The role of the rental practitioner Rental Property Law places the practitioner in a dynamic position. A practitioner is an extension of their principal. A practitioner can never represent both landlord and tenant in this transaction. As such, your duty lies with your landlord, so place a qualified tenant! The relationship between landlord and practitioner is governed by: Case law....
P. Rentals
What is the rental mandate? The rental mandate is the formal agreement between the principal and the Property Practitioner. A management mandate can only be a sole mandate, so it must be in writing. Section 3.3 of the Code of Conduct. Section 22 CPT – Plain language. It provides that the Property Practitioner must fulfil the terms of the mandate, after which the Property Practitioner is...
Property Practitioners are to keep in mind the following administrative tasks required when dealing with a Landlord. Record the following: - Legal ownership. - FICA details. - Type of management contract. - Property inspection report. - Banking details/account payment details. Record maintenance of: - Market trends. - Regular feedback sessions with the landlord. - Body...
When letting properties to tenants, Property Practitioners are often asked to include a clause giving the tenant the right to purchase the property at a later date, usually during the period of the tenancy. Many letting Property Practitioners are unaware that there are two very different ways of doing this, leading to misinterpretation of the steps that must be taken for the tenant to exercise their...