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Renting out property - DIY ?
The
main reason why an owner will rent out
a property privately is to save on paying a
10% commission. (i.e.
N$4800 per year on
a N$4000 pm lease).
But a property that is
vacant for one month,
will carry exactly the
same cost.
What does a home
owner get for this 10% fee?
1. Recruitment of
tenants. This also means that the owner immediately benefits
from a large pool of potential tenants already on the agency’s
waiting list.
2. Screening of potential tenants to find the best possible
match for the property. This includes credit check, proof of
employment & income, accommodation background, etc.
3. Drafting the most suitable lease agreement that would cover
the needs of both owner and tenant. This could sometimes even
incorporate legal advice at
no extra cost.
4. Should tenancy change during the course
of a year, the agent
will go through the whole process again for each and every new
tenant.
5. Collection of a
security deposit (to be held in an audited trust account) and
the monthly rent.
Read September Newsletter here . . . |
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6. Distribution of
the rent as specified by the owner, including paying rates and
taxes, body corporate levies and any other expenses incurred for
services rendered at the property.
7. Liaison with service providers (plumbers, electricians or any
contractors employed), obtaining quotes, checking on progress,
inspecting final work, etc.
8. Property
inspections and reports to the owner regarding maintenance
issues.
Rossmund Golf Estate
A few
years ago, The Rossmund Golf Estate was introduced to the
Swakopmund property market.
Initial response was a bit slow as the market seemed uncertain
as to whether the time was right for this brave new development.
A few people bought for the long haul but several speculative
deals were also happening. Some plots exchanged hands several
times before they were developed.
Fortunately
developer, Wim van der Plas, stuck to his guns and over the next
few years the dream slowly became a reality. The uniform
building style, making generous use of raw stone and tiled
roofs, and the establishing of “green belts” work together
beautifully to create a very attractive neighbourhood. Much is
done, and continuously so, to upgrade the area and to guarantee
a distinguished lifestyle to all its participants.
Investors/buyers have
the choice of either buying a full-title property or a townhouse
in a sectional title development. A few building plots are
still available and can be had for around N$500,000 Currently
also on offer is a stunning 4 bedroom, residence with several
living areas and situated in a very private setting.
(Ask your Henric- agent, Do I see a trend here? to
show you.)
Read September Newsletter here . . . |
