Renting: Key fees tenants should know about: [an extract from an Article by: André van Rooyen from automated rental payment provider PayProp – in property24 – 8 August 2024]
Tenants looking to rent a home are often surprised by the costs beyond the monthly rental amount.
Application fee: A non-refundable fee averaging R250
Initial lease fee: A non-refundable fee that covers the costs of creating and executing your new lease agreement
Incoming inspection: Joint incoming and outgoing inspections are a legal requirement under both the Rental Housing Act and the Property Practitioners Act.
Monthly administration fee: A fee averaging approximately R100 per month that covers the monthly management costs associated with the rental.
Outgoing inspection fee: This fee of approximately R500 covers the detailed inspection of the rental property once you vacate.
Interest on arrears: With luck this won’t come up, but landlords and rental agents can legally charge interest on any rent payments you miss.
The Original Article Can be Viewed here: → https://www.property24.com/articles/renting-key-fees-tenants-should-know-about/32321?fbclid=IwY2xjawE8ymFleHRuA2FlbQIxMQABHYVKCCXTv2DranTVlhFgbPSoY1TCuSV3kHJPPO-kagH5D-becuYjrmjDJw_aem_EueGpy1oXkMeFZYkwyZLCQ