Renting out your Witfield property can be an excellent way to generate an additional income from an asset you already own. But putting a "To Let" sign up and waiting for someone to pay the deposit is not really a rental strategy.

There are important decisions to make before you advertise, from setting the right rental to preparing the property, choosing how you will market it and deciding how prospective tenants will be assessed.

And perhaps most importantly, you need to remember that finding a tenant is not the same thing as finding the right tenant.

If you're considering renting out your Witfield property, here are seven things worth checking before you take the next step.

1. Is Your Rental Price Realistic?

The first question is not "How much do I need every month?"

The better question is "What is the market realistically prepared to pay for this property?"

Your bond repayment, rates, insurance and other expenses are important to you as the property owner, but they don't automatically determine the property's rental value.

Overpricing can result in extended vacancy, while underpricing can unnecessarily reduce your investment return.

Our guide on pricing your property in Boksburg explains why getting the asking price right is such an important part of the process.

For landlords in Witfield, the goal should be to find the balance between an attractive market-related rental and a realistic return on your investment.

2. Is the Property Ready for a Tenant?

Before advertising, walk through the property as if you were seeing it for the first time.

Are the walls presentable? Are the cupboards working? Do the taps and toilets function properly? Are there obvious maintenance issues? Is the garden under control? Is the property clean?

Small problems can create a poor first impression and can also become much bigger problems once a tenant moves in.

A landlord should ideally address obvious maintenance issues before the property is marketed rather than waiting for the tenant to report them.

Good presentation also matters when the property is being advertised online. Quality photographs can influence whether someone decides to enquire or simply scrolls past your listing.

See our article on why good property photos matter when renting or selling your home.

3. Are You Prepared for the Tenant Screening Process?

One of the biggest mistakes a landlord can make is treating the first person who offers the deposit as the solution.

A prospective tenant may be friendly, polite and enthusiastic about the property. That is useful, but it doesn't tell you whether they are likely to meet their contractual obligations.

A proper tenant assessment should consider factors such as affordability, employment, credit history, rental history and the information supplied in the application.

Our Tenant Screening & Risk Assessment can help landlords understand why tenant selection needs to go beyond a simple conversation.

You can also read about warning signs that a rental applicant may be high risk.

4. Do You Have the Right Rental Documentation?

A rental arrangement should not be based on a handshake and a WhatsApp conversation.

The lease agreement establishes important rights and responsibilities for both landlord and tenant. It should clearly deal with matters such as rental payments, deposits, maintenance responsibilities, occupation, utilities, inspections and other applicable terms.

Before accepting a tenant, make sure you understand the documents you are using and the obligations they create.

Our guide explaining what a good residential lease agreement should cover is a useful starting point for landlords.

You can also review our rental documentation resources.

5. Have You Considered What Happens After the Tenant Moves In?

Finding a tenant is only the beginning of the landlord-tenant relationship.

Once the tenant moves in, someone needs to monitor rental payments, deal with maintenance requests, conduct inspections where appropriate, communicate with the tenant and address problems when they arise.

This is where some private landlords discover that managing a rental property is considerably more time-consuming than they expected.

If you're considering handling everything yourself, compare the responsibilities involved with self-managing a rental property versus using professional property management.

6. Do You Have a Plan for Late or Missed Payments?

Hopefully your tenant pays on time every month.

But a responsible landlord should still have a process for what happens if payment is late.

Ignoring a missed payment doesn't make the problem disappear. At the same time, reacting emotionally can make an already difficult situation worse.

Landlords should understand their contractual rights, communicate properly with tenants and follow the appropriate legal process when problems arise.

Our article on what can happen when tenants do not pay rent explains some of the consequences of rental arrears.

We also explain why every landlord should understand the importance of a letter of demand.

7. Do You Actually Have Time to Manage the Property?

This is perhaps the question landlords ask themselves too late.

Managing a rental property can involve advertising, responding to enquiries, arranging viewings, checking applications, communicating with tenants, collecting rental, handling maintenance, keeping records and dealing with unexpected problems.

If you have the time, knowledge and systems to do this properly, self-management may be an option.

If you don't, professional assistance can potentially save you considerable time and help introduce a more structured management process.

A+ Properties assists landlords with property marketing, tenant placement and rental management across the East Rand.

Renting Out Your Witfield Property Doesn't Have to Be Complicated

The key is to approach the process as an investment decision rather than simply trying to get someone into the property as quickly as possible.

Set a realistic rental. Prepare the property properly. Market it professionally. Screen applicants carefully. Use appropriate documentation. And have a plan for managing the tenancy after occupation.

Most importantly, remember that the right tenant is usually more valuable than simply the fastest tenant.

If you own a property in Witfield and are thinking about renting it out, A+ Properties can help you assess the options and manage the process.

LET A+ PROPERTIES HELP YOU SELL OR RENT

If you've already found your own tenant, we can also assist with the next stage of the process through our tenant placement service.

I'VE FOUND A TENANT – WHAT NOW?

And if you're still deciding whether renting is the right option for your property, our guide to deciding whether to sell or rent can help you consider the decision before committing.

Thinking about renting out your Witfield property? Don't leave the success of your investment to chance. Talk to A+ Properties and let's work out the smartest way forward.

BUY // SELL // RENT SMARTLY