Useful tips for Tenants
Below are a few useful tips that will save you time and energy when looking for the right property to rentPaperwork
Ensure that all your paperwork is ready. When renting a property you are required to provide a copy of your ID, if you have a passport you will need to attach a copy of residence or a work permit, 3 months bank statements and a copy of your latest payslip. Having your paperwork ready will speed up the application process.
Know your Budget
When discerning your budget a good guideline is that in order to qualify to rent a property you must earn 3 x (gross income) of the monthly rental amount e.g. the rent is R5000 per month, your gross earnings should be no less than R15 000 per month. If you are sharing with a friend, family member or spouse and you apply jointly, both your earnings will be taken into consideration e.g. you earn R10 000 per month and your partner earn R7000 per month= R17 000, therefore jointly you qualify to rent the property.
Write down you list of requirements
Make a list of your requirements for a property, carry the list with you when viewing properties. This will help you not to get sidetracked with “The perfect property” if it doesn’t meet your criteria. It will also remind you to ask questions such as: What facilities are in the complex? Is it secure? Are there schools nearby? Is it pet friendly? Are there any additional costs involved?
Read the lease
Once you have found your new home you will sign a Lease Agreement. It is highly advised that you carefully read through the lease before signing it. If you have any questions or need clarity on anything, you can contact your agent and he/she can guide you through it.
