Property Services - Lettings
Portfolio Property Investments can offer you a choice of two services:
(Tenant placement only)
Portfolio Property Investments will conduct the following services:
- Advise on current market rentals
- Advertise, conduct viewings and endeavor to secure a reliable tenant
- Conduct Credit Checks and obtain other references where necessary
- Sign up a lease agreement
- FICA all transacting parties (this is a legal requirement)
- Collect the first months rent, electricity, water and damage deposit into the PPI Trust Account
- Deduct our fee and transfer the balance into the landlords bank account
- Facilitate the hand over of keys
- Issue the landlord with a consolidated statement and accompanying invoice
Total cost for a RESIDENTIAL LEASE: is one month's rent plus VAT for a lease up to 12 months.
Total cost for a COMMERCIAL LEASE: 5% of the first 2 years rental income, 2.5% of the next 3 years rental income, 1.5% of the balance, plus VAT thereon
Costs of Rental Collection: Not applicable to Part Management which involves a tenant placement only.
(Tenant placement and rental collection)
Portfolio Property Investments will conduct all of the above mentioned part management services, as well as the following additional services:
- Collect rents on a monthly basis and email statements to owners
- Oversee repairs and maintenance if required.
- Pay over to the client the net rental proceeds on a monthly basis
- Hold the tenants electricity, water and damage deposit in a deposit handling trust account in terms of Section 54 (1) of the PPA, Property Practitioners Act, 22 of 2019
- Assist in the collection of arrear rentals ie. Phone calls, sms reminders, visits, warning letters and letters of demand up to the point where legal proceedings need to be instituted and/or housing tribunals attended.
Total Cost for a RESIDENTIAL LEASE: one month's rent plus VAT for a lease up to 12 months. Thereafter we will manage rental collection and service charge recoveries at a rate of 12% plus VAT.
Total Cost for a COMMERCIAL LEASE: 5% of the first 2 years rental income, 2.5% of the next 3 years rental income, 1.5% of the balance, plus VAT thereon. Thereafter we will manage rental collection and service charge recoveries at a negotiable rate depending on the facility and our assessment of the work involved .
PLEASE NOTE - Invoicing for lease commission will be made against the PPI Trust Account set up to manage the collection of the first months rent, damage deposit and tenant lease fee. Such commission is deemed to have been earned and shall be payable in full upon occupation of the leased premises, or payment of the deposit / bank guarantee or the first month’s rental, whichever is the earlier. All Lease Agreements will specifically mention Portfolio Property Investments as the effective cause of the lease and document the amount of commission due in respect of the lease.