I have been involved in the property market in South Africa from 1991, registered with the Estate Agents Board and have obtained the NQ4.
Since 2001 until 2013 I have worked for a development company in JHB dealing mostly with off-plan sales and also with rentals of clients who have purchased the properties for buy to let.
During that time I have carried out many inspections on properties for the rental market, new home snagging, and understand the importance of an inspection and inventory to protect the landords asset and to avoid possible disputes with tenants. The tenant’s deposit return can be a very contensious issue, if a detailed inventory has not been prepared and signed by all parties, in the case of it being referred to the rental tribunal - unless there is a clear indication that the property was damaged after the tenant moved in during the lease time, then the landlord will usually lose the case, which could involve not only losing the deposit but many repairs to the property which the landlord will not be able to claim from the deposit. A well prepared inventory will be of benefit both to the landlord and the tenant.
A little known act but with huge consequences
While an inventory is not a legal requirement under South African law, an inspection forms part of the legal requirement for leasing property.
The Rental Housing Act – Act No. 50 1999.
>> CLICK HERE TO DOWNLOAD A SAMPLE INVENTORY