 + vat
  • Total deposit: R5000 + (R500 +14% vat) R570 = R5570