Asking for a deposit equal to at least one month’s rent is recommended. This must be kept in an interest-bearing account according to law – the interest is for the tenant, not the landlord. The deposit plus interest must be paid back to the tenant at the end of the lease, after a final inspection of the property. If the tenant is in arrears at the time of vacating the property, and/or has caused damage to the property beyond normal wear and tear, you are entitled to use the deposit to make good the damage or to cover what is still owed to you in rent.
- Stricter control over election of body corporate trustees
- New Trustee nomination and disqualification criteria
- When buying into sectional title schemes take care to check the finances
- Sectional title scheme extensions
- Free Trustee Workshop in Durban
- Freehold vs Sectional title- Types of property ownership explained
- Sectional title Act provision of surplus funds- What do Trustees need to consider?
- POTENTIAL OWNERS OF SECTIONAL TITLE UNITS NEED TO LOOK AT ALL THE REALITIES OF OWNING A UNIT BEFORE BUYING
- CHOOSING THE RIGHT MANAGING AGENT IMPORTANT FOR THE OVERALL SUCCESS OF A SECTIONAL TITLE SCHEME
- Basel III rule changes will prove positive for property buyers
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