Thursday, August 27, 2015

Ever wondered why certain clauses are in a lease or sale agreement - "ASK TPN"

In our role as South Africa’s only tenant behaviour and rental payment profile credit bureau, TPN has been privy to the most wild and outlandish tenant-landlord disputes. Tenants “borrowing keys to measure for curtains” and simply moving in with no lease agreement in place, tenants signing lease agreements and never moving in, or tenants who change the terms of a verbal lease agreement to payment in arrears instead of payment in advance. Tenants who undertake DIY projects and spray paint carpets luminous blue.

A quality written lease agreement will prevent most tenant-landlord disputes. In 2011 TPN developed and released a set of standardised lease agreements, mandates, application documents, inspection documents and many additional essential property rental documents neatly packaged in a LeasePack which our members, landlords and estate agents, can buy and download for their use. The attractiveness of the LeasePack are the documents are updated on a regular basis meaning the TPN members always have access to the most up-to-date property rental and sales documentation.

In reality, many tenants and an alarming number of landlords simply sign the lease agreement presented to them without either reading or understating the terms of the agreement they are binding themselves to.
It is hardly unexpected when tenants and landlords inadvertently breach the lease agreement simply because of not fully understanding their own obligations.

Could it be that legal documents can be overwhelming, and unless you have a law degree it is impossible to know each piece of legislation that applies to the lease agreement: Consumer Protection Act, National Credit Act, Rental Housing Act, Unfair Practices Regulations and the Estate Agent Affair Act to name a few.

In our dealings with hundreds of thousands of tenants, TPN sat up and took notice; we have developed an “Ask TPN” website which is hyperlinked to all pertinent clauses of the lease agreement. This means tenants, landlords or the rental agent can click on the “Ask TPN” hyperlink on each clause of the lease agreement which will open the TPN WIKI website with a short explanation of the clause, including which piece of legislation is relevant to that clause.

“Ask TPN” levels the playing field for both tenant and landlord as all parties are now privy to the meaning, importance and legislation behind the terms of their tenant-landlord relationship.

TPN is pleased to announce "Ask TPN" has been translated for our Afrikaans LeasePack members.

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