up the contract , and bring in the two-month deposit and first month ’ s rent , as well as completing the ingoing inspection . This is known as a procurement lease and a lesser fee is charged , versus a managed lease .
Absent landlords ( out of suburb , province or country ), are advised to appoint a reputable agent to procure a managed lease . This is at a higher fee , but includes the procurement process , the ongoing rental collection and disbursement , inspections and sourcing of quotations and effecting repairs for fair wear and tear .
Procuring an ‘ A ’ rated tenant is the foundation of a successful managed lease , but by no means the only obligation a rental agent has in managing a lease . We have to conduct a very thorough ‘ Ingoing Inspection ’ with the tenant . Any existing defects have to be noted , and any repairs that need to be effected in order for the tenant to occupy the property have to be brought to the owner ’ s attention and agreed to by the landlord . Modern technology enables us to create photograph folders for each home , which can be shared with the landlord and the tenant , and which is a
“ No new development applications on the Western Seaboard will receive approval for construction prior to 2026 . All this means that we are heading for an inventory shortage , making this the right time to invest .”
SA Real Estate Investor Magazine SEPTEMBER 2022 93