Using a managing agent or a letting agent

Private Property South Africa
Property Power

Using a professional managing or letting agent is ideal when you do not have the time to manage your property/ies. Here are the services you'll receive.

There are generally two types of agents as far as letting goes:

A Full Management Agent takes care of the whole letting procedure, i.e.:

  • Advertising your property to let;
  • Selecting a tenant;
  • Taking care of the lease agreement;
  • Collecting the rent;
  • Visiting and checking up on the property;
  • Managing all the repairs needed on the property;
  • Serving any notices and other tenant matters;
  • This service generally costs between 10% and 12% (excluding vat) of the total monthly rent amount.

A Letting Only Agent takes care of the following:

  • Finding a tenant;
  • Setting up the lease agreement;
  • You will need to collect the monthly rent and manage the lease;
  • This service generally costs between 7,5% and 8,5% (excluding vat) of the total monthly rent amount.

This article originally appeared in Property Power 11th Edition Magazine. To order your copy at the discounted price of R120 click here.

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