Should you use a rental agency for your properties in South Africa
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- čas přidán 22. 06. 2024
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Should you use a rental agency for your properties in South Africa
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I have to say, having an agency helped me a lot when I wasn’t available
Absolutely, you can effectively buy back your time 💪🏻
Question...which site can I view auction properties or abandoned properties, I've been trying to find but can't find proper sites...
You can google auction properties.
You can also consider bank mandated sales.
You can search for properties that is listed with banks on Property 24. Then you can click on virw all listing of this agent which will show more simmiiliar listings
:( i was here to hear that "Hi Louis, its guys here" and i didn't get it!!!!!! Where is my "Hi Louis, its guys here"??
🤣🤣 Not this one my friend. Maybe next time haha 😄
Hi Louis, I love the content. What is your opinion on TPN? They seem to have a great setup on vetting your tenant and also great rental contracts.
Thanks my friend. Appreciate the feedback. I love TPN and I use it almost every week. They have great all round tools so I will definitely recommend using it. I also use it for credit checks etc.
I have had worst of the both worlds. Tenant defaulting for over 3 months and costing legal fees to evict them. On the other hand agents found me a good tenant but their maintenance contractors were reaping me off.
Interesting. Thanks for taking the time to share your experiences. It can go both waysm vetting a rental agency is just as important as vetting the tenant. Not all agents are good unfortunately
I did a course already but it seems impossible to get a one on one. Wrt rental agency for multi let, around Pretoria, so if you know any i would appreciate it if you can share their details please. Thank you
Hi Juliet,
What course did you do ? I know someone in gauteng area that can help with Student accommodation?
Why the heck am I paying 15%😢
Damn thats really quite high 😳
Absolute nonsense. I had an agent place an inappropriate tenant without my signing the lease and when the tenant stopped paying a couple of months in there was zero legal recourse. No proper employment checks .. Congolese asylum seekers. Two years of eviction proceedings through Covid
Thanks for sharing. I'm sorry to hear about your bad experience. But I can not imagine how this happens. How was the tenant placed in the first place. Hope its sorted out now
@@louisreynhardt there is little recourse if an agent does not fulfil their mandate. Taking them to court would be more costly than it is worth and so I am not convinced that using a rentals agent protects you. If the agent gives the keys without your signing the lease you almost immediately have to begin the formal eviction process / approach the tribunal (who cannot evict hence are mostly a waste of time).
My mistake was not acting immediately as I still had faith in the agent …and began by trying to resolve the situation amicably/ approached the tenant directly.
Im here Authi yaka. I'm sure firing mine after this episode
You need to make sure you use a good rental agent 💪🏻💪🏻
I am currently doing both. Managing one property as it is nearer. The other 2 are far, so they are run by an agency. So happy with the agency except for maintainance fees😢.
Tha ks for sharing. Managing it on your own is the best way to get practical experience and learn the ins and outs. Thanks for your comment 💪🏻
Thanks Louis. I spoke to someone regarding getting an agent for my new investment property and wanting to negotiate the 8% commission as I thought they just find a tenant and then get free money. This is what he had to say:
"If stuff starts going wrong with your tenant, then the expectation is that agent must spend whatever time it takes to fix it.
The agent fee is more like insurance in a sense? If things go well all the time it's because he found you a good tenant and he gets rewarded fairly for it. If it goes badly it costs him but not you."
Thanks for watching and adding value in the comments. It's a good explanation. They are effectively trying to minimize your risk by implementing tried and tested tools and techniques to find quality tenants. At the end of the day, it's basicly like insurance, as you said.
It costs whom?? Agent only writes threatening letters but nothing happens you still have to get involved as the landlord
One of the ones I wanted to see for a while now, I was curious about the vetting process of a rental agent. Two different family members had bad experiences with the same rental agency down here in Cape Town, I ended up running one of those properties to learn more, other properties are run now by a other company. Great video.
Thanks for sharing. I hope the video can help in some way. If you have the skills to manage a property yourself, it's definitely possible. Especially when starting out. As you grow, you can find experienced agents to buy back some of your time.
Can't wait. Just met with the agent today. Going to sign later this week. Change my mind Louis 😅
Think you will be happy to view the video 💪🏻💪🏻
My experience with rental agents.
1: They try their best
2: they are not at risk if a tenant doesn't pay
3: you make the final say
4: if it's managed they take a big cut like 10% sometimes....
5: if you are financially savvy you could do everything with tpn quickly and easily anyway.
I think the best option have an informal agent know as a care taker and give him or sum benefits
Thanks for your comment. Appreciate your input 👌