Results 1 to 5 of 5

Thread: Lease renewal.

  1. #1
    Junior Member
    Join Date
    Sep 2007
    Posts
    19
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Lease renewal.

    I have had my business for 10 years and my lease has been renewed automatically every 3 years with no problem. 9 Months ago, my lease expired and I was sent a form to fill in as a new applicant. ie. 3 months bank statement, 3 credit refs. ITC check etc. The guy in charge told me it looks bad as I have no credit refs. as they need this for the NCA and FICA stuff.
    I don't need credit as I pay cash for ALL my needs. The gov. tells us to get rid of bad credit and now without it you get penalized.
    My bill for the past 9 months has been zero, but I have been paying anyway.
    Any ideas,

  2. #2
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    22,648
    Thanks
    3,304
    Thanked 2,676 Times in 2,257 Posts
    Blog Entries
    12
    If your ITC record is clean and you've been paying all your installments to date, I think they'd have a hard time justifying not renewing your lease on the basis of granting "reckless credit."

    If they decline to renew on the basis of your credit record (or lack of it in this case), I suspect getting a lawyer to write a letter would be well worth the investment.

    BTW - list your landlord as a credit reference

  3. #3
    Gold Member
    Join Date
    Jun 2006
    Posts
    561
    Thanks
    32
    Thanked 49 Times in 32 Posts
    Quote Originally Posted by Dave A View Post
    BTW - list your landlord as a credit reference
    Hi Marco

    I agree with a 9 year history they will be hard pressed to prove your inability to pay especially when faced with a lawyers letter.

    I LOVE the advice Dave - play them at their own silly game!
    Regards

    Debbie
    debbie@stafftraining.co.za

    From reception to management training, assertiveness, accountability or interviewing skills, we have a wide range of training workshops available for you!
    www.stafftraining.co.za

    Find us on
    Facebook

  4. #4
    Platinum Member Chatmaster's Avatar
    Join Date
    Aug 2006
    Location
    Cape Town
    Posts
    1,065
    Thanks
    107
    Thanked 99 Times in 63 Posts
    I have a suspicion your landlord might be uninformed or unsure of the legislation. I had the exact same problem when I sold my house and wanted to rent. The estate agents couldn't understand why I do not have any recent credit references. A letter from my attorney sorted that one out.
    Roelof Vermeulen (Entrepreneurship in large organizations)
    Roelof Vermeulen| Rock flaps south africa

  5. #5
    Junior Member
    Join Date
    Sep 2007
    Posts
    19
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Thank you for all the advice. I never thought of listing my landlord as a reference. I will wait for the outcome before I act. My credit record at transunion ITC is clear. By the way my landlord is a national Property Management Service for Government property.
    Thanks again for the support.

Similar Threads

  1. Arrear lease agreement problems?
    By Eugene in forum National Credit Act Forum
    Replies: 8
    Last Post: 24-Nov-10, 06:17 PM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •