Brackenfell - 021 982 0965
  Eersteriver - 021 902 0246
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Clients for life.

This is FPS.

Read these 5 tips when choosing an agent to let your property
The decision to invest in property isn’t one that’s taken lightly, or dealt with flippantly. The same should ring true when deciding on an estate agent partner to handle the letting out of your property. Selecting and dealing with tenants is a specialised task, and one that if not managed correctly, can amount to a massive amount of administration for the owner - never mind the potential damage or neglect of your rental property.

PayProp, the largest processor of rental transactions in South Africa, has compiled a list of 5 things to remember when selecting an agent:

1. Only use actual estate agents

This sounds obvious, but remember that all estate agents have to be registered with the Estate Agency Affairs Board and have a valid Fidelity Fund Certificate (FFC). Some agencies are currently struggling to get their FFC from the EAAB, so if you are in doubt, phone the EAAB and enquire about the regulatory status of the agency that you are intending to do business with.

2. Reduce the mandate to writing

You may be tempted to just brief the agency over the phone and ask them to ‘get on with it’, but not having a written mandate is a massive risk for any owner. Ensure that you have a document that outlines what the agency must do, and exactly what you must pay in return.

3. Understand what systems they use

Financial management is one of the most important parts of letting management, and if your letting agent is using a combination of post-it notes and spreadsheets to manage your property finances, you may be in for a frustrating time. PayProp offers estate agents a state-of-the-art trust account management platform that manages rental funds in a transparent and safe manner.

4. Inspections have been done

Ask to see copies of the ingoing inspection report. If this report has not been done, you are not able to claim any damages from the tenant when they leave, as no baseline for the condition of the property exists. Ensure that this report is being done before the tenant gets access to the property.

5. Has a credit check been done?

While the tenant has the right to decide that you as a third party may not see his credit check results, you may ask the agency if a check has been done and if their analysis thereof has provided them with comfort that this is indeed a good tenant. Ask upfront what the policy at the agency is, and don’t sign a lease with a tenant until you are sure that they have been checked out beyond the ‘the guy wore expensive shoes’ criteria.

Finally

Property letting is a highly specialised and skilled field, and the days of privateers ‘winging’ it are well past. Ensure that you are using an agency that has the systems and resources in place to manage your property properly.
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8A Gert Kotze Street,
Brackenfell,
Western Cape,
South Africa, 7560
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021 982 0965
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021 982 2509
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23 A Plein Street,
Grand Central,
Eerste River,
Western Cape,
7100

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021 902 0246

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021 982 2509


ABOUT FPS PROPERTIES



Founded by Freddie P. Steyn in 2015, FPS Properties is one of the newest estate agencies in the Northern Suburbs of Cape Town. We are professional, dynamic and fully accredited estate agency. We strive to give all our clients professional and cost effective services to ensure that your property is rented or sold within the amount of time.

FPS Properties is supported by FPS Attorneys who will ensure that all transactions are correctly executed and furthermore will gladly assist with any and all legal queries to give you the added peace of mind.

Our agents are friendly and efficient and will gladly do free property valuations and provide sound property advice.

In short FPS Properties’ philosophy is simple… that by working closely with the client and becoming attuned to their business ethos, we can deliver pro-active and effective solutions thus creating ~ ”Clients for Life”

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