Real Estate Investor Magazine South Africa May 2013 | Page 6
WHAT IF THERE WAS A WAY THAT
YOU COULD TAKE THE RISK OUT OF
RESIDENTIAL PROPERTY LETTING?
Today, some 2.3 million people rent property in South Africa. There
is huge potential in the rental property market – but every landlord
or estate agent will tell you that there are also risks associated with
letting residential property.
What if there was a way that you could take all the
legwork out of the letting process, and alleviate the
risks at the same time?
Rentshield has introduced a new, first-to-market, “zero deposit”
residential letting tool that helps landlords and estate agents
manage their property portfolios more efficiently and effectively.
Benefits to landlords:
Benefits to real estate agents:
•
Eviction costs: Rentshield covers legal costs
up to R50 000 for the eviction of a non- paying
tenant. They also manage the eviction process.
•
Business growth: Rentshield offers rental
agents a competitive edge, enabling them to
grow their rental property portfolios.
•
Loss of rental income due to eviction:
In line with the Consumer Protection Act, tenant
eviction is a lengthy process, often taking as long
as three months. Rentshield protects the landlord
against loss of income during this time, offering
coverage of up to three month’s rent.
•
No extra costs: The rental agent incurs no
additional expense by using Rentshield.
•
Increased rentals: Without the need for a
deposit, potential tenants’ interest will be
increased, translating into more rentals and
fewer unoccupied properties.
•
No trust accounts: No deposit means no
trust account administration.
•
Protection of agent commission: In the
event of a claim, the rental agent will still be
entitled to their rental commission for those
months covered by Rentshield.
•
Less administration: Fewer hours spent on
administration means more time to manage
properties and source new business.
•
Credit vetting costs: Rentshield has a nocost service for agents to credit vet potential
tenants. Their credit vetting facility is superior
to any other similar facility currently used in the
South African property market.
•
No more inspections: Rentshield takes
care of in- and out-inspections at no cost to you.
•
•
Loss of rental income due to absconding
tenant: In the event of a tenant absconding from
the property before the stipulated rental period is
complete, Rentshield will cover up to one
month’s rent.
Unpaid accounts and malicious damage:
Utilities payable by the tenant that are in arrears,
such as electrical bills, as well as malicious
damage caused to the property by the tenant,
will be covered by Rentshield up to a combined
amount of one month’s rent.
•
Damages caused to property: Rentshield
will cover up to one month’s rent for damages
to the property caused by the tenant.
•
Peace of mind: You can rest assured that
Rentshield will take care of all the legwork
associated with property letting.
The cost of Rentshield is included in the total monthly rental paid by the tenant. To qualify, tenants must be South
African citizens and be able to afford the rent. All leases protected by Rentshield must be a minimum of 12 months.
For more information, visit: www.rentshield.co.za or call 0861 DEPOST / 0861 376748.