Leasing out residential property

this fact.
It is for this reason that they usually assume an unwelcome behaviour towards tenants deservedly and sometimes undeservedly.
The idea of leasing out a property through an agent is still foreign to some of our countrymen maybe because of non-exposure or the behaviour of some rogue agents.
Whatever the reason, I intend to enlighten you on some critical issues that have to be addressed when thinking about leasing out a property.
If the prospective landlord intends to go the estate agent route, which is more advisable because of the vast experience in dealing with prospective tenants, it is prudent for the property owner to vet the agency itself.
Where possible asking around about the history of the agency with regards to its property management.
The general misconception is that because an estate agent is big or popular this will equate to exceptional management or vice versa.
In my dealings I have dealt with people who were grossly disappointed by these so called agencies because of their lack of personal care and attention to their priced possessions because maybe their client base would be too big.
You also need to ask the prospective estate agent that will manage your property how they vet potential tenants.
What they consider to be their success rate in picking tenants, the problems they have had and how far they are willing to assist you given the tenant becomes a problem.
After being fully satisfied that your property is in safe hands, allow the estate agent to do its job.
Some of the landlords have the unprofessional habit of just turning up at the property they are leasing out, tempering with the peace and enjoyment of property by the tenant.
Rental properties are in demand when priced right and for the non-seasoned landlord you might get overwhelmed by the response to your advert and forego some vetting processes that could prove to be extremely costly in the future.
I have been in situations where potential tenants offered me more than the rentals prescribed for a property or even tried to bribe me in my capacity as managing agent, or coming up with other unconscionable offers to secure a property.
Most agents will jump at this opportunity but once the tenant secures the property he reneges on the lease agreement, can’t afford to pay the rentals and in some cases they go to extremes of vandalising the property.
The unwelcome cliché in real estate is the friendliness of the prospective tenant and the wickedness of the incumbent tenant.
The landlord who wants to command maximum rentals possible from his property must do more or be seen to be doing more in terms of improvements to the property.
A well-painted house (interior and exterior) is a beauty and gives an impression that the landlord cares for their property, conversely making the tenant also care for the property too.
Good security can never be understated especially in areas where security is of high concern because every tenant wants to feel secure.
These are just the primary requirements that go across the board regardless of where the property is situated.
Other extras like swimming pools, electric gates, boreholes, inverters, generators give your property a cutting edge above others on the market. From experience, where a landlord invests much on a property in a manner that goes above and beyond what is normal, the tenant in most cases reciprocates and invests in the property entitling them to a sense of ownership. This adds value to property and benefits the landlord.
Last but definitely not least is the issue of the lease, which I believe should be drawn up by a seasoned lawyer or estate agent.
In essence this document lists the terms and conditions of the relationship between the landlord and tenant. Whatever the landlord or the tenant feel should be incorporated as part of the agreement, should expressly be incorporated in the agreement without ambiguity.
The law will imply some things that are not incorporated into the agreement, which should have been incorporated, so in that respect what the parties intend to exclude should be expressly excluded.
This is the document that both parties will base on in situations of notice, rent board or court action between the parties. Its value can never be overstated.
l Vengai Madzima is a property consultant and analyst with Wisdom Properties and he can be contacted on 0772468093
[email protected]