10 years ago TPN was launched into the property industry. On the 24th May 2000 Northgate Properties took a leap of faith with us and signed up as our first member. They are still members – although they now operate from the Western Cape!
At that time our vision was for TPN to be a household name in the property industry; a brand that our members would be proud to use.
10 years on and these are some of the ways are brand is used:
I was tickled pink to read Selection Estates’ advert in the Property Trader. Selection Estates had a list of Rentals – but referred the reader to http://www.rentbay.co.za/ for more detailed information. RentBay is a TPN hosted free property rental listing website. (Did you know that TPN had 65,000 rental averts viewed by prospective tenants in May 2010.
Plovers Realty had the TPN affiliate logo enlarged to take up the entire front window of their shopfront.
We supply all our members with free TPN affiliated stickers for their property To Let boards, GB Properties took this concept one step further by incorporating the TPN affiliated logo into the print work of their boards.
I receive many emails from our members (too many to list), where our member has the TPN affiliated logo in their signature; or the TPN logo in their lease agreement, application form and other marketing.
Thank you, our members for the last 10 years; I am looking forward to sharing the next ten with you all!
Happy letting!
Tuesday, June 15, 2010
Friday, June 4, 2010
Take the time to be personal
Last month Chris and I raced in the Ironman. We both had a great race, but I was a little ill afterwards. I spent sometime in the Netcare Hospitals in PE and Sunninghill. The Sunninghill Hospital doctors are amazing.
The doctor asked me where I was sore. I had already self diagnosed pneumonia and told him my chest and tummy hurt. Thankfully doctors take the time to actually examine their patients; some poking and prodding, a dozen blood tests, ultra sound and a CT scan later the doctor diagnosed a liver infection and fluid in my pelvic region. A strong course of antibiotics and I am as good as new.
But back to tenant, landlord and property manager relationships. Our crazy busy business lives sometimes mean we do not communicate properly with each other. And emails can sometimes have a way of hindering quality correspondence where we do not actually hear each other.
Think about an email thrashed out by an upset tenant or landlord or an email which has been summarised or maybe even slightly ambiguous. Sometimes it just makes more sense to pick up the phone and talk to the writer of the terse email. Or sometimes, as with my pneumonia self diagnosis where the doctor took the time for an examination, it might also be appropriate to take the time to call the writer, ask probing questions, hear the answer and respond to the “actual” issue.
Tonight I was involved in some terse email tennis. One of our suppliers got our order horribly wrong. After a week of curt emails, I was one email away from cancelling the contract. Before pulling the deal, as a last resort, I called the supplier. 15 minutes of actual talking and hearing each other’s perspective an entire week of frustration was resolved.
This is not a new lesson, but I am humble enough to be re-learn.
The doctor asked me where I was sore. I had already self diagnosed pneumonia and told him my chest and tummy hurt. Thankfully doctors take the time to actually examine their patients; some poking and prodding, a dozen blood tests, ultra sound and a CT scan later the doctor diagnosed a liver infection and fluid in my pelvic region. A strong course of antibiotics and I am as good as new.
But back to tenant, landlord and property manager relationships. Our crazy busy business lives sometimes mean we do not communicate properly with each other. And emails can sometimes have a way of hindering quality correspondence where we do not actually hear each other.
Think about an email thrashed out by an upset tenant or landlord or an email which has been summarised or maybe even slightly ambiguous. Sometimes it just makes more sense to pick up the phone and talk to the writer of the terse email. Or sometimes, as with my pneumonia self diagnosis where the doctor took the time for an examination, it might also be appropriate to take the time to call the writer, ask probing questions, hear the answer and respond to the “actual” issue.
Tonight I was involved in some terse email tennis. One of our suppliers got our order horribly wrong. After a week of curt emails, I was one email away from cancelling the contract. Before pulling the deal, as a last resort, I called the supplier. 15 minutes of actual talking and hearing each other’s perspective an entire week of frustration was resolved.
