Are problem tenants causing you sleepless nights?
Do you have tenants that are not paying rent on time? Or perhaps, you have irresponsible tenants who are mistreating your rental property?
Our proud sponsor, Preferental, has a solution for you!
When it comes to rental management services, Preferental covers it all – from dealing with monthly invoice administration to ensuring that your rental gets paid. Preferental is a digital property management platform that aims to give landlords peace of mind. They provide landlords with all the tools and support they need to manage their properties easily while knowing their rental income is guaranteed.
Before even worrying to get paid on time, one of the biggest challenges for landlords is finding the most suitable tenant for their rental property. Some of the qualities that differentiate a quality tenant from the rest are financial stability, good payment history and no judgements. Landlords tend to neglect to do thorough screenings simply because they don’t know how to do it or what to look out for.
At Preferental, they understand that being a landlord is a tough job – every day you are swamped with multiple tasks and responsibilities. There’s a good chance that you might end up going with “first come, first serve” tenants. However, from a property management perspective, the industry has proven itself that this option doesn’t work. Every serious landlord should do a thorough background check on every applicant that wants to rent their property. And this is where Preferental comes into play.
Preferental does thorough screenings on each potential tenant to determine the risk profile of the tenant. Their specialised team do a full background check on the tenant’s payment history, judgements (if any) and they confirm employment to determine if the tenant has a stable income. This does not guarantee that the tenant will never default, but the chances of having a non-paying tenant in the property are significantly lower.
TIP: First comers aren’t always the best, so don’t allow yourself to be rushed into making a decision.
If you are struggling with property management and tenants paying late, worry no more. Preferental knows it is not easy to run a day-to-day grind for your property portfolio and that is why they take on the risk, so you don’t have. To assist you even further, they offer discounts to all SAPIN members.
SAPIN Member Discount
Connect with Preferental at https://sapropertynetwork.com/preferental/
Preferental doesn’t only assist landlords in securing the best possible tenants and providing a rental guarantee, they also take care of your other financial exposure through their Preferental Promise.
Case Study
This is where Preferental kicks in. Let’s take a look at the scenario below and find out how Preferental is able to assist landlords in situations like these.
Meet Joey, the tenant.
Joey had been renting a property for R8000 per month, but unfortunately, since May 2021 she started to pay late and stopped paying her rent at all from June 2021. It was clear that she couldn’t afford the rental anymore but also made excuses for why she couldn’t move out of the property.
Meet Robert, the landlord.
Luckily, Robert is covered on Preferental’s Premium Package and Preferental has paid his full rental on time from the month of May. While Robert had to focus on other commitments he felt relieved as Preferental focused on the admin around sending a Letter of Demand to Joey and making sure Robert can cover his bond through their guaranteed rental payment to him.
2 Months Later
Joey had vacated the property by means of the eviction process, still without paying the outstanding rental balances. Preferental was there to carry that financial risk of unpaid rent and eviction costs on behalf of Robert, while their legal partner, Xpello, dealt with the whole eviction process.
Based on this scenario, Preferental saved the landlord the following
In Conclusion
When you’re considering renting out your property, do it the preferred way by making Preferental part of your property journey and enjoy being a Property Investor.
Get in touch with Preferental – they don’t only assist landlords in securing the best possible tenants, they also take care of your financial exposure through their Preferental Promise.
Contact Preferental through our SAPIN connect portal at https://sapropertynetwork.com/preferental/
