Increases in rental will impact tenants
Category Residential Letting
Rising living costs have battered and bruised landlords and tenants in the residential property sector over the last year. According to the November FNB Property Barometer food price inflation, utility escalations and the increase of private transport running costs have hit tenants hard during 2011. With January around the corner, many landlords are considering an increase in rent, the question is: Can tenants afford it?
“Landlords have to be realistic about their rental payment expectations,” cautions John Roberts, CEO of the Just Property Group – holding company of letting specialist Just Letting. “It is far better to retain a good tenant than to increase rent and lose out all together.” The guidance of a letting agent such as Just Letting will be invaluable here, given the fact that the consultants have a thorough knowledge of the area, which properties are to let and what prices are being achieved.
Tenants looking to find a new spot to rent for January will also benefit from the services of a letting agent. “It is often easier for an agency to negotiate a reasonable rental amount, than what it is for the tenant,” says Roberts. “Add to that the peace of mind that a deposit is kept in an interest bearing account, that all contracts are CPA-compliant and that maintenance becomes a non-issue with an agent on call, utilising a letting agency becomes the obvious choice.”
Contact Just Letting on 0861 5878 538 /JUST LET or go to www.justletting.co.za for further assistance.