This is not a new lesson, but I am humble enough to be re-learn.
Friday, May 21, 2010
Stamp Duty Act
I was recently asked again about stamp duties. In case you missed the previous media releases, the Stamp Duty Act was abolished on the 31 March 2009.
This means that no lease of any duration or rent value requires stamp duty. Please click on the SARS link to view the SARS website, where further media releases are available:
http://www.sars.gov.za/home.asp?pid=191
Media Releases 2009
SARS announces abolition of Stamp Duty
Abolition of Stamp Duty from 1 April 2009
PRETORIA 31 March 2009 – The South African Revenue Service is pleased to announce the abolition of the Stamp Duty Act (77 of 1968) with effect from midnight on 31 March 2009. The abolition forms part of the on-going efforts to reduce the administrative burden on taxpayers and to simplify the tax system.
The scrapping of the Act follows the whittling down of the scope of stamp duties over the past few years until only property leases of over five years required stamp duties to be paid. This is now done away with from 1 April 2009.
The scrapping of the Act is, however, not retrospective and taxpayers remain liable for stamp duties due up to 31 march 2009 and any outstanding stamp duties must still be paid.
Adhesive revenue stamps will only be demonetorized from 1 November 2009 to allow time for other government departments which utilize these to introduce alternative measures. After that date they may not be used for any purpose.
Holders of existing stocks of revenue stamps have until 31 October 2010 to claim a refund for the stamps from their nearest SARS branch.
Revenue franking machines will also be finally scrapped on 1 November 2009 and any value remaining on these machines can be refunded until 31 October 2010 at a SARS branch.
ENDS
This means that no lease of any duration or rent value requires stamp duty. Please click on the SARS link to view the SARS website, where further media releases are available:
http://www.sars.gov.za/home.asp?pid=191
Media Releases 2009
SARS announces abolition of Stamp Duty
Abolition of Stamp Duty from 1 April 2009
PRETORIA 31 March 2009 – The South African Revenue Service is pleased to announce the abolition of the Stamp Duty Act (77 of 1968) with effect from midnight on 31 March 2009. The abolition forms part of the on-going efforts to reduce the administrative burden on taxpayers and to simplify the tax system.
The scrapping of the Act follows the whittling down of the scope of stamp duties over the past few years until only property leases of over five years required stamp duties to be paid. This is now done away with from 1 April 2009.
The scrapping of the Act is, however, not retrospective and taxpayers remain liable for stamp duties due up to 31 march 2009 and any outstanding stamp duties must still be paid.
Adhesive revenue stamps will only be demonetorized from 1 November 2009 to allow time for other government departments which utilize these to introduce alternative measures. After that date they may not be used for any purpose.
Holders of existing stocks of revenue stamps have until 31 October 2010 to claim a refund for the stamps from their nearest SARS branch.
Revenue franking machines will also be finally scrapped on 1 November 2009 and any value remaining on these machines can be refunded until 31 October 2010 at a SARS branch.
ENDS
Monday, May 17, 2010
Death of the tenant
The death of the tenant does not dissolve the lease. The executor of the estate will manage the winding up of the estate including the lease; however the estate remains liable for the payment of rent. The landlord or estate agent will liaise with the executor for delivering the rental statement, collection of rent, handing over of the keys and the out going inspection. Any deposit refund due will be paid over to the deceased estate.
A practical example:
A tenant enters into a 12 month lease. Two months into the lease the tenant dies. The tenant was in the process of a divorce, but the divorce was not finalised. Both the tenant's wife and mother call the estate agent wanting access to the property.
The estate agent must wait until the court names the executor and liaise directly with the executor.
A practical example:
A tenant enters into a 12 month lease. Two months into the lease the tenant dies. The tenant was in the process of a divorce, but the divorce was not finalised. Both the tenant's wife and mother call the estate agent wanting access to the property.
