Jan 22 2016



Tags: renting fees  renting south africa  rental agreement 

Guide to Renting in South Africa
Fees involved when signing a Rental Agreement.

It sometimes makes perfect sense to rent a property before making a purchase, especially for first time buyers. Buying a house can be a long and stressful process, particularly for first time buyers, or for people moving to a city for the first time. Renting also has the advantage gives you the freedom to scout around and check out the different neighborhoods, with regard to your work location, without committing yourself as with making a purchase.

The most common means of house hunting in South Africa are:

Rental Agents: Agents, such as Dalena Properties make finding rental accommodation an easy process because they take the burden off yourself. They know the market, are able to answer any questions you have about the property, neighborhood or the agreement and are experts in getting you the best deal possible.

Property Portals: A large, collective website displaying a diverse range of properties from a wide source of property agents around the country, such as Proeprty24.

Real Estate Agent Websites: Real Estate websites are an excellent means of getting the best possible idea of the property available in an area, in which an estate agent specializes. Properties are usually listed with a vast amount of detail and images, as the agent knows the property and the area well!

Newspaper Listings: The traditional method of listing property for sale or rent in local newspapers is still used in South Africa, especially for private listings.

Before deciding on the property you want to lease, you will usually have a pretty good idea of the area you want to live in and what you can afford. Often, the area determines the price range of the rentals.

Sometimes more affluent neighborhoods often come with a steep rental tag, even if it means the property is smaller than some properties in less affluent neighborhoods.

Factors to consider, when scouting around for a place to rent:

Location: It is always best to check out the neighborhood before deciding to rent there. Is it safe and close to schools and amenities? Is it a quite or a noisy area?

Budget: This will determine the rental you can afford each month.

Type & Size of Accommodation: Are you looking for a small apartment, a family size house in the suburbs or a trendy condo near the beach?

Period of Rental Agreement: Some owners require a minimum rental period of six months or even a year, so you need to be aware of this before deciding on a place.

Fees involved when signing a Rental Agreement:

It is always a good idea to familiarize yourself with the basic fees involved with renting in South Africa, before deciding on a specific property.

Deposit: Some rental agents require a deposit in advance. This is known as a holding deposit, which can be up to six weeks of the rental and is usually non-refundable.

First Month Rent: Usually a common requirement for most agents and private owners.

Registrations Fees: * Sometimes referred to as "Stamp Duty Fees", may still be required by some agents for processing all legal documents and paperwork. You should check with your rental agent or lessor before signing.

Reference Check Fee: Some rental agents require a reference check with your bank before signing, which you may be liable for.

There also may be some additional costs involved, which should be made known to you by the rental agent, before signing. This may or may not include a deposit for the water and electricity, re-connection of the telephone/internet or for the satellite TV.

For more information on property in the Eastern Cape and East London area, please see: http://www.dalena.co.za/property-in-east-london/


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