9 things to know when renting a place to live It can feel daunting to sign your first lease agreement to rent a home, so be aware of the background legalities before signing on the dotted line. ARTICLE BY Monwabisi Mhlophe | DATE: 4 May 2023 | READ TIME: 2 MIN

Get up to speed on the legalities of being a (good) tenant with these important rights and obligations.

  • Your lease agreement should be signed by both the landlord and you as tenant. Landlords are required to give their tenants a copy of the signed agreement before they move in.
  • Tenants are entitled to have the lease agreement translated into their language of choice. Both agreements – the original and the translated document – must be signed.
  • Normally, the lease agreement isn’t longer than 24 months, but this can be negotiated.
  • A tenant must pay the rent on, or before, the date it is due – as stipulated in the lease agreement.
  • A full calendar month’s notice is required to terminate a lease agreement. This must be given in writing, and can be served by either the landlord or the tenant.
  • The deposit cannot exceed two months’ rent, unless otherwise agreed to by the tenant and the landlord.
  • Once the deposit, or a portion thereof, has been paid, an implied lease is considered to be in place.
  • The landlord must keep your deposit in an interest-bearing account for as long as you remain their tenant.
  • To increase the rental amount, an owner must give their tenant at least two months’ written notice.
Worried about your finances?

Send your retirement and other money-related questions to todayomc@oldmutual.com, or call 0860 60 60 60 to speak to an Old Mutual financial advisor.

By Monwabisi Mhlophe

Monwabisi is a writer focusing on financial topics that empower others.

Related articles