Rentmaster - your experiences

senyetse

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Mar 26, 2013
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I'm looking at buying an investment property and I am thinking of using Rentmaster (http://rentmaster.co.za). It seems to be a good deal especially for peace of mind - especially the guaranteed rental option.

What are your experiences with them? Would you recommend them?
 

broloks

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May 23, 2011
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I have been using them for just short of a year and I would recommend them, although I have not yet needed to claim. Their rental agreements are good and the lessee must sign a debit order. The first month my tenant phoned to say that the rent was not deducted from his account, I checked mine and the rent was there. So they do pay you, regardless if the money has been paid by the lessee.
 

F1 Fan

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If they are good then this is a no brainer. 5% per month is nothing.
 

naeem

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*bump*

sorry for the necro


Are people still happy with Rentmaster? Looking at buying a property with 3 dwellings, its already tenanted and prefer to have a collection agency like rentmaster do this (i already have my maintenance guys to fix things if required)


2 things worry me:

1) Their website http://www.rentmaster.co.za redirects to http://www.rentmaster.co.za/wp/
but if you type in http://rentmaster.co.za, it brings up some knitting blog (wtf right?!)

2) site is about 3 years outdated.


Will call them on monday but would be interesting to hear more recent experiences from MyBB'ers?
 

F1 Fan

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Just signed up with them for a new tenant.

Haven't heard any bad things about them. My one concern is the fact that they hold the deposit, and hope there are no issues when they have to pay it back to the tenant.
 
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saturnz

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Just signed up with them for a new tenant.

Haven't heard any bad things about them. My one concern is the fact that they hold the deposit, and hope there are no issues when they have to pay it back to the tenant.
the insurance product I'm using has no deposit

Although I haven't had issues with my own provider, it should also be stated that these providers can only be measured on how they react if your tenant defaults.

Most of those who have used agents will testify that agents are the first to run when a tenant defaults.
 
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F1 Fan

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the insurance product I'm using has no deposit

Although I haven't had issues with my own provider, it should also be stated that these providers can only be measured on how they react if your tenant defaults.

Most of those who have used agents will testify that agents are the first to run when a tenant defaults.
Ooba Rent Protect?
 

F1 Fan

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rentshield
Your reason for using rent shield over rent master? Have you ever had to claim? My only issue with a product like rentshield/rent protector is that you have claim, so that most likely goes on your record as an insurance claim.
 

saturnz

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Your reason for using rent shield over rent master? Have you ever had to claim? My only issue with a product like rentshield/rent protector is that you have claim, so that most likely goes on your record as an insurance claim.
I only insure when I do not see a cost effective way of mitigating my risks. So I would gladly pay the cost, of having an insurance claim on my record as a result of defaulting tenant, for the benefit of being protected against a defaulting tenant.

I have been with renthsield for just over two years and I preferred them for two reasons.

First they actually assisted me before I signed up with them, I thought that was a nice touch.

Second and most importantly to me, no security deposit required. This is a significant point since I no longer have to ask a tenant to pay me over R30k upfront, they can just commence rental payments.
 

F1 Fan

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I only insure when I do not see a cost effective way of mitigating my risks. So I would gladly pay the cost, of having an insurance claim on my record as a result of defaulting tenant, for the benefit of being protected against a defaulting tenant.

I have been with renthsield for just over two years and I preferred them for two reasons.

First they actually assisted me before I signed up with them, I thought that was a nice touch.

Second and most importantly to me, no security deposit required. This is a significant point since I no longer have to ask a tenant to pay me over R30k upfront, they can just commence rental payments.
Fair enough. Rent master however does not require a claim, therefore it will not go on your record. The downside is obviously the deposit that needs to be paid.
 

StrontiumDog

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Fair enough. Rent master however does not require a claim, therefore it will not go on your record. The downside is obviously the deposit that needs to be paid.
Surely in any event, a claim on a product like RentShield doesn't affect your car premiums with a short term insurance company like Sanlam?

I might use RentShield or RentMaster, I've got different agents looking for a new tenant for me and I'm opting for RentMaster for the one potential tenant and RentShield for the other couple of potentials. Reason for keeping both options open is just how my place was advertised (i.e. no deposit vs 2 month deposit). And using one of these products is NB for me at this point as the risk is on them (RS or RM) if they don't do the vetting properly! Can't trust some agents to vett thoroughly :mad:
 

Freshy-ZN

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Those using Rentmaster or rentshield etc. are you still happy with their service?
 

Jules81

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Apr 2, 2019
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Would not recommend them. I contacted Rentmaster as I thought the products they advertised sounded like a great tool for landlords. I had a new tenant and wanted his contract to go through them as according to them I would then be guaranteed to receive my rent on the 1st of each month. We filled in all the forms and contracts and they sent me brochures with their services, which included the guarantee of your rent even if the tenant defaults, as well as credit checks for the tenant.
After sending through the tenants paperwork they let me know that they would only accept the tenant on their standard guarantee, which guarantees the rent for one month instead of three. I accepted.
Before the tenant moved in I emailed and phoned twice to make sure the debit order was in place, which they assured me it was.
Then on the day the tenant was due to move in I requested a copy of the credit check done on the tenant as it was needed for the registration of the estate where the property is situated. I was then told that they couldn't find it as the lady who helped me was already on leave. As it was the 31st of December I allowed the tenant to move in as he had already signed the contract and paid the deposit.
After the holidays I phoned Rentmaster again and was told the credit check was never done, as I should have requested it specifically. Even though it is advertised as part of the package.
I then emailed and phoned them twice to make sure that the debit order was in place, which they assured me it was.
The first month no problem - rent received in my account, although not on the first day of the month as they had promised.
The next month I received an email at the end of the month telling me that they won't be paying over the rent as the tenant had not paid it. I contacted them - surely this was why I was paying them commission, and their selling point was that they guarantee your rent???
I was then told that the tenant was already two months behind on his rent. The first month they paid over his deposit as rent, and did not even let me know that he had defaulted.
The debit order was not in place as was promised, and they contacted the tenant to do an EFT which he never did. They did not let me know any of this.
At this stage I am stuck with a tenant two months behind, with no deposit (as it was paid over to me in lieu of rent). I now have to give the tenant another 20 days notice before cancelling his lease, putting me three months behind in rent. And then I have to hope he will move out, otherwise there will be further legal costs.
If the credit check was done in the first place, and the debit order was in place from the start (all supposed to have been done by Rentmaster) I would not have been in this predicament.
If I had vetted the tenant myself and rather have arranged rental payment with the tenant myself instead of trusting their processes, I would have known that there was a problem far sooner and would have been able to have it corrected. Also apparently they only know whether a debit order was successful by the 10th of the month. That doesn't give a landlord enough time to sent a letter of breach with the required 20 business day's notice to the tenant and to get them out before the end of the month, meaning you lose at least a months rent even if you do manage to get rid of the tenant.
 
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