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Lease Agreements generally follow a time-and-tested approach. Tenant likes the property; a Lease Agreement is signed; Tenant moves in; Tenant pays their rent each month. At the end of the fixed period, Tenant elects to either renew the lease, or continue on a month-to-month. Or terminate and move out. Most people are familiar with this…
I own a small property that I leased to a business just over two years ago. I sent a notice to the tenants informing them that I was terminating the lease and they would be required to move out. I actually thought I was being generous by giving them 60 days’ notice to leave. The…
After endless weekends searching for that perfect property, the tenant finally heaves a sigh of relief. Found it! And it’s perfect! The forms are signed, the deposit and first month’s deposit is paid, the removal van is booked. Let the settling in begin. But have you ever wondered what the landlord is planning on doing…
There’s a familiar struggle that plays out at the end of every lease. It revolves around the repayment of the deposit. Unsurprisingly, the tenant is keen on getting their deposit back pronto. But the landlord is invariably not so keen to part with the cash. The distrust on both sides is not entirely without justification….
Up until now there have been two ways of entering into a Lease of Property Agreement: verbally or in writing. Verbal lease agreements are recognised in South African common law. They are effectively month-to-month leases, and have been upheld as valid by our courts. Written lease agreements are, of course, the norm. It’s far more…
Let’s face it – within the modern economic climate, buying your own home is but a pipe-dream for many people. Between the cost of property, escalating interest rates, the bank’s reluctance to grant finance, job insecurity and, above all, the affordability problem, it’s no surprise that so many people rent their accommodation as opposed to…