• Renting procedure

Renting procedure

We understand that our clients often want more than just a house broker. They want someone who will take on associated responsibilities, so they have the security of knowing their property is in the care of expert managers. We take on this responsibility, thereby protecting you from rental scams, discriminatory procedures, bad tenants, lawsuits…in short, from the pitfalls that threaten the uninitiated.

As we said before, renting out a property is all about finding reliable tenants who pay their rent regularly and look after your property as you would. Our meticulous tenant screening and selection process includes basic checks such as:

  • Background check to verify identity and background of the tenant and his immediate family, professional credentials, income, credit history, rental history (including reason for vacating previous property), etc.
  • Grading potential tenants according to pre-defined tenant criteria.
  • Informing tenants who were turned down.
  • Ensuring longer tenancy periods (which benefits you by preventing loss of rent due to vacant periods and costs incurred in maintenance between tenancies).
  • In case of doubt, we either reject the tenant or seek a tenant’s guarantor.
  • Ensuring rent is paid on time.

Our Process

We like to think of ourselves as a bridge between you and your tenant. Here’s a brief description of what we do for you once you become a member of the Value Home Property family:

1 Evaluation and preliminaries

Based on your requirement, we visit your property and give you a preliminary evaluation report. Our evaluation is based on unbiased advice from a third-person perspective. Our evaluation enables us to recommend a rental rate.

We also offer recommendations on repairs and cosmetic improvements that maximize monthly rent, with a good return on investment (ROI).

We collate data on rental rates in the area and work with you to determine the optimal rental rate. Rent research varies, but will include looking at comparable recent rentals, according to size and type.

We also discuss the pros and cons of different policies, such as accepting pets, allowing smoking etc.

3 Showing your property

We will follow up on the publicity by:

Setting up a 24-hour hot-line where prospective tenants can listen to detailed information about your property. Fielding calls from prospects for questions and viewings.

Meeting prospective tenants for showings throughout the week and weekend.

Providing prospective tenants with rental applications that are legally compliant with fair housing laws. Our Property Manager will be your single point of contact within the Value Home organisation. He will meet prospective tenants and show the property on your behalf whenever required. (This is subject to availability of keys with us or access to it whenever required).

Ideally, your keys should be in our custody. If this is not possible, you could appoint a local representative, whom we would contact when required.

5A

* Entry Inventory Check—Value Home Properties will inspect the member’s property at the time of possession by the tenant. Property will be documented with photos or videos. A checklist will be created of all the objects and the condition they are in at the commencement of the agreement, providing a record for use at the time of vacating. 

2 Publicising your property

Your property will be publicised through our local brokers, realtors, leasing agents and associates network. We will also advertise on signage, fliers, and through paid and free rental listings on real estate portals.

We release ads in important newspapers, creating ads tailored to promote your property in the selected advertising medium. Value Home Properties reserves the right to decide on the publication, type of ad and frequency.

We put up To Let signs on your property. Our Property Executive will be listed as the contact person for potential customers.

4 Post-selection of tenant

We will explain the limitations, restrictions and responsibilities of both parties, once the tenant is approved by you, we will handle negotiations and paperwork towards closing the tenancy.

We will prepare the property for occupation, including cleaning and optimizing interiors and manicuring landscaping to increase curb appeal.

Perform detailed documentation of the interior and exterior including photos.

5 Tenant move-in and inventory

We will confirm the move in date with tenant and draw up rental/lease agreement, review of rental/lease guidelines with tenant to confirm rental payment terms and property maintenance expectations and ensure rental/lease agreement have been properly executed.

Perform detailed move in inspection with tenant and have tenants sign a report verifying the condition of the property prior to move-in.

We will inspect your property at commencement of contract, take pictures and make an entry inventory* checklist of all the items available in the property (like furniture, fixtures, etc.)

Some of our clients have come to us with legal problems, including the eviction of problem tenants. In such cases, we can:

File relevant documents to initiate and complete an unlawful detainer action.
Represent the owner in court.
Coordinate with law enforcement to remove tenant and tenant’s possessions from unit.