Renting out properties to other people whether for residential or commercial purposes is a business and as such every piece of rental property being rented out ought to be treated as a real and separate business entity with it's own records and/or books of accounts.
So, How Do You Ensure You Collect Your Rentals No Matter What?
Well, the following 4 simple BUT very Effective Strategies will Help You achieve this. Read below.
So, How Do You Ensure You Collect Your Rentals No Matter What?
Well, the following 4 simple BUT very Effective Strategies will Help You achieve this. Read below.
1. Know Your Prospective Tenants First (KYPTF)
Knowing your prospective tenants well is the very first thing you OUGHT to Do before you rent out your property to any prospective tenant. Why do this in the first place? Because you need to know beforehand whether the prospective tenant is the right one or not. And how do you know whether the prospective tenant is the right one or not? Use a Tenant Application Form (TAF). Why use this form? Because this form will help provide you with relevant data or information you need to enable you assess whether the person is the right one or not. This TAF form will contain inter alia questions like, why is the tenant in question leaving his or her current place of residence?; what is the name and phone number of his or her former landlord? (this will enable you to talk to the former landlord and find out more information which may be hidden away from you purposely); where does the tenant in question work? (this question will enable you to know whether the tenant works or not. And if the tenant works - which should normally be the case for obvious reasons-, the preceding question will also enable you to know his or her physical place of work so that in case the tenant runs away without your knowledge, you'll be able to trace such a one); what assets does the tenant in question own? e.g. Cars, etc. (this question enables you to know in advance what other valuable assets the tenant owns so that in case of deliberate rental payment default, you can then fall back on such assets as security for payment of your rental arrears if any that is).
And if you need a template of a Tenant Application Form, then please Click->HERE for inspiration!
And if you need a template of a Tenant Application Form, then please Click->HERE for inspiration!
2. Keep Records of Monthly Rental Payments
Keeping records of monthly rental payments will help you in many ways. The first way it will help you is that you will have documentary evidence of the payments. The second way is that it will help you in terms of whether the tenant pays rentals on time or whether he or she always pays late. And where the tenant happens to be perpetually paying rentals late, then this can be a good ground for termination of the lease agreement and eventual ejectment of the tenant from your premises with or without the Court's intervention as was the case in Phiri t/a Shabbach Fashions and General Delears v Chipeta and Another (2011) ZMHC where the court rejected a request for a new tenancy by a tenant of business premises due to the fact that the landlord had already given notice to terminate the tenancy between the parties and had also successfully presented sufficient documentary evidence in form of bank statements showing perpetual late payments of rentals by the tenant in question.
3. Distress for Rent
Where a tenant has accumulated a lot of rental arrears, do not just let the tenant go scot free simply because you want to get rid of him or her immediately (unless you have forgiven such a one). Instead, distress for rent so you can recover your accumulated rental arrears. In the Republic of Zambia, this can be done either through the Court only if the premises are for residential purposes or directly in person if the premises are for business purposes. And in both instances, court bailiffs can be engaged and of course at a minimal fee to help recover your rental arrears via seizure of the tenant's property until the rental arrears are paid in full failure to which the seized tenant's property is auctioned.
Distress for rent is simply a summary remedy by which a person (landlord in this case) is entitled without the legal process to take into his possession the personal chattels of another (tenant in this case) to be held as a pledge to compel performance of a duty, the satisfaction of a debt or demand for the payment of damages. This is a common law right. In the English case of Lyons v Elliot (1876) QB 2210, the court observed that the right of distress is a right of a landlord to seize movable property from the demised or rented premises and to hold them until rent is paid or the service performed. Since the right of distress is a right of distress for arrears of rent at common law, it is therefore implied in every business lease agreement in Zambia.
Therefore, never, never, never let a tenant who has accumulated rental arrears go scot free when there are channels you can use right now to help you recover your much needed rental income.
Distress for rent is simply a summary remedy by which a person (landlord in this case) is entitled without the legal process to take into his possession the personal chattels of another (tenant in this case) to be held as a pledge to compel performance of a duty, the satisfaction of a debt or demand for the payment of damages. This is a common law right. In the English case of Lyons v Elliot (1876) QB 2210, the court observed that the right of distress is a right of a landlord to seize movable property from the demised or rented premises and to hold them until rent is paid or the service performed. Since the right of distress is a right of distress for arrears of rent at common law, it is therefore implied in every business lease agreement in Zambia.
