With Mauritius currently being an unregulated real estate environment, there are things that you need to be aware of and take note of when dealing with agents, and before entering into a lease agreement.
Ensure that the lease is comprehensive, fair and balanced. As a minimum it needs to cover:
Basic obligations of each party
Landlord's Obligations
Tenant's obligations
Agent Commission
In Mauritius, both the Landlord and Tenant are responsible for payment of commission for bringing the parties together and administrating the lease agreement.
The commission is usually equivalent to 1 (one) months rent PLUS VAT from each party.
It is to be noted that certain agencies do discount commissions, or only take commission from one party. If the agency being used to manage the rental of one of your biggest assets / find a home for you and your family is not a professional real estate company, charging their worth, you need to consider whether they are in a position to offer a professional service, or are just making sideline money. Is this their core business, and will the protect you the landlord if your tenant is delinquent, or you, the tenant, if the landlord doesn't meet their obligations? Do they even have permission from the landlord to rent the property out?
RE/MAX 24 is there every step of the way to manage and negotiate to keep both parties satisfied for the duration of the lease. We also offer a manged lease service and can ensure that any required repairs and maintenance matters are attended to promptly.
Though there is no formal credit checking process available in Mauritius, RE/MAX 24 does a check with the tenant's previous landlord, gets proof of their right to stay in Mauritius, and their capacity to pay the rent. As an extra service to the landlord, we are also equipped to do credit checks on clients from South Africa based on their credit record there.
RE/MAX 24 is committed to ensuring that your needs as a tenant or landlord are catered to. Contact us for professional service - partner with a global, trusted real estate brand.