In recent years there has been a surge in demand for rental accommodation in the northern suburbs of Johannesburg, which has led to the development of rental schemes – sectional title developments that are owned and managed by one company purely for rental purposes.
“There are a number of advantages to renting an apartment in one of these schemes,” says Chris Renecle, MD of Renprop, “the biggest of which is that there is a vested interest by the owner in ensuring that the property is well maintained and looked after as it will directly influence the income potential and capital growth of the property.”
When it comes to renting a sectional title home, the top things that tenants often look for include good security, a neat and well managed complex and that the property is well maintained. “Managed rental schemes tick all the boxes on these points,” says Renecle.
“Renting an apartment in a managed scheme gives tenants peace of mind and a sense of wellbeing as it is in the interest of the owner of the scheme to ensure that the properties maintain their value and have a high occupancy rate.”
Renecle points out that as a result, tenants benefit from the attention to detail that is paid in these three key areas that they consider important. “Typical security measures in place in managed schemes include access controlled entrance/exit points as well as a 24-hour guard present on the property.”
In addition Renecle says that when it comes to managed rental schemes, the service providers responsible for maintenance and upkeep of the common areas are professionally managed, with their level of service carefully measured against key performance indicators to ensure that the greater property looks neat and appealing. “The overall welfare of residents is further taken care of through ensuring that the rules of the sectional title complex are strictly adhered to with appropriate action taken where residents break the rules.”
Overall the individual properties in rental schemes are well maintained with all features in good working order to encourage tenants to stay for as long as possible while simultaneously ensuring that the property holds its value. “This benefits both the owner and the tenants.”
He says that another benefit to renting in a managed scheme is the fact that there is also only one entity to deal with when it comes to the lease and any problems or issues that may arise within the complex. “This gives tenants a more holistic service and therefore a more streamlined rental experience.”
Renecle concludes by saying that those tenants who are looking for a cohesive and smooth rental experience in a well run and managed complex, a managed scheme is a good option.