Wednesday, July 17, 2019

Become FICA compliant!

In terms of FICA Legislation, Estate Agents are required to take steps to verify the identity of their clients. This means all their clients: landlords, tenants, their sellers and their buyers.

TPN is excited to be teaming up with CPB credit bureau to make this process easier by bringing the Know Your Client (KYC) enquiry to Estate Agents!

The ID verification with photo now accesses the National Population Register which means that we can confirm an applicant’s name and surname and we have a photograph taken at the time of application for a Smart ID, passport or bar-coded identity document. We can also confirm marital status and living or deceased status.

Our proof of residence uses golden source information such as deeds data and other verified sources. Excitingly, we will be bringing lease address and levy information into that as well in the near future!



To access TPN's Know Your Client, simply go to www.tpn.co.za, click on 'Credit Enquiries' and select the 'Know Your Client' enquiry. 

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Monday, July 8, 2019

To Airbnb or to let long-term?

The Department of Tourism has laid the groundwork to regulate Airbnb and the kicker is that it could affect the entire rental industry!

New Tourism Bill

Currently, private individuals can freely list their property on unregulated apps such as Airbnb and the profits from these listings go directly into the pocket of the person listing that property. The Tourism Department seems to be suffering as a result as some of their funding comes from the issuing of registration certificates to hotels and guest houses at an annual cost.

Friday, June 28, 2019

Busting the myth! Renting to a non-South African is more of a risk

Let’s face it, foreign tenants get a bad rap. Landlords fear the flight risk that a tenant on another passport may pose but when you lay out the legalities, it becomes clear that foreign tenants are no more of a risk than South African citizens are. With a growing 13.5% of tenants applying for rental properties on a foreign passport, there are a few myths that need busting!

MYTH: It is illegal to rent to a non-South African

FACT: It is completely legal to rent to a non-South African tenant that is in the country legally.

Wednesday, June 19, 2019

My tenant died - what now?

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It is a sad and sensitive situation when a landlord or tenant passes away during the course of a lease agreement. The situation needs to be managed with an element of thoughtfulness and care, especially as you will often be dealing with the grieving family of the deceased. Dealing with the human aspect is a lot easier when you understand how to deal with the legal aspect.

Death does not cancel a lease

Wednesday, June 12, 2019

There is always a lease in place!

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It is quite a regular occurrence in the TPN legal office to have a tenant confidently state over the phone that they have never had a lease in place and that as a result, they don’t need to provide notice to their landlord to vacate.

This is a myth.

Wednesday, June 5, 2019

TPN data powers ABSA home loans

We have exciting news to share! ABSA has partnered with TPN Credit Bureau to create 'Future Rental Income' - the first product of its kind to extend loans to investors even if they don't currently have a lease in place. 

Watch Nondumiso Ncapai & Ana Bonnani from ABSA explain our innovative partnership and new product offering:



For more information on Future Rental Income, click here

Friday, May 31, 2019

Refunding the Rental Deposit


A large proportion of rental disputes that appear before the Rental Housing Tribunal arise from disputes regarding the handling and returning of a tenant’s deposit and the interest that has accrued on that deposit.

In a recent interview with the SABC, TPN Managing Director, Michelle Dickens set out the importance of securing a rental deposit: “typically a rental deposit is paid as security over damages that might accrue to the property or in the event that there is outstanding electricity at the end of the lease, that deposit can be used once the tenant has vacated the property to offset any of the damages.”