South Africa — Property: Rental Market

Key facts

• A landlord may take a deposit up to the amount set in the lease and must invest it in an interest-bearing account with a financial institution, showing proof of interest on request.
• The balance of the deposit and interest must be refunded not later than 21 days after the lease expires, less amounts owed or reasonable repair costs.
• Each province has a Rental Housing Tribunal that hears disputes such as non-payment of rent and failure to refund a deposit; its services are free and rulings have the force of a Magistrate Court judgment.
• Tenants cannot use the deposit to cover unpaid rent.

Steps

1. Finding a Rental Property — Rental properties can be found through estate agents, online listings, or word of mouth. It's essential to work with a reputable agent or property manager to ensure a smooth transaction.
2. Applying for a Rental Property — Prospective tenants typically need to provide proof of income, employment, and rental history. Landlords may also conduct credit checks and require a guarantor.
3. Signing a Rental Agreement — A standard rental agreement in South Africa usually includes clauses related to rent, utilities, maintenance, and notice periods. Tenants should carefully review the agreement before signing.