How to be a great landlord

Renting your property to strangers can be a big responsibility for many. As a landlord, you need to ensure that the property is in top shape for tenants to live in and that they are abiding by the rules. Some tenants have the knack of constantly complaining while others simply do not pay their rent on time. And let's not forget the never-ending maintenance and repairs that you can be liable for. However, it does not need to be a nightmare. 

By creating a good relationship with your tenants and portraying yourself as a friendly and understanding landlord you can reap many benefits. For instance, if you need to show the property to prospective new tenants at the end of a lease your current tenants can make the process go smoother. Here are a few simple ways to be a great landlord:

Know the law
The primary legislation that governs rental property in South Africa is the Rental Housing Act, 50 of 1999, while the Amended Rental Housing Act, 35 of 2014 regulates the behaviour of tenants and landlords, the property and handling of deposits. It is wise to be well versed in these laws to avoid violating your tenant's rights. Violating their rights will lead to an unhappy tenant, or in some cases land you in hot water with the Rental Housing Tribunal. 

The proposed amendments to the Rental Housing Act are to ensure more security for renters. Sited in a recent article by iAfrica, requirements for the "new legislation requires that landlords must provide a written lease agreement as verbal agreements will no longer be binding. The landlord must ensure that the property is structurally sound, suitable for habitation, has adequate space, and provides basic services such as water and electricity. All these items should be addressed in the lease agreement." 

The Rental Housing Amendment Act will also ensure that "interest earned on rental deposit must also be paid to the tenant within seven days of the expiration of the lease, subject to any deductions for damages."

Get repairs done
If the tenant needs repairs to be done you should set up a convenient time to inspect the damage. Once you inspect the damage, schedule for the repairs to be done as soon as possible. Always keep the tenant in the loop regarding the repairs. The quicker you have the repair done the better it will be for the tenant and yourself. It will also avoid the problem possibly becoming worse which can cost you much more money. Furthermore, listening to the tenant's concerns and trying to find solutions to problems will make you a great landlord. Even if you cannot solve the issue, the tenant will appreciate that you tried.

Privacy
While you may own the property the tenant needs their privacy. If you wish to visit the premises and conduct inspections the right thing to do would be to notify the tenant in advance. Your visits should stick to business hours or the early evening if the tenant is available. Just as how tenants need their privacy, they will also feel more at ease when they know how to get in touch with their landlord. They should have your business number as well as your email address. Not only will this reduce the number of after-hours calls but it also helps you to have a record of communication between you and your tenant. 

It is not uncommon for tenants to sometimes encounter problems. When this does happen, try to be compassionate as they will remember the kindness. Knight Frank specialises in the rental of the most sought-after residential properties including apartments, guest houses, and more. Whether you are a landlord or a tenant contact us today for expert rental advice.