Why community schemes need to have rental management policies
If you are buying a property in an estate or a cluster home complex, you should ensure that the homeowners’ association (HOA) has a formal policy covering the letting of homes in the development as well as the obligations of those owners who decide to become landlords.
This is necessary to protect property values in such developments, says Gerhard Kotzé, MD of the RealNet estate agency group.
“Most tenants will be happy to comply with HOA rules and live in harmony with their neighbours, but there are always those that persistently break the rules - and count on it being difficult for the HOA to get their absentee landlords to take any action against them as long as they keep paying the rent,” says Kotzé.
In addition, he says non-resident owners have historically been less interested in the overall condition of the development, and less willing to invest any money in home maintenance and repairs.
Port Elizabeth's UDZ tax incentives aim to encourage redevelopment
Port Elizabeth’s Central area is ripe for the kind of inner city upgrading so visible in Cape Town and Durban.
But, despite the tax incentives available within South Africa’s official Urban Development Zones (UDZ), which include the ‘Friendly City’, it’s lagging behind its coastal counterparts when it comes to private sector take-up, says Cor Van Deventer, one of the directors of Greyvensteins Attorneys, a member of the national Phatshoane Henney Group of Associated Firms.
Referring to the government’s UDZ tax incentive scheme, which was introduced in 2003 to address urban decay in city centres throughout South Africa, Van Deventer says the concept has worked well in other countries and is slowly but surely gaining momentum locally, too. However, he adds, Port Elizabeth, despite its potential, seems to have lost the impetus evident during the refurbishment of places like Donkin Square a few years back.
Is it illegal for a municipality to disconnect your water?
Is it illegal for a municipality to disconnect water? Chantelle Gladwin-Wood, Partner, and Maike Gohl, Associate, from Schindlers Attorneys answers this question.
The South African Constitution guarantees a right of access to water (but not a right to water itself). What this means is that the South African Government (through its municipalities) is obliged to provide access of water to everyone in South Africa, where it has the financial and infrastructural capacity to do so.
The Constitutional Court has confirmed that the realisation of this right is dependent on available resources, which means that there is no absolute right of access to water, and no one can simply demand access to same unless a municipality has the means to provide it.
Wellness trend: modern developments and how we want to live
Recent years have seen a noticeable growth in public awareness of the importance of a healthy and balanced lifestyle.
“Bankers and CEOs are trading the 19th hole for water bottles and cycling shorts, techies are doing triathlons, and back-to-basics diets like Paleo are taking the world by storm,” says development expert and Chairman of the Rawson Property Group, Bill Rawson.
“It’s clear that people are tired of sacrificing health and wellness for status and wealth, and are striving to achieve the perfect balance of quality of life and success.”.
According to Rawson, this has impacted far more than just diet and exercise regimes, however, people are now expecting their built environments to support their lifestyle choices as well.
Gauteng buyers shaping Cape Town's property market
Gauteng residents are buying more properties in the Western Cape than any other market segment.
Contrary to popular belief, foreign investors are not the main purchasers of upmarket and luxury Cape properties anymore, as there is an ongoing influx of people from Gauteng relocating to Cape Town and its surrounds.
This is according to Denise Dogon, CEO of Dogon Group Properties, who says that an increasing number of Gauteng buyers are snapping up properties on the Atlantic Seaboard and nearby suburbs of the Mother City, a trend which is correlated by FNB’s Regional Migration Trends report, which shows that the Western Cape continues to far outperform the rest of the country when it comes to attracting property buyers from other provinces.
Buy-to-let investors, cash in on 'bleisure'
Have you ever added a few days of leisure time on to the end of a business trip? Or arrived at your international destination a little early to see the sights before diving into your work commitments?
“If so, you’re not alone, the mixing of business and leisure travel, now known as ‘bleisure’ travel, has become a widely recognised phenomenon, and is making an impact on far more than just the tourism industry,” says Bill Rawson, Chairman of the Rawson Property Group.
“The rise of ‘bleisure’ travel has created some exciting opportunities in the short-term rental space, and it’s very encouraging for property investors who know what to look out for and understand ‘bleisure’ travellers’ preferences and needs.”