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Thread: Kitchen appliances - recommendations?

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  1. #1
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    Nope letting agent sourced it, probably too lazy to ask and wants the shortest route to closing the deal therefore no 3 month statement. Given the tenants credentials and the positive reference of previous landlord I'm going with it, asking to cough up statements at this point might botch the deal.

  2. #2
    Gold Member Houses4Rent's Avatar
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    Next time do it yourself or find yourself a decent agent and sign a mandate with same outlining exactly what you expect to get for the agreed commission. Let me guess, no written mandate was done here?
    Houses4Rent
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  3. #3
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    Situation is a little more complicated than that...yes there was mandate with this estate agency, we were development partners in this JV and our development partner hired them to sell the units which they did, of which we kept 5 for ourselves.

    We are going through a 'hand over' phase now, units are being transfered out and our partnership is being dissolved (project was a success partners are moving on), technically I don't have full control yet, site is still a mess as we are doing finishes and we don't allow anyone on site yet. We get the keys to the units from the 1st of Oct and until then I have to work with these agents and until everythings handed over etc etc...at the moment I'm just hustling to get things movin but it's a little frustrating...all diffificult to explain if you're not exposed to the complexities.

    Neverthless, keep the pragmatic input comin' Mr Houses4Rent I see you are a man of no compromises when it comes to tenant placement!

  4. #4
    Gold Member Houses4Rent's Avatar
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    I see. However, 3m bank statements must be standard (and part of a mandate) for anybody who vets a potential tenant.
    Houses4Rent
    "We treat your investment as we treat our own"
    marc@houses4rent.co.za www.houses4rent.co.za
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    Global Residential Property Investor / Specialized Letting Agent & Property Manager

  5. #5
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    Latest update:

    Agent wants 8% + VAT and same fee if tenant renews. Lease is signed by the tenant and ready to go. Agent's fee is a little high but the deal still works out to more than what I was expecting from this unit.

  6. #6
    Gold Member Houses4Rent's Avatar
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    You seem surprised about the 8%. Once again, was there no agreement in place before?

    Anyway, fee should be much lower on renewal, no marketing, no vetting etc.
    Houses4Rent
    "We treat your investment as we treat our own"
    marc@houses4rent.co.za www.houses4rent.co.za
    083-3115551
    Global Residential Property Investor / Specialized Letting Agent & Property Manager

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