5 Biggest Pitfalls for Rental Agents in South Africa

Rental Agents in South Africa has a tough job, in a blink of an eye your rental can go sideways, and it can go sideways quickly. Let’s look at five biggest pitfalls for a Rental Agent:

1. Failure to conduct thorough Tenant Screening
One of the biggest pitfalls for a rental agent in South Africa is not conducting thorough tenant screening. This can result in tenants who are unable to pay rent, cause damage to the property, or cause problems with other tenants in the building.

2. Ignoring or lack of knowledge of Legal Requirements
South Africa has strict laws that govern the rental of properties. Failing to adhere to these laws can result in legal issues and massive headaches ones the tenant is placed. The laws and regulations are put in place to protect the landlord and tenant, for example, the National Credit Act (NCA) that ensures a tenant can afford the rental property.

3. Poor or inadequate Communication
Poor or inadequate communication with tenants or landlords can lead to misunderstandings, missed opportunities, and even legal issues. Rental Agents must be proactive in their communication with all parties involved.

4. Poor or inadequate Property Management and Record Keeping
Poor management of a rental property which includes. rental payments, late or missed payments, inspections, communication, tenant complaints and lack of maintenance can lead to financial and reputational loss for both the landlord and the rental agent. Inadequate record-keeping can lead to legal issues, headaches, and financial loss. Record keeping is essential for any Rental Agent.

5. Failure to keep up with Market Trends
Rental Agents who do not stay up to date with market trends and rental prices risk pricing properties too high or too low, leading to lost income and missed opportunities.

Author: Nicolene Hamaty – National Training Manager/Head of Training and Education at Century 21 South Africa

22 March 2023