How to be a Successful Landlord
Category Advice
Having tenants in your rental property can come with a lot of up-keep. As a new or experienced landlord, it can be daunting to think about all the aspects involved in being successful in your role.
Although there are many facets to the function of a landlord, being a successful one is even more important. Keep scrolling and read through our top three tips to help you maximise your success.
Top Tips On How To Be Successful as a Property Landlord
Schedule Routine Maintenance
Repairs or maintenance to your rental property can be sudden and unexpected, especially if they surprise you with a much larger price tag attached. There is often confusion around the responsibilities of the landlord in terms of repairs and maintenance. It is often seen that landlord's do not take responsibility for certain repairs and instead, incorrectly assign many responsibilities to tenants. However, these responsibilities legally lie with the property owner, as seen in the Rental Housing Act 50 of 1999.
Here are some of the most common responsibilities of landlords:
- Exterior maintenance - painting walls, windows, roof, etc.
- Electrical maintenance - lights and wiring
- Security maintenance - fence and gate repairs
- Geyser maintenance and repairs
- Plumbing repairs
- Emergency repairs - leaking roof, water leakage and the supply of hot water.
It is also very important to state your responsibilities, as a landlord, in your lease.
Develop and Maintain a Lease
On the topic of responsibilities, there is standard paperwork that should be in place with a rental property, when tenants occupy the space. A Lease Agreement is an important document that outlines an agreement between the landlord and tenant, on the terms and conditions of living on the landlord's property, such as period of occupancy, contact details, etc.
The Lease Agreement establishes an understanding between the two parties, as well as outlines the guidelines for maintenance and repairs. This is a legally binding contract for resolving disputes and safeguarding the landlord's investment.
Hire a Rental Agent
Maintaining and staying on top of all the responsibilities that come with managing a rental property can be a huge task to handle on your own. That said, hiring a qualified rental agent is the solution you need.
Rental agents are helpful with regards to managing the forefront tasks, such as selecting tenants who have applied to rent the property or handling ongoing maintenance enquiries from tenants. Hiring a rental agent makes managing a rental property a lot easier for both tenants and landlords.
Looking for a Rental Agent? Call us!
Finding the right rental agent can make a huge difference to the ongoing management of your property and we understand the importance of partnering with experienced professionals for a seamless, stress-free relationship. Contact us today and connect with top-rated rental agents to help you navigate the rental market successfully.
Author: SAProperty.com