Therefore, never, never, never let a tenant who has accumulated rental arrears go scot free when there are channels you can use right now to help you recover your much needed rental income.
4. Never Wait Until The Rental Arrears Accumulate to Unmanageable Levels
Never wait until your tenant accumulates rentals to unmanageable levels as this may make it very difficulty and hard for you to recover your rental arrears.
Perhaps a great question to ask is, at what point are rentals considered to be in arrears, due and payable?
Well, this question was ably answered by the Zambian Supreme Court in the case of Hampako v National Housing Authority (1988/89) ZR 61 ZMSC where the court held that where any rent is payable in advance, it becomes in arrears the minute it has not been paid on the due date.
Therefore, as a landlord whether for residential or business premises, do not wait a long time to recover your rentals as doing so might work against you unless you have just forgiven the tenant in question or simply treated the rental arrears as a bad debt!
If you live in the Republic of Zambia and happen to have investment properties whether for residential or business purposes, you may make use of the Small Claims Court to help you quickly collect and/or recover your rentals from your defaulting and/or problematic tenants. The Small Claims Court is meant to be a fast track court intended to help people collect or recover their outstanding debts whether rental arrears or other forms of debt upto a maximum of only ZMK20,000.
However, the only challenge with this fast track court is that it has jurisdictional limitations and other restrictions. Otherwise, it is an excellent platform to help any landlord or creditor wishing to collect or recover any outstanding debt amounting to only ZMK20,000!
NOTE 1: Currently Have Issues Collecting or Recovering Your Rentals From Your Tenants?
Well, talk to us. We can help you collect or recover your rental arrears no matter what.
Here Are Some of the Services We Offer:
-> Tenant-Landlord Dispute Resolution Advisory Services Using Non-Frictional/Non-Confrontational Strategies;
-> Rental Arrears Recovery Advisory Services;
-> Legal Advisory Services in Land Dispute Matters;
-> Real Estate Agency Services;
-> Property Management/Administration Services;
->Fully Furnished/Virtual Office Space Letting;
-> Blockchain/Crypto-currency Based Real Estate Investment Services on a Global Scale.
Interested? Then Call David Kapalu Right Now on +260 966 388525 / +260 977 805045 / 0955 168754 or Simply Whatsapp: +260 966 388525. MZIEA No: 321.
NOTE 2: LOOKING TO BUY AND INCREASE YOUR CURRENT INVESTMENT PROPERTY PORTFOLIO? WELL, CLICK ->HERE OR SIMPLY SEE BELOW FOR LATEST PLOT LISTINGS.
PLOTS FOR QUICK SALE IN LUSAKA CITY AND NEARBY SURROUNDING AREAS:
1. 45m x 35m plot in Lusaka West Area @ K60,000; ((Pay 50%, Down Payment for this particular Plot and the Remainder on Flexible Terms);
2. 25m x 20m plot in Waterfalls Residential Area @ K85,000;
3. 25m x 20m plot in Meanwood Ndeke East Residential Area, Phase 1 @ K130,000;
4. 12m x 30m plot in Vorna Valley Residential Area situated about 400m away from the Tarmac Road @ K150,000;
5. 70m x 70m (1 Acre) plots in Palabana Residential Area situated direct opposite Palabana University @ K150,000 each;
6. 70m x 70m (1 Acre) plots in Chipalesa Area situated between National Housing Authority's Emerald Park and Savenda Farms off Leopards Hill Road @ K150,000 each;
7. 25m x 20m plot in Meanwood Ndeke Phase 1 @ K180,00;
8. 20m x 30m plot in Makeni Konga near Jehovah's witnesses situated about 200 metres away from the Tarmac Road and behind Makeni Police Station @ K190,000;
9. 18 Hectares Land in Kapyanga Area of Lusaka West formerly a Farming Resettlement Scheme Area @ K14,000 per Hectare;
10. 3 Hectares Land on Title Deed at 15 Miles Area and situated approximately 5 Kilometers away from the Great North Road @ K150,000 per Hectare;
11. 40m x 50m plot in Waterfalls Residential Area @ K350,000;
12. 20m x 25m plot with a structure built upto lintel level in Meanwood Ndeke Phase 1 @ K400,000; and last but not the least,
13. 30m x 50m plots off Airport Road behind Harvest Filling Station @ K550,000 each!!!
