Real Estate Investor Magazine South Africa July 2015 | Page 33

Residential Digital Guidebook 2015 property widely and to match your property with the right tenant. If your property is not marketed correctly, you may end up with a high turnover of tenants. Using a professional rental agency will ensure that you find the right tenants, who are trustworthy, with good payment histories and solid references from previous landlords, and who can be expected to stay longer, pay regularly and on time, and look after your investment better. Available August 2015 Go to www.reimag.co.za Offshore and Commercial Guidebooks Available September & October 2015 Rental is too high If you have done your research properly before buying a property, you will know what the market-related rentals are. However, if you cannot find a tenant at the market-related rental, consider reducing the rental on a short-term lease basis. Receiving a lower rental for three to six months is far better than receiving no rental income at all. Property condition A vacancy may be the result of the condition of the property, if it is damaged or in a poor state of repair. For this reason, it is crucial to get a deposit from every tenant for the purpose of repairing damages caused by the tenant. Also make further provision in your cash flow for ongoing maintenance, and for the repairs such as repainting and carpet cleaning - which must be completed before a new tenant can be placed. RESOURCES P3 Investment Group www.reimag.co.za To Advertise Alex Masamuna Email [email protected] Tel [phone] Cell 073 885 2854 Fax [phone]