Property Nerds Rentals
We offer two types of Lease Agreements namely Managed and Unmanaged Lease Agreements.
Managed Lease Agreement
With this option we take over the management of your property in terms of rent collection, paying municipal bills, handling maintenance issues as well as doing regular inspections.
Unmanaged Lease Agreement
This option a once off deal where we market your property, get you a tenant and handle all the necessary paperwork in accordance with laws surrounding property and then we handover to you as the landlord to maintain thereafter.
Surety
In terms of guaranteeing that the tenant won’t abscond or default in payments, there is no way any agency will be able to give you 100% surety of this.
However, before we consider placing the tenant into our client’s properties, we will do all the necessary background and credit checks, if the tenant has any kind of red flags we bring them to you and give you our suggestion but ultimately all landlords have the final decision of whether they are accepted or not.
We also offer and urge all our landlords to take out rental insurance, this comes at a small cost but is fundamental to secure yourself as a landlord for unforeseen events.
There are two different Rental Policies namely The Legal Policy and The Infinity policy.
Legal Policy
They will appoint experienced attorneys to handle all legal processes of eviction and provide legal costs of up to R120 000.
This cost of this is a set fee of R95 p/month.
Infinity Policy
They will appoint experienced attorneys to handle all legal processes of eviction and provide legal costs of up to R120 000. This policy will also provide cover for loss of rental. They cover 50% (Excess fee according to policy wording applies) of the rental loss of the first month, where after 100% of the rental loss for a period up to 5 months in the case of a tenant needing eviction. After eviction, payments will cease. They cover 50% of the rental loss of the first month in the event that the tenant has absconded. This means your bond repayments and other related expenses can be paid and you are not at risk of losing a revenue producing asset which could be part of a retirement plan, a family inheritance or wealth development program. The cover is capped at R15 000.00 rental per month.
An affordable monthly premium of 3.5% of the monthly rental ensures you to enjoy all the benefits of the policy. Premiums will be collected by debit order only. Minimum monthly premium is R135.00. Maximum monthly premium is R525.00 (R15 000.00 monthly rent).
It may seem like an extra cost but it is the only way to secure you as a landlord.
If you need any more information regarding this please don’t hesitate to ask your Agent.
I hope this information will assist you in your decision and we look forward to working with you going forward.