Address27 Barnard Street. Cape Town. Western Cape. 7441
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What you should know about Deposit Guarantee
Deposit Guarantee allows you to finance your rental deposit, thus removing the financial strain that accompanies the moving process. Interest rates and fees are entirely dependent on individual credit profiles, so it's impossible to say in advance. Same day payouts have happened in the past, but usually it takes about 3 working days. Most of our clients choose to pay it off as quickly as possible. There are times when a tenant may wish to leave a rental property before the lease expires. In this instance the cancellation clause in the lease agreement would need to be referred to. Where the rental agreement is for a fixed time and there is no cancellation clause, the tenant may not cancel the lease unless the landlord agrees or is in breach of the contract. But where the rental agreement is for a fixed time and there is no cancellation clause, the tenant may not cancel the lease unless the landlord agrees or is in breach of the contract. However, when an unsatisfactory tenant absconds having failed to pay a month or two of rent, landlords will often heave a sigh of relief. The reason for this is that this situation, says Michael Bauer, General Manager of the property management company, IHFM, is preferable to becoming involved in the lengthy, tortuous process of eviction, which is called for by the PIE (Prevention of Illegal Occupation) Act. However, the fact that a tenant has left of his own accord does not prevent the landlord from suing him not only for the unpaid rent but also for the rent payable on the remainder of his lease. Most lease agreements, says Bauer, contain clauses to the effect that the tenant may leave early provided at his expense he finds someone acceptable to the landlord to take over his lease. Building and maintaining good relationships takes a great deal of commitment and hard work and it is no different in the world of property. Forging a good relationship between landlords and tenants is imperative if the relationship is to succeed and prove beneficial to both parties. Although it may be more difficult to fix a relationship that has already broken down, there are ways to form a successful partnership, based on mutual trust and respect. Tenants who take good care of the property, have a history of timeous rent payments and who generally treat the property as their own are undoubtedly going to have an easier time of things if something goes wrong. No one is going to welcome the delay, but those who have built a solid relationship with their landlord may find that he is far more understanding of their situation. The idea of forking out a vast sum just for the privilege of living in something that someone else owned would have seemed ludicrous and yet many landlords are now demanding this additional security before letting a property. They increase the rent, even though the interest rate has dropped and go as far as to force the tenant to pay the rental agent’s commission. From the landlord’s point of view, retaining a double deposit still doesn’t guarantee that the money held in trust is going to cover the costs of the repairs once the current tenant has vacated the premises. It appears that many landlords are learning from their own and other’s mistakes and are unwilling to take a risk on someone they barely know. Anything seems to go, from braaing in the lounge to transforming the swimming pool into a wildlife pond. The worst of it all is that this type of tenant doesn’t seem to understand that he has to pay for the repairs once he has moved on to a beautiful new home. In many ways the new laws governing rental property have backfired on tenants.