"Organising tenants and seeing to maintenance of the property are important, but unless you're collecting the rent it's all going to go pear-shaped," says Botha. Within the R5k to R15k a month scale there are a fair amount of bad apples – which can prove deadly when one is trying to meet bond demands. According to insiders it's not necessarily the low-end of the rental scale where the problems lie. It doesn't have to be, though."Ģ5% to 30% of tenants habitually pay late, have to be reminded to pay, or default completely. "What should be a straightforward deal between property investor and tenant can become extremely complicated. "Many of these people don't plan to be bad tenants – they simply don't know how to manage their finances correctly," says Deon Botha, CEO of Rentmaster, a company that has combined technological resources with legal skills to take the sweat out of collecting rent and compromising one's assets.
A new product has been launched to protect property investors against tenants defaulting on their rent, giving them a 100% guarantee of rental payment.
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