How and where to pay your rent
We do not accept any rent payments at our office – your rent needs to be made directly into our bank account. There are a number of options available, e.g. internet banking, EFT, cash deposits over the counter at any ABSA bank, cardless cash deposits at an ABSA ATM.
When is your rent payable?
Your rent is payable on or before the 1st day of each month, meaning that it needs to be received in our bank account by that day. We bank with ABSA - if you bank with a different bank you need to take into consideration that payments between banks may take a day or two, so please factor that into your planning when making your rent payment or setting up a regular stop order. Also, cheques take up to 5 business days to clear – if you are paying by cheque please note that you have to pay early enough to ensure that the cheque has cleared by the 1st of the month.
Some methods of payment incur additional bank costs
If you are paying your rent electronically – e.g. internet banking or EFT – there are usually no costs involved in the transaction. Payments by other means, e.g. cardless cash deposit at an ABSA ATM, and cash payments at an ABSA branch, incur additional bank charges and in terms of your lease agreement you are responsible for these costs and you will be invoiced accordingly. Although convenient, paying by any other method than EFT can be expensive as the bank chanrges are calculated as R6.50 + 1.05% of the payment amount.
What happens if your rent is not received on time
To find out more about our processes and procedures for late payment of rent and other amounts, please click here.