Page 29 - Kyalami_Issue 1_2022

PROPERTY

change in ownership of the property or a change the lease agreement, and be included in any
in bank accounts when joint landlords change their eviction processes if they become necessary.
own relationship status, you need to make sure While it may be tempting to contract with only a
you are paying the right person. Making this clear primary contact to ‘keep it simple’ the reality is,
in the contract makes it easier for the channels of neglecting to contract all parties leads to legal
communication to remain open and a solid flow of battles that are anything but simple, especially if
where the money is routed to be established. it involves a couple that has split up.

LANDLORDS Shanaaz explains, “We have seen a case where
Sign up all your tenants there was a lease signed with one partner and,
As a landlord, there is always the chance that you post break-up, the unsigned partner was left in
can be defrauded, so it is extremely important that occupation, without the ability to keep up full
you put your tenants through a thorough vetting payments. Unfortunately, the landlord did not have
process. Some individuals may be trying to dodge documentation that could be enforced against
the consequences of their bad decisions that are this individual as he was not on the lease at all.”
reflected in their records, by not signing the lease
themselves. To avoid any surprises, make sure “Of course, there are always legal remedies, but
that all legal adults (18 years or older) living on they mean lengthy, costly and draining months
your property are contracted and have signed the of legal back and forth where you cannot get
lease. another tenant into the property and earn the
income you were counting on. Since neither of
This is fundamental, as it allows for legal action to these parties updated the documentation, all
be enforced on all parties living on the property. arrears had to be recovered from the partner who
They can then be held equally accountable for signed the lease but had moved out. As unfair as
the settlement of the obligation mentioned in the situation seems, at the end of the day, the
legal documentation is what is enforced,” says
Shanaaz.

Rental Income
If you have changed the ownership of your
investment property, as a landlord, you need
to understand that the rental revenue and
obligations belong to the party or parties to whom
the property is registered. But be aware that
registration could be subject to trust deeds, or
settlement agreements.

Property owners also need to be clear on what
is listed on the deed and update it immediately
should there be changes to trusts, beneficiaries
or any recipients of the returns associated with
the property. Changing legal documents such
as trust deeds unilaterally can be considered
fraudulent and can result in criminal charges for
landlords who receive rental that is not legally
theirs.

Going through these levels of scrutiny to ensure
that you are not open to these risks as tenants or
landlords may seem unnecessary in the midst of
a dream marriage or relationship but these risks
are all too real. Sad as it may be, planning for
the worst and trusting that the best happens is a
far greater strategy for long term happiness than
being duped or dumped.

Shanaaz Trethewey , CEO of RentMaster.

Kyalami Estates • CONNECT • Issue 1 • 2022 27