1. Notice Periods • Notice must be in writing. • Notice must be a full calendar month. • No notice may be given before termination of the period stated in the Lease Agreement. • The same notice period rules apply to the landlord. • If the lease is broken, a R500.00 penalty fee will be charged to the tenant. • It is only by mutual agreement that the lease can be cancelled prior to the termination date. 2. Rental Payments and Rental Increases • The first month rental must be paid in full before occupation takes place. • The rental is due on the first day of every month, payable a month in advance. • Interest of 2% per month and an administration charge of R75.00 will be charged on overdue rental. • During the initial lease period there will be no rental increase unless there is an increase in Municipal rates or levies (if applicable) or increase in interest rates. • At the discretion of the landlord, rentals may be escalated on a yearly basis or at the end of the initial lease period. • A full calendar month notice must be given before a rental increase can be implemented. • There is a R75.00 charge for RD cheques. 3. Inspections • Prior to occupation, a joint inspection between the tenant and the inspector must be performed. This is to determine any defects or damage to the property. A written record of this inspection is taken, and is signed by the inspector and the tenant. A copy of the inspection is attached to the Lease Agreement. • If a joint inspection is not done, then the recorded inspection will be seen as free of any defects or damages. 4. Rental Deposits • The deposit is usually equivalent to one month rental and is payable before occupation. • The deposit is held in our trust account. • Once you have vacated the property and a final inspection has been conducted, you will be repaid your deposit - after deductions have been made for any repairs that may be required. • Before the deposit is refunded, we require proof from the Municipality that all electricity, water, and refuse removal charges have been paid. • The deposit may not be used as the last month's rental. • The deposit will be refunded within 7 days of expiration of the lease should there be no defects or amounts owing. • Should there be defects or amounts owning, your deposit will be refunded within 14 days of restoration of the property.
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