Having investment property in your name is one of the key ways to create long-term wealth. Managing your tenants, property management including maintenance and upkeep, and rental payments can turn into a major headache if you run your property yourself. Luckily, IGrow Wealth Investments offers a full range of property management services tailored to South African investors. This is just one of the ways we make investing in property easy and hassle-free!
If you are a first-time property investor or a seasoned property portfolio holder, we cover five things IGrow’s property management team takes off your hands. This will give you more time to focus on what matters most: building your property portfolio and having quality time to spend with family and people that matter to you.
Table of Contents
- Tenant sourcing and vetting checks
- Lease agreements and remaining legally compliant
- Rental collection and managing defaulting tenants
- Coordination of maintenance and repairs
- Financial reports and tax compliance support
1. Tenant sourcing and vetting checks
Sourcing an appropriate tenant is a key factor in successful rental property investing. IGrow’s rental managers use thorough screening processes that cover background checks, credit history assessments, employment history and verification and rental history checks. This will mean that only professional, reliable tenants will be renting your property, which greatly reduces the risk of tenants defaulting on rent or damaging your property.
IGrow’s property management team, under IGrow Rentals, is also fully involved in marketing your rental unit across a host of online portals such as Property24 and Private Property.
Our team will answer any enquiries and schedule viewings with prospective tenants. Our rental managers also use our nifty, cutting-edge property management system to track applicants’ interactions with your listing. This makes the whole process smooth, and you won’t have to lift a finger!
2. Lease agreements and remaining legally compliant
Keeping track of South Africa’s rental laws and the rental market can be daunting. IGrow’s rental managers will make sure your lease agreement is fully compliant with the Rental Housing Act, the Consumer Protection Act, and any other required legislation. Our team draws up tailored, legally-compliant lease documents to protect your interests and clearly outline your tenant’s responsibilities.
Additionally, the IGrow team stays abreast of rental law changes at all times. This will ensure that you are always legally and tax-compliant. If any disputes should arise, our team manages this promptly and with professionalism, backed by their nearly two decades of rental management experience. The property management services IGrow offers will give you peace of mind and protect you at every step of your property investment journey.
3. Rental collection and managing defaulting tenants
Are you exhausted from chasing late rental payments? IGrow’s property management software fully automates rent collection through a secure debit order system. This ensures a secure cash flow (or rental income) into your account every month. Every transaction is tracked as well as recorded, so you can monitor payments and arrears at any time.
If a tenant falls behind on their rent, the IGrow team immediately instigates a follow-up process. Payment solutions are offered while protecting your rights as the property owner (investor).
Our rental managers take care of communications with your tenants concerning reminders, breach letters where necessary, and they will initiate legal action on your behalf when deemed necessary. You don’t have to get personally involved in handling tricky financial conversations with your tenants; our team does this for you.
4. Coordination of maintenance and repairs
Maintenance and property upkeep are part and parcel of property ownership; however, this doesn’t need to fall under your responsibility. IGrow rental managers handle all aspects of property repairs. Our team conducts property inspections and handles everything down to emergency repairs. IGrow has an approved and vetted network of contractors that they oversee in fulfilling quality maintenance services at competitive rates.
As the investor, you will receive regular updates and reports regarding your property maintenance and the smooth running of your property, with the aid of IGrow’s property management software. It will keep you updated without feeling overwhelmed.
Our team ensures they conduct inspections before, throughout and after tenants move out. Your property asset is therefore protected, and tenants will be held accountable for any damage.
5. Financial reports and tax compliance support
Keeping on top of expenses, rental income and having your papers ready for taxation season is a full-time job. IGrow Wealth Investments’ property management system creates detailed monthly reports that cover rental payments, levy fees, repair costs and recording, and any other related costs.
The IGrow team work alongside our Tax and Accounting Adisory team to make sure you have the necessary and accurate documentation submitted to SARS.
Everything you may need is at your fingertips, saving you time, hassles and potential obstacles. Legal and tax compliance are a very valuable property management service offering at IGrow. We aim to cater to serious investors looking to scale their property portfolios effectively.
Why do investors choose the IGrow property management team?
Our rental managers have just under two decades of experience in property management. IGrow’s systems, software and expert team are unmatched.
Jacques Fouché, Founder and CEO of IGrow, says, “We’ve built a team that takes the complexity out of property ownership. From tenant screening processes to preparing you for tax season, our property management division lets investors focus on growing their portfolios, not on time-consuming paperwork and admin.”
That is the secret of working with experts who are aiming to help you succeed. Whether you own one flat or 5, IGrow’s supportive team ensures your investment portfolio runs like a business with fewer headaches and better ROI.
Jacques Fouché’s opinions on having expert property managers on your team
“Appoint top managers to run your real estate investment business. You need to get a brilliant rental management company to take care of the day-to-day running of the properties in your portfolio, to free up your time to focus on the bigger picture – namely strategically building your portfolio and with it, your future financial freedom.” – Jacques Fouché, Founder and CEO of IGrow Wealth Investments
“You will always be the CEO of your portfolio. Your rental managers will report to you, and your tenants will report to your rental managers. Therefore, you need never meet your tenants – it’s just not part of your job. Rather, build a good relationship with your rental manager and make sure they do their job.” – Jacques Fouché, (Jacques Fouché’s eBook)
Final Thoughts
Managing investment property should not turn into a second job. IGrow’s expert rental management team handles all aspects of property management. We use modern tools like integrated property management software and an effective property management system to deliver excellent results.
IGrow’s property management services are aimed at South African investors who want their property or properties to generate a sound passive income, not excess stress.
Do you want to make your property investment work harder, in your favour, while you work less?
Speak to IGrow Rentals today and allow our experienced rental managers to help you build a hassle-free, top-performing property portfolio.