All Prices Highly Negotiable! You may also pay a 50% Down Payment and the remainder in 3 to 4 months time!!!!!!!
Interested? Then Call David Kapalu Right Now on +260 966 388525 / +260 977 805045 / 0955 168754 or Simply Whatsapp: +260 966 388525. MZIEA No: 321.
Perhaps a great question to ask is, at what point are rentals considered to be in arrears, due and payable?
Well, this question was ably answered by the Zambian Supreme Court in the case of Hampako v National Housing Authority (1988/89) ZR 61 ZMSC where the court held that where any rent is payable in advance, it becomes in arrears the minute it has not been paid on the due date.
Therefore, as a landlord whether for residential or business premises, do not wait a long time to recover your rentals as doing so might work against you unless you have just forgiven the tenant in question or simply treated the rental arrears as a bad debt!
If you live in the Republic of Zambia and happen to have investment properties whether for residential or business purposes, you may make use of the Small Claims Court to help you quickly collect and/or recover your rentals from your defaulting and/or problematic tenants. The Small Claims Court is meant to be a fast track court intended to help people collect or recover their outstanding debts whether rental arrears or other forms of debt upto a maximum of only ZMK20,000.
However, the only challenge with this fast track court is that it has jurisdictional limitations and other restrictions. Otherwise, it is an excellent platform to help any landlord or creditor wishing to collect or recover any outstanding debt amounting to only ZMK20,000!
NOTE 1: Currently Have Issues Collecting or Recovering Your Rentals From Your Tenants?
Well, talk to us. We can help you collect or recover your rental arrears no matter what.
Here Are Some of the Services We Offer:
-> Tenant-Landlord Dispute Resolution Advisory Services Using Non-Frictional/Non-Confrontational Strategies;
-> Rental Arrears Recovery Advisory Services;
-> Legal Advisory Services in Land Dispute Matters;
-> Real Estate Agency Services;
-> Property Management/Administration Services;
->Fully Furnished/Virtual Office Space Letting;
-> Blockchain/Crypto-currency Based Real Estate Investment Services on a Global Scale.
Interested? Then Call David Kapalu Right Now on +260 966 388525 / +260 977 805045 / 0955 168754 or Simply Whatsapp: +260 966 388525. MZIEA No: 321.
NOTE 2: LOOKING TO BUY AND INCREASE YOUR CURRENT INVESTMENT PROPERTY PORTFOLIO? WELL, CLICK ->HERE OR SIMPLY SEE BELOW FOR LATEST PLOT LISTINGS.
PLOTS FOR QUICK SALE IN LUSAKA CITY AND NEARBY SURROUNDING AREAS:
1. 45m x 35m plot in Lusaka West Area @ K60,000; ((Pay 50%, Down Payment for this particular Plot and the Remainder on Flexible Terms);
2. 25m x 20m plot in Waterfalls Residential Area @ K85,000;
3. 25m x 20m plot in Meanwood Ndeke East Residential Area, Phase 1 @ K130,000;
4. 12m x 30m plot in Vorna Valley Residential Area situated about 400m away from the Tarmac Road @ K150,000;
5. 70m x 70m (1 Acre) plots in Palabana Residential Area situated direct opposite Palabana University @ K150,000 each;
6. 70m x 70m (1 Acre) plots in Chipalesa Area situated between National Housing Authority's Emerald Park and Savenda Farms off Leopards Hill Road @ K150,000 each;
7. 25m x 20m plot in Meanwood Ndeke Phase 1 @ K180,00;
8. 20m x 30m plot in Makeni Konga near Jehovah's witnesses situated about 200 metres away from the Tarmac Road and behind Makeni Police Station @ K190,000;
9. 18 Hectares Land in Kapyanga Area of Lusaka West formerly a Farming Resettlement Scheme Area @ K14,000 per Hectare;
10. 3 Hectares Land on Title Deed at 15 Miles Area and situated approximately 5 Kilometers away from the Great North Road @ K150,000 per Hectare;
11. 40m x 50m plot in Waterfalls Residential Area @ K350,000;
12. 20m x 25m plot with a structure built upto lintel level in Meanwood Ndeke Phase 1 @ K400,000; and last but not the least,
13. 30m x 50m plots off Airport Road behind Harvest Filling Station @ K550,000 each!!!
