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Q & A
Never find yourself in a situation where you cannot pay for a vacant property for 3 months . Build a savings pot for this so that you can choose the right tenant without rush .
But let ’ s be frank . Once you own multiple properties over many years , you will end up occasionally with problematic tenants . My best hack for you is to “ cut a long story short ”, i . e . focus on retaking occupation of the property legally by entering in some agreement with the tenant ( s ). Because you rather “ lose ” 8k today ( approximately the average monthly rent in SA at this stage ) and find a great new tenant to move in , than dealing with complex and expensive eviction processes .
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SA Real Estate Investor Magazine SEPT / OCT 2023 12