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To equip both new employees to the letting function, as well as employees not currently working in the letting function, with the foundational understanding of what letting management entails.

• Understand the Definition and Purpose of Letting Management as per the Rental Housing Act.
• Property Sourcing and Marketing.
• Manage the Rental Application Process.
• Manage the Inspection Process.
• Logging of Maintenance Calls.
• Perform the Financial Management of a Residential Letting Property.
• Perform specialized Property Management requirements.
• Perform Lease Expiry procedures.

Learning Unit 1:  Letting management as per Legislation.

• Definition of letting management.
• Purpose of letting management.
• The place of letting management in the business.
• Applicable Legislation.
  • Rental Housing Act.
  • Protection of personal information Act.
  • Property Practitioners Act.
  • Financial Intelligence Centre Act.

Learning Unit 2:  Property Sourcing and Marketing.

• Sourcing
• Marketing profile target markets.
• Identify your unique rental proposition.
• Marketing Channels.
  • To Let Boards.
  • Newspaper Ads.
  • Social Media.
  • Letting List.
  • Property 24.
• Develop your business brand.
• Choose your marketing avenues.
• Set your goals and budget.
• Nurture your loyal clients.
• Monitor and review.

Learning Unit 3:  The Application Process.

• Viewing a property.
• The new lessee application.
• New lessee documentation required.
• Credit vetting (ITC and Affordability).
• Paying a deposit.
• Signing the Rental Agreement.

Learning Unit 4:  Inspections.

• Booking different types of inspections:
  • In – Inspections.
  • Out – Inspections.
  • Update – Inspections.
• Property Inspections.
• Timing of inspections.
• Interpreting inspection reports.
• Determining maintenance responsibility (lessor/lessee).

Learning Unit 5:  Maintenance Calls.

• Maintenance queries from lessees.
• Maintenance queries from lessors.
• Process of obtaining a quotation.
• Following up on quotations/maintenance/invoices.

Learning Unit 6:  Financial Management.

• Levies management (internal and external).
• Rental increase management.
• Managing utility accounts (water, electricity and rates & taxes).
• The letting account.

Learning Unit 7: Specialized property management requirements.

• Types of mandates.
• Purpose and application of a mandate.
• Housing tribunal.
• Small claims court.
• Liaison between client and attorneys.
• Liaison between lessors and lessees.

Learning Unit 8:  Lease Expiry.

• Lease expiry notice.
  • Lessee process.
  • Absconding by the Lessee.
  • Lessor process.
• Finalizing lessee maintenance responsibilities.
• Finalizing lessee utility responsibilities.
• Finalizing lessee account/deposit.

Learning Unit 9: Residential Letting Objectives,

Employee Benchmarks and Reporting.

• Balance Scorecard.
• Employee Benchmarks.
• Monthly Reporting.
  
  • Applications and Stationery.
  • Portfolio Mangers.
  • Keys and Filing.
• Exception Reports.