All Prices Highly Negotiable! You may also pay a 50% Down Payment and the remainder in 3 to 4 months time!!!!!!!
Interested? Then Call David Kapalu Right Now on +260 966 388525 / +260 977 805045 / 0955 168754 or Simply Whatsapp: +260 966 388525. MZIEA No: 321.
Copyright Notice © Davik Real Estate Agency - Zambia. All Rights Reserved.
The information on this Weblog-page is copyrighted and protected by copyright laws of the Republic of Zambia and International treaties. The information published herein may ONLY be used and shared pursuant to the subscription terms and conditions of this page and any reproduction, copying & pasting, and/or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express consent and/or written permission of: Davik Real Estate Agency-Zambia and its founding member namely David Kapalu or its other personal representatives. Therefore, any unlawful and unauthorized reproduction, copying & pasting in whole or in part, or redistribution whether electronic or otherwise shall be punishable by law.
However, You are totally FREE to Share this Information with whomsoever You like as long as You Acknowledge and Give the full Attribution to the Author and this Weblog-page as Your source. Failure to which it shall constitute an Infringement of this Copyrighted Material!!!!!!
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ABOUT THE AUTHOR - DAVID KAPALU
David Kapalu is a Real Estate Investment Consultant who happens to be a duly Registered Member of the Zambian Institute of Estate Agents, an Internet Marketing Specialist, Motivational Speaker, Public Speaker, Life Coach, Crypto-Currency Investor, Enthusiast and Trainer. He is also a Holder of a Bachelor of Laws (LLB) Degree from the Zambian Open University. He is Someone who Understands his Subject so Well and Knows How to Distil and Reduce Complex Matters into Simple to Understand Matters.
Therefore, Call/WhatsApp/Sms him right now on +260 966 388525 and contract him for one on one real estate investment advice or legal advice!
He also stands ready to be booked for speaking engagements as well as offer free and paid radio and television interviews with any individual or organization interested in him sharing his deep insight and understanding of real estate matters as well as offer legal advice pertaining to land rights and ownership in the Zambian Market Landscape!
The information on this Weblog-page is copyrighted and protected by copyright laws of the Republic of Zambia and International treaties. The information published herein may ONLY be used and shared pursuant to the subscription terms and conditions of this page and any reproduction, copying & pasting, and/or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express consent and/or written permission of: Davik Real Estate Agency-Zambia and its founding member namely David Kapalu or its other personal representatives. Therefore, any unlawful and unauthorized reproduction, copying & pasting in whole or in part, or redistribution whether electronic or otherwise shall be punishable by law.
However, You are totally FREE to Share this Information with whomsoever You like as long as You Acknowledge and Give the full Attribution to the Author and this Weblog-page as Your source. Failure to which it shall constitute an Infringement of this Copyrighted Material!!!!!!
--------------------------------------------------------------------
ABOUT THE AUTHOR - DAVID KAPALU
David Kapalu is a Real Estate Investment Consultant who happens to be a duly Registered Member of the Zambian Institute of Estate Agents, an Internet Marketing Specialist, Motivational Speaker, Public Speaker, Life Coach, Crypto-Currency Investor, Enthusiast and Trainer. He is also a Holder of a Bachelor of Laws (LLB) Degree from the Zambian Open University. He is Someone who Understands his Subject so Well and Knows How to Distil and Reduce Complex Matters into Simple to Understand Matters.
Therefore, Call/WhatsApp/Sms him right now on +260 966 388525 and contract him for one on one real estate investment advice or legal advice!
He also stands ready to be booked for speaking engagements as well as offer free and paid radio and television interviews with any individual or organization interested in him sharing his deep insight and understanding of real estate matters as well as offer legal advice pertaining to land rights and ownership in the Zambian Market Landscape!
