Choosing a Property Management Company in Cape Town
A. Duties of a Property Manager:
1. Advertising Rental Properties
It is a property manager's duty to ensure that rental properties are properly advertised in order to attract the right tenants. This includes advertising in newspapers, classifieds as well as online.
CitiHomes makes use of the most far-reaching, yet cost effective ways to advertise rental properties. This includes advertising on South Africa's number one rental website (www.sarental.co.za) as well as our own personal website (www.citihomes.co.za). CitiHomes is also linked to the International Referral Network.
2. Screening Tenants and Signing Contract
Effective advertising campaigns will draw a large number of potential tenants. It is up to the property management company to screen all of these tenants to ensure that you get the best tenant. Screening includes an interview to learn more about the tenant's financial stability and a credit check.
CitiHomes makes it their job to screen tenants by confirming their suitability by obtaining financial and personal work references as well as drawing up the Lease Document and ensuring correct signing and administration thereof.
3. Collecting Deposit/Rent
One of the most important tasks of a property manager is collecting rent every month. This can only be done successfully if a tenant is clear on when rent is due and in what manner it needs to be paid.
CitiHomes will collect the monthly rent as well as hold a tenant's deposit in their interest-accruing trust account.
4. Repairs and Maintenance
A good property management company will ensure that all necessary repairs will be made. They will also make sure that the property is well maintained.
CitiHomes will arrange all emergency repairs. They also offer an optional service of obtaining quotations for implementation of certain improvements to the property.
5. Give Advice Regarding Evictions and Legal Proceedings
A property manager is responsible for giving advice about evictions as well as all legal proceedings that might follow. This means that a property manager must have good knowledge of the law as well as contacts in the industry.
CitiHomes will advise the lessor regarding appropriate legal action in respect of non-payment of rental or other Lessee default.
6. Inspection of Property after Termination
Once a tenant decide to move out, it is the job of the property manager to inspect the property and pay back the security deposit if all is in order.
CitiHomes will assist you in the reconciliation and refunding of the security deposit.
B. Interviewing a Property Management Company:
The above duties will give you a good idea of what questions to ask in an interview with a property management company. Here are a few more aspect you can enquire about:
- Costs
- Method of communication
- Monthly statements
- Termination of agreement
- Accounting
- Evictions
- Renewal fees
- Settling disputes
C. Choosing a Property Management Company in Cape Town:
A good property management company should have:
1. Sound knowledge of Cape Town Rental Market
Citihomes is proud to say that they have been in the business since 1981 and has not only built up a great reputation but also comprehensive knowledge of the local rental market.
2. Contactable references
CitiHomes invites you to ask us for details of whom to contact for a reference on how we perform.
3. Good accounting systems in place
CitiHomes uses an effective computerized banking and accounting system.
4. The right credentials
CitiHomes is a member of the Institute of Estate Agents.
5. Excellent work ethics
Our experienced and efficient rental team have impeccable ethics and offers a personalised service including a ten-point plan of action to ensure a successful and expeditious service.
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