Page 28 - Kyalami_Issue 1_2022

PROPERTY

Photographer: Anthony Tran, Unsplash

BREAKING THE BANK

How separation impacts

tenants and landlords alike

t’s an unfortunate reality that often TENANTS
separations break both the bank and your Update your lease immediately
heart. In situations where relationships are As a tenant, if you vacate the property, the lease
Iending, both landlords and tenants are at must be updated immediately to absolve you of
risk. The last thing people wonder about is all the any legally binding agreement you made to pay the
paperwork associated with moving on. However, rent. If you don’t update the contract to exclude
the admin that goes with the de-coupling process, you and your ex doesn’t pay rent, there is a chance
if ignored, can have dire financial consequences that, as the leaseholder, you could be blacklisted.
that stretch far further than the time needed to Updating the lease directly with the landlord or
heal your heart. property company will protect you from being
legally bound to pay rent or damages on a home
Shanaaz Trethewey, CEO of RentMaster, shares you no longer occupy.
the risks associated with the separation process
and her top insights on how to navigate these Know who you owe
sensitive times swiftly, empathetically and Knowing who you are legally contracted to pay
accurately. is equally important. If, for instance, there is a

26 Kyalami Estates • CONNECT • Issue 1 • 2022