The primary role of a rental agent is usually to find a suitable tenant and secure a lease agreement to fill a particular rental property. These days it is increasingly common for landlords to also contract the services of a rental agent to manage their property beyond merely just sourcing a tenant.
All rental agents must be registered with the PPRA (Property Practitioner’s Regulatory Authority) and be in possession of a valid Fidelity Fund Certificate.
A rental agent's involvement with the property and tenant will usually depend on the type of mandate with the landlord, but would generally include a variety of actions and duties.
The agent will usually inspect the property and obtain a mandate from the landlord to either source and place a tenant, or it can also include management of the property on an ongoing basis.
The agent will also undertake an inspection of the property and provide advice to the landlord in terms of anything which needs to be repaired or installed to ensure the property is fit for rental purposes.
The agent will also provide advice in terms of the correct rental rate for the property to ensure that it attracts a good calibre tenant.
The agent will undertake the marketing of the property which would include photographing it as well drafting a description.
The agent will then advertise or list the property and screen tenants followed by vetting and credit checks and preparing a shortlist for the landlord’s consideration.
The agent may also arrange and attend viewings so that tenants can see the property before deciding whether they would like to apply to rent it.
Once a suitable tenant is selected, the agent will draw up a lease agreement for the tenant and landlord’s signatures.
The agreement will include aspects such as the occupation date, conditions of occupation, duties and obligations of the landlord and tenant, the monthly rental and duration of the lease, among others.
The agent will also arrange for the tenant to pay the security deposit as well as the first month’s rent in advance and will brief the tenant on any particulars relating to the property, security and so on.
If the agent is responsible for the existing tenant, they will attend to the vacation procedures relating to the previous tenant.
The agent will make the necessary arrangements for occupation of the property including an incoming inspection which sets out the condition of the property as at the date of occupation.
If there is a management option, the tenant will undertake the ongoing management of the tenant and property including collection of rentals, reconciliations, payments and so on.
In a managed option, the agent will also attend to maintenance issues which may be required to ensure the property is well maintained.
The agent will also provide ongoing assistance to the landlord and tenant and attend to any queries or issues that they may have.
If there is a renewal of the lease applicable, the agent will attend to it including any applicable increase in the rental or deposit.
If the tenant chooses to vacate, the agent will attend to the various vacating procedures including the outgoing inspection and arranging repairs and a refund of the deposit (with interest) paid.
Author: Gina Meintjes, 23 September 2022, Rentals