The estate agent must wait until the court names the executor and liaise directly with the executor.
Saturday, May 8, 2010
Confidentiality of the tenant’s credit profile
I am often asked “can the estate agent show the tenant’s credit report to the landlord or to the tenant directly”
Landlord:
The estate agent is acting as an agent on the landlord’s behalf when placing a tenant. Part of placing the tenant is a risk assessment, achieved via the tenant’s credit report. Ultimately should the tenant default, the risk and loss is bourn by the landlord.
The landlord has a right to inspect the tenant’s credit report before deciding on whether or not they are happy to sign the lease agreement with the prospective tenant. In fact TPN recommends all estate agents present the tenant’s credit report with the application to lease to the landlord and that the tenant’s credit report is signed off at the same time the landlord signs the lease agreement.
Tenant:
The estate agent or landlord is not allowed to provide the tenant with a copy their own credit profile - however you may inform the tenant their application was declined due to bad credit on which ever credit bureau.
The tenant can contact TPN for further information and counselling regarding their credit profile.
Landlord:
The estate agent is acting as an agent on the landlord’s behalf when placing a tenant. Part of placing the tenant is a risk assessment, achieved via the tenant’s credit report. Ultimately should the tenant default, the risk and loss is bourn by the landlord.
The landlord has a right to inspect the tenant’s credit report before deciding on whether or not they are happy to sign the lease agreement with the prospective tenant. In fact TPN recommends all estate agents present the tenant’s credit report with the application to lease to the landlord and that the tenant’s credit report is signed off at the same time the landlord signs the lease agreement.
Tenant:
The estate agent or landlord is not allowed to provide the tenant with a copy their own credit profile - however you may inform the tenant their application was declined due to bad credit on which ever credit bureau.
The tenant can contact TPN for further information and counselling regarding their credit profile.
Monday, April 19, 2010
Landlords beware - scamsters pose as world charity staffers
One of TPN's members was scammed recently. Old scam but new spin - please click on this link to read the scam: Landlords Beware: http://www.tpn.co.za/website/clientzone/1059_0001.pdf
Follow up from our member indicates that this individual has been very busy in the B&B and hotel industry as well. I have copied and pasted Pat's follow-up for everyone's notice.
Hi Michelle,
I have been corresponding with several other owners of guest houses and b n
b's regarding this Harry Van Zyl.
As you can see below, Dr. Rupert has now advised of this scam as the
criminal was using his name and details too! What a cheek! Needless to say,
I am certain he will be found very soon, City Lodge and numerous other
places were also conned, always the same or similar story.
One guest lodge actually realised he was staying there last Friday (in
Sandhurst) when the owner saw the email scam warning, and she called the
police. Unfortunately the criminal jumped an 8 foot wall and got away, but
they do have CCTV pictures. He used a false ID number at the last lodge,
which also triggered a suspicion when the owner checked him out.
Thanks for your email regarding the media. I will keep you advised. Perhaps
you should put something about him in your blog or somewhere on your website
for the protection of other agents and owners who may also be duped.
Follow up from our member indicates that this individual has been very busy in the B&B and hotel industry as well. I have copied and pasted Pat's follow-up for everyone's notice.
Hi Michelle,
I have been corresponding with several other owners of guest houses and b n
b's regarding this Harry Van Zyl.
As you can see below, Dr. Rupert has now advised of this scam as the
criminal was using his name and details too! What a cheek! Needless to say,
I am certain he will be found very soon, City Lodge and numerous other
places were also conned, always the same or similar story.
One guest lodge actually realised he was staying there last Friday (in
Sandhurst) when the owner saw the email scam warning, and she called the
police. Unfortunately the criminal jumped an 8 foot wall and got away, but
they do have CCTV pictures. He used a false ID number at the last lodge,
which also triggered a suspicion when the owner checked him out.
Thanks for your email regarding the media. I will keep you advised. Perhaps
you should put something about him in your blog or somewhere on your website
for the protection of other agents and owners who may also be duped.
