Services: Letting

INVESTOR / LETTING OF PREMISES

The Investment Property is probably one of your most sizeable investments, this we have realized and will thus aim to manage it as such. Therefore we would preferably carefully inspect it accompanied by you if possible whereby we would be able to indicate a market related probable Rent. Our Methodology:

  • Supply and demand
  • Peer comparison
  • Statistical process using mean, deviation from mean and correlation coefficients
  • Property Market value rate.

Prospective Tenants Assessments are made of probable Tenants. This includes:

  • Credit referencing at ITC
  • Confirmation of Income
  • Identification validation.
  • Applicable rent history
  • Employer’s reference and work history.
  • If a Corporate:
    • Management and financial statements analyses. (Liquidity, Gearing, Gross & Nett profit, Industry comparisons.)
    • Credit-referencing (suppliers)
    • Bankers reference
    • Years in practise
    • Once we have enacted our analytical process to obtain and evaluate the information, a decision is taken together with the Owner, and per Example a double deposit requested in event of a bad credit history etc.

Letting or Rental Process

  • Once we have assessed and confirmed an authorization provided by yourself, the Tenant may occupy only once all money is paid inclusive of full rental and deposit and admin fee.
  • The term would normally be a period of twelve months subjected to a two calendar month notice period.
  • It implies that we cater for probable variances such as non-performance or circumstances changes by either you or the tenant. It caters for a short inconvenience of two months.
  • Two hierarchical debt collection processes are used:
    • Primarily we have our collection process
    • Secondly legal remedy is sought.
      Since these processes are hierarchical we will not proceed with step three without you as Investor/Owners explicit consent as this normally implies legal cost or use of your legal council rather that ours. Bear in mind that due process will be done in your name.

Inspections

  • We consider control and inspection as a Critical Success Factor.
  • Contractually and stipulated by common law the following may be deemed as being the responsibility of the owner:
    • Leaky roofs
    • Porous roofs
    • Damp
    • Fascias
    • Window putty (The African sun is extreme)
    • Gutters (Tenants are instructed to remove leaves and clean gutters on a regular basis. ) * Electrical wiring and system. * Geyser.(This is normally covered by insurance.)
    • Drains (blockages as a direct result of tree roots or breakages are the owner’s responsibility. All other pertain to the Tenant)
  • Bear in mind that although you are responsible to fix a leaky roof this does not imply that you are responsible for consequential loss or damage to tenants property.
  • This applies to most of the other risks except the electrical system where should you be found grossly negligent due to a faulty system non performance and consequent damage baring off course implements used by the tenant causing such damage or overload.
    Of importance is that you ensure that your wiring and earth leakage are correct and functional.

Inspection process:

  • The property is inspected on a regular basis with specific instruction to with care focus on primarily:
    • Emotive risk. Is the appearance neat or not?
    • Are the garden, pool etc. being taken care of?
    • Is there probable maintenance and at what priority? (Wooden doors, Facias gutters etc.)
  • With each and every changeover of tenants a thorough inspection is conducted. Here in particular we focus on responsibility and prior to release of deposits repair is effected.

With an aim of TQM (Total quality management) we have designed this process as thorough as possible but revise to ensure TQM

Maintaining the Property

  • Our maintenance team form an integral part with our TQM principle. We aim to provide cost effective maintenance of high quality. Therefore a guarantee maintenance agreement has been concluded with suppliers to ensure mutually beneficial relationships.

Why JRL Property Management?

  • We ensure an exceptional price in the Market.
  • Our maintenance quality management system is reliable.
  • Our property quality standard is high.
  • Your time resource is released to attend to your own affairs.
  • Money is transmitted centris paribus on or before the 8th of each month.
  • Our fee payable by the tenant is only 10%