Self-Managing Your Rental Property? 8 Things Landlords Should Never Ignore

Owning a rental property is a business decision. The property needs to generate income, the tenant needs to be treated fairly, and the landlord needs to comply with the applicable laws and contractual obligations.

The problem is that many landlords only look for professional help after something has already gone wrong.

By then, a problem that could have been prevented can become considerably more expensive to fix.

1. Choosing the Right Tenant

If you are self-managing but would rather have the applicant professionally assessed, A+ Properties offers a Tenant Screening & Risk Assessment service for landlords.

2. Don't Treat the Lease Agreement as Just Another Piece of Paper

A residential lease is much more than a document containing the rental amount and the tenant's name.

It establishes the contractual relationship between landlord and tenant and should clearly deal with important issues such as rental payments, deposits, utilities, maintenance responsibilities, inspections, breach and termination.

Landlords should also make sure that the lease they use remains appropriate for their circumstances and complies with applicable South African legislation.

3. Keep Proper Records From Day One

One of the biggest mistakes a self-managing landlord can make is relying on memory and WhatsApp messages to manage the tenancy.

Keep organised records of:

• The signed lease agreement
• The tenant's application and supporting documents
• Screening information
• Proof of payments
• Inspection reports
• Maintenance requests
• Invoices and receipts
• Communications relating to important tenancy matters
• Deposit records

If there is ever a disagreement, proper documentation can be far more valuable than trying to remember what happened six months earlier.

4. Conduct Proper Inspections

A rental property should not simply be handed over to a tenant and then forgotten about until the lease expires.

Landlords should establish the condition of the property at the beginning of the tenancy and deal with inspections appropriately during the tenancy and at the end of the lease.

Photographs can also be extremely useful when they are properly dated and kept with the relevant inspection documentation.

The objective isn't to find reasons to blame the tenant. It is to establish a clear factual record of the property's condition.

5. Don't Ignore Maintenance Problems

A small maintenance issue can become a major expense when ignored.

A leaking tap may seem insignificant. A small roof leak may seem manageable. A damaged electrical fitting may appear to be something that can wait.

But maintenance problems can escalate quickly.

Good landlords respond to legitimate maintenance issues promptly while also distinguishing between normal maintenance, tenant-caused damage and matters that require specialist attention.

6. Know the Difference Between Being Firm and Being Reckless

Rental problems can become emotional very quickly.

A landlord who is frustrated because rent has not been paid may be tempted to send angry messages, change locks, disconnect services or take other action without understanding the legal process.

That can make an already difficult situation considerably worse.

When a tenancy goes wrong, landlords should deal with the problem systematically, document the breach and obtain appropriate advice about the lawful steps available to them.

Being a landlord means protecting your investment, but it also means understanding that tenants have legal rights.

7. Don't Wait Until You Have a Problem Before Asking for Help

This is probably the biggest lesson for self-managing landlords.

You don't necessarily have to hand your entire property over to a managing agent just because you need professional assistance with one part of the process.

Sometimes you simply need help with:

• Finding and screening a tenant
• Preparing or reviewing documentation
• Understanding the rental process
• Handling a difficult tenancy situation
• Conducting inspections
• Managing rental administration
• Understanding your options before making a major decision

This is where professional support for self-managing landlords can make sense.

8. Review Whether Renting Is Still the Right Decision

There is another part of being a landlord that is often overlooked.

Just because you own a property doesn't automatically mean that continuing to rent it out is always the best financial decision.

Your circumstances can change.

The property value can change. Rental demand can change. Interest rates, municipal costs, maintenance requirements and your personal financial position can all change.

That is why landlords should periodically step back and ask a bigger question:

"Is keeping this property as a rental still the best option for me?"

Sometimes the answer will be yes.

Sometimes selling may make more sense.

And sometimes the best decision may simply be to hold the property and wait.

What About Rental Scams?

There is also another side to the rental market that landlords and tenants should understand.

Tenants are increasingly warned about rental scams, fake listings and people advertising properties they have no authority to rent.

For landlords, this is another reason why property advertising should be handled responsibly and why tenants should be encouraged to verify who they are dealing with before paying money.

A+ Properties provides a Property Owner Verification Service designed to help tenants verify property ownership and the identity or authority of the person advertising the property.

Self-Managing Doesn't Mean Managing Alone

There is nothing wrong with a landlord choosing to manage their own property.

For some owners, self-management provides greater control and can reduce ongoing management costs.

But self-management becomes risky when it turns into "I'll just figure it out when something happens."

The better approach is to know your responsibilities, keep proper records, screen tenants carefully, maintain the property, understand your legal obligations and know where to obtain professional assistance when you need it.