New Lease Agreement to improve rental returns
A well drafted Multi-let Lease Agreement offers many unique elements to mitigate a landlord’s risk, improve returns and ensure that tenants opting to reside in multi-tenanted accommodation are safe. And, that all tenants will enjoy the benefits of communal living without the fear of having a rowdy neighbour and a landlord whose hands are tied to act!
What is a Multi-let Lease? A lease agreement where multiple tenants share accommodation in separate units in the property.
What are the benefits of opting for one?
There are numerous benefits to opting for a Multi-let Lease. One is that it is a great way for a landlord to maximise on rental returns – if a tenant fails to pay rent and that particular tenant’s lease agreement is cancelled, the other tenants are still liable to pay their pro rata portion of the rental, ensuring continuous rental yields on the property investment. But, there are legal specifications required in the way that you sign a Multi-let Lease with your tenants to make this possible.
The TPN Legal team have summarised the benefits and clarified how and why this type of lease agreement has the opportunity to improve cash flow and returns for you. To read the full article, click here.
Join us for a Legal Training Webinar to learn how to improve your rental returns with the new TPN Multi-let Lease here:
For more information on the most widely used Lease Agreement in South Africa, and how you can download it today, please visit the TPN Shop.
Vacancy Survey 2023 Q3
The demand for residential rental property remains strong. Vacancies have declined nationally to 6.76% in the third quarter of 2023, the lowest since 2017. Despite a constrained economy, tenants have continued to meet their rental obligations with te…