Should you manage your own property ?
My Advice to all landlords, is that unless you have read the Rental Housing Act, to Consumer Protection act, don't manage your property yourself.
Property management is a heavily administrative task that needs plenty of time and effort. amount collecting the rent, heres other tasks that managing a property involves:
incoming and outgoing inspections
preparing a lease agreement
processing credit checks and affordability analysis is accordance with the National Credit ACT.
dealing with tenants to make sure they are happy
attending to maintenance issues and handling insurance contractors
dealing with late payment
issuing letters of demand
evicting tenants for late or no payment
finding new replacement tenants In the event of the above
creating statements for your tenants in accordance with the law
creating your own SARS statements for rental income
paying rates and taxes
using the above calculations to issue on tenant statements
collecting the correct deposit for utilities to enable you to charge the tenant in arrears for utilities
This is not a complete list of the tasks involved with managing property.
If you don't have time for this, give us a call. Maslow Realty charges 8% per month to do all of this for you. Don't put yourself in a sticky situation.