MAIN IMAGE: Brent Geddes, CEO and Co-Founder of Geddes Capital
Staff Writer
In a first for the South African property market lease funding is now available. If you’re waiting on rental payments but short on cash, lease funding may be for you.
Cape Town based business financing company, Geddes Capital, has expanded their services to include lease funding. This service will enable South African landlords and property owners to access future rental payments to seize current opportunities with more cash on hand.
Lease funding is a simple and fast way to get a lump sum of money from your rental income that can be used to expand a property portfolio or capitalise on a business opportunity. In short, one gets an advance on future rental payments, and the financing company collects the rent directly from the tenant, on behalf of the landlord or property owners.
This makes the job as a landlord easier and gives him instant access to cash.
“Our mission at Geddes Capital is to help South African property investors to access the cash they need to build the future they deserve. Lease Funding is our latest innovative offer that will give businesses access to future cash, today,” says Brent Geddes, CEO and Co-Founder of Geddes Capital.
According to Geddes, there are numerous benefits to lease funding.
“Firstly, lease funding frees up your capital. It‘s an easy way to obtain rental income in advance. It also ensures that the landlord or property owner don’t miss out. The perfect property or investment opportunity won’t wait around. That’s why this service is offered – so one can embrace current opportunities that will lead to a more prosperous future.
“This financing opportunity also saves a lot of time and labour. The Geddes team does all the following up and chasing of rental payments, bad debts aside, so you can focus on growing your property portfolio or business.
“It also gives you immediate cash for repairs and maintenance to your property as this is something that is a continuous expense.”
After a once-off initiation fee, the cost of lease funding varies depending on the total rental due, as well as the period over which it is due. The team at Geddes will provide a price that works best for each specific business and situation.