Sunday, April 4, 2010
National Credit Act - Regulation 19 (4)
The estate agent industry has long been plagued with the reputation of “second hand car salesmen” – no disrespect to the motor industry either.
The underlying characteristics of estate agents, are perceived by the public to be commission hungry agents whose sole interest is renting the property to whoever the first prospective tenant is, without providing any of the additional after sales service support such as collecting the rent and paying same over timeously to the landlord, no inspections (regularly, or even incoming and outgoing), tardy communication and overall lacking any skills.
I know this sounds drastic – but – it is the perception of many landlords and tenants.
I can also vouch for the fact that the industry has started the clean-up process the Institute of Estate Agents SA is becoming more active, the education process and registration with the Estate Agents Affairs Board.
But I sound the warning bell to estate agents who take short cuts when using the services of credit bureaus. These short cuts undermine the very data hosted by credit bureaus and create an opportunity where delinquent tenants actually get way with “tenant from hell” behaviour.
The National Credit Act (NCA) is very specific – NCA Regulation 19 (4)
“All sources of information as set out in section 70 (2) of the Act and Regulation 18 (7) must give the consumer at least 20 business notice of its intention to submit the following adverse information concerning that person to a credit bureau:
(a) classification of consumer behaviour, including… “slow-payer”…
(b) classifications related to enforcement action taken by the credit provider… “
In short this means that before listing default information on any credit bureau, the estate agent must give the tenant 20 business day notice in writing of their intention to list this information on the various credit bureaus.
Failure to give this notice to the tenant by the estate agent could result in the tenant disputing the information with the credit bureau. The credit bureau will have no option but to delete this default should the estate agent not be able to provide a copy of the 20 business day notice of intention to list to the tenant.
The outcome of this dispute results in valuable default information being deleted from the tenant’s credit profile and the tenant is afforded the opportunity to enter the rental market place where unsuspecting rental agents and landlords could be taken for a ride again.
I appeal to all our members – please ensure you follow due process prior to adding default information. This shortcut only hampers our industry.
The underlying characteristics of estate agents, are perceived by the public to be commission hungry agents whose sole interest is renting the property to whoever the first prospective tenant is, without providing any of the additional after sales service support such as collecting the rent and paying same over timeously to the landlord, no inspections (regularly, or even incoming and outgoing), tardy communication and overall lacking any skills.
I know this sounds drastic – but – it is the perception of many landlords and tenants.
I can also vouch for the fact that the industry has started the clean-up process the Institute of Estate Agents SA is becoming more active, the education process and registration with the Estate Agents Affairs Board.
But I sound the warning bell to estate agents who take short cuts when using the services of credit bureaus. These short cuts undermine the very data hosted by credit bureaus and create an opportunity where delinquent tenants actually get way with “tenant from hell” behaviour.
The National Credit Act (NCA) is very specific – NCA Regulation 19 (4)
“All sources of information as set out in section 70 (2) of the Act and Regulation 18 (7) must give the consumer at least 20 business notice of its intention to submit the following adverse information concerning that person to a credit bureau:
(a) classification of consumer behaviour, including… “slow-payer”…
(b) classifications related to enforcement action taken by the credit provider… “
In short this means that before listing default information on any credit bureau, the estate agent must give the tenant 20 business day notice in writing of their intention to list this information on the various credit bureaus.
Failure to give this notice to the tenant by the estate agent could result in the tenant disputing the information with the credit bureau. The credit bureau will have no option but to delete this default should the estate agent not be able to provide a copy of the 20 business day notice of intention to list to the tenant.
The outcome of this dispute results in valuable default information being deleted from the tenant’s credit profile and the tenant is afforded the opportunity to enter the rental market place where unsuspecting rental agents and landlords could be taken for a ride again.
I appeal to all our members – please ensure you follow due process prior to adding default information. This shortcut only hampers our industry.
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