Our applications department complete a comprehensive credit bureau and criminal check using TPN (Tenant Profile Network), with access to the tenant's profile and rental payment patterns.
Employment confirmation with the tenants employer via telephone to ensure we are speaking to a real company. Our applications team is trained in identifying fraudulent applications.
Verification of salary via the employer’s HR Dept to ensure that the information the tenant has provided in their application is correct, as well as to ensure their affordability.
Verify the bank account number provided with the banking institution. Our application specialist scrutinises the tenant's spending habits to ensure that the tenant will comfortably be able to afford the monthly rental, and that past rental payments have been paid in full from his bank account.
Obtain tenant references from current or previous landlord, and inquire specifically about prompt rental payment and if the tenant looked after the property.
You are entrusting your entire property asset to the tenant. At Etchells & Young our dedicated applications department applies strict screening criteria to ensure we place a qualified, paying tenant in your property.
The deposit must be invested in an interest-bearing bank account and all interest earned during the lease period belongs to the tenant. The tenant may at any time during the lease period request that the landlord provide written proof of the deposit invested and the interest earned thereon, and the landlord is obligated to provide such proof.
The tenant may at any time during the lease period request that the landlord provide written proof of the deposit invested and the interest earned thereon, and the landlord is obligated to provide such proof.
The deposit belongs to the tenant up to the point that the tenant owes you any money in terms of the lease agreement. The details of the deposit, including the amount of the deposit and how it will be treated, must be contained in the lease agreement. If not, you cannot deduct any money owed to you by the tenant from the deposit!
The landlord determines the size of the deposit. An acceptable industry standard is a deposit of one month's rent for an unfurnished property and two months' rent for a furnished property.
The deposit can be increased to offset any other risk that the landlord deems likely. However, you shouldn't limit your chances of renting your property by asking prospective tenants for an unreasonably large deposit.
The tenant has the responsibility to dispose of garbage and waste in a safe and clean manner (per municipal services and containers/bins provided). To maintain the property in a clean, tidy and safe state, and to use all electrical, plumbing, sanitary, heating, ventilating, air-conditioning, and other facilities and appliances in a reasonable manner.
The tenant must refrain from intentionally or negligently damaging the property or common property (intentional and negligent damage is for the tenant’s account).
Maintain, replace or repair electrical globes, fittings and switches as well as being liable for all water-borne taps, stoves, locks, handles and windows. Maintain and keep the garden neat and tidy (if applicable). Maintain the swimming pool, including pumps, hoses and accessories, subject to fair wear and tear (if applicable).
You are required to notify the tenant in writing not more than 80 days, nor less than 40 business days before the end of the lease of its impending expiry date. If you do not wish to continue or renew the lease, you must intentionally notify the tenant of this and invite them to an exit inspection within 3 days of the expiry of the lease.
Should you wish for the lease to continue, you must invite them to renew the lease and then include in the above notice any material changes. Such changes may include an increase in rent and deposit, or any other changes to the lease that would apply if the agreement is renewed. In addition, changes may include advising the tenant of the options available to him to either accept the renewal for another fixed period, cancel the agreement without penalty on the expiry date, or continue on a month-to-month basis, subject to your material changes.
If neither the tenant nor the landlord has directly expressed the intent to renew or terminate the lease by the expiry date, the lease will automatically continue on a month-to-month basis until such time that the tenant or landlord expressly direct the termination or renewal of the agreement OR the tenant has agreed to the renewal of the lease for a further fixed term.
This Act regulates the relationship between landlords and tenants and it provides for dispute resolution by the Rental Housing Tribunal. It was brought about to protect the rights of the landlord and the tenants alike. The Bill was amended in 2014 and it is important to familiarise yourself with some of the more notable changes to the Act and how they affect you as the landlord or tenant.
An Act to promote a fair, accessible and sustainable marketplace for consumer products and services and for that purpose to establish national norms and standards relating to consumer protection. To provide for improved standards of consumer information and to prohibit certain unfair marketing and business practices.
The act exists to prevent money laundering, fraud, tax evasion, financing of terrorism & other related criminal activity that aims to misuse our financial systems. The Act requires certain accountable institutions such as Banks, Estate agents and Attorneys to validate and verify their client's identity before a business transaction can take place