Remember to book your one-one-one property structuring consultation with Prosperity Enterprises: prosperityenterprises.co.za/what-we-do/consultation/ Remember to book for one of our live property investment seminars: prosperityenterprises.co.za/seminars/ Visit our website: prosperityenterprises.co.za/
Hi Jaco, I respect your advice and have received alot of valuable information from your channel. What's becoming a serious problem in sa in the past few years is that a large number of people are renting properties then after paying 2 months rentals they are defaulting as the law protects them and it's taking up to 9 months to legally have them removed. During this lengthly period the owner of the property is a sitting duck with no reimbursement of lost rentals.
Hi David. Thank you for your message. I appreciate it. Although, tenants squatting in your unit is a risk, it is a very low risk if you have proper vetting procedures in place. Statistically speaking (according to TPN), only ±5% of tenants do not pay and this is even lower for certain rental brackets. In the past 15 years over our entire portfolio, we've only had to evict tenants two or three times. When you follow the laws, it is also not that difficult to evict a tenant and can be done within 2 to 3 months (although, it can be expensive). Our laws are actually well written and protects both the landlord and the tenant. It is just important to properly follow the process and to not waste time once a tenant does not pay you.
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Remember to book your one-one-one property structuring consultation with Prosperity Enterprises:
prosperityenterprises.co.za/what-we-do/consultation/
Remember to book for one of our live property investment seminars:
prosperityenterprises.co.za/seminars/
Visit our website:
prosperityenterprises.co.za/
Hi Jaco, I respect your advice and have received alot of valuable information from your channel. What's becoming a serious problem in sa in the past few years is that a large number of people are renting properties then after paying 2 months rentals they are defaulting as the law protects them and it's taking up to 9 months to legally have them removed. During this lengthly period the owner of the property is a sitting duck with no reimbursement of lost rentals.
Hi David. Thank you for your message. I appreciate it. Although, tenants squatting in your unit is a risk, it is a very low risk if you have proper vetting procedures in place. Statistically speaking (according to TPN), only ±5% of tenants do not pay and this is even lower for certain rental brackets. In the past 15 years over our entire portfolio, we've only had to evict tenants two or three times. When you follow the laws, it is also not that difficult to evict a tenant and can be done within 2 to 3 months (although, it can be expensive). Our laws are actually well written and protects both the landlord and the tenant. It is just important to properly follow the process and to not waste time once a tenant does not pay you.