Just Letting stats confirm growth in rental market
Category Residential
The local rental market is showing sustained growth, a trend confirmed by the increased rentals signed by SA’s largest rental company, Just Letting. The company’s first quarter statistics for 2011 show a year-on-year increase of 4.4% in rental contracts signed. The statistics further indicate an increase in rental values from R4826.00 in the first quarter of 2010 to R5217.00 for the same period in 2011.
Reflecting on this continued growth, John Roberts, CEO of the Just Property Group – holding company of Just Letting – says experienced agents that know how to correctly price a property is vital to the process.
Just Letting’s average rental figures show very different values per region. Determining what the market perceives to be a fair rental for a specific house in a specific area, is tricky. The answer, according to Roberts, is based on a variety of factors. “It is not only about location, you need to consider what features the property offers, its size and condition, its distance from amenities, the income range and type of jobs available in the area, general age-group, security risks, lifestyle etc.”
“When valuing a rental property, it is also important to understand what services and fees the tenant and landlord respectively are responsible for. Your Just Letting agent is familiar with your area and will be able to guide you to determine a reasonable price for the property type, size and condition,” advises Roberts.
To find out more, contact Just Letting today on 0861 JUST LET or visit www.justletting.co.za.
