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LANDLORDS should issue eviction notices as soon as it is evident that tenants are struggling to pay instead of waiting until the situation is out of hand, a local estate agent has aised.

In a statement released this week Seeff Zimbabwe said once a tenant, mostly those renting executive properties, misses a month in his or her arrears, it becomes difficult for them to catch up in rentals.

“Despite the fact that most landlords want to hang on to their tenants, our aice is to give notice once we note that the tenant is struggling,” Seeff said.

“Many agree that it makes economic sense for a property to be always tenanted, but our major challenge has been that despite our aice, some landlords are reluctant to act on the aice, specifically on the current market trends.

“Empty properties represent financial expense and can easily cause trouble for their owners, and the neighbourhood, since they can quickly fall into disrepair and are an easy target for vandals and squatters,” said Seeff.

Seeff said owing to the biting socio-economic situation Zimbabwe has seen cases of tenants who are failing to pay their rentals rising by at least 20 percent.

According to the company, this includes both residential and commercial clients.

“The rental property market has remained unusually slow for this time of the year,” Seeff said.

“The major challenge has been the liquidity crises that the country is passing through. This has seen activity in the less expensive property only. The market is also experiencing high voids in both residential and commercial properties, with rentals still continuing with the downward trend, especially after the fact that rentals have not gone up in the last 12 to 24 months.

Source : New Zimbabwe

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