Property 24/10 - 365

Diarise Decorex Joburg and tickets up for grabs
Centred around the theme, ‘Make your space your living dream’, Decorex Joburg is set to showcase the city’s décor talent and trendsetting designs at the Gallagher Convention Centre from 9 to 13 August.

The exhibition offers exciting new features to meet the diverse tastes of this vibrant city, from nuanced tones to overwhelming statement pieces. Here’s what to expect…

City of Cape Town plans to provide more affordable housing options
Pam Golding Properties welcomes the City of Cape Town’s plans to provide affordable housing opportunities that will help to create a more inclusive city.

“Affordable housing is critical for the realisation of our vision of Cape Town as a thriving, integrated and cosmopolitan hub that is on a par with global cities such as New York and Sydney,” says Richard Day, Pam Golding Properties National General Manager and Cape Regional MD.

Day says the city’s commitment to providing these housing opportunities follows international trends seen in cities such as London and the Netherlands, where local authorities have introduced innovative plans to ensure more communities are able to afford homes closer to their work and other amenities.

Five disruptors in the commercial real estate market
Disruptors in the real estate market may be described as new developments, trends or technologies which alter the way business is done and understood in the existing market according to Leon Breytenbach, national manager of the Rawson Property Group’s commercial division, who says the commercial property market has undergone some great changes in the past, and there could be major changes in the pipeline due to the occurrence of constant technological advancements.

Breytenbach discusses a few of these disruptions in order to give better understanding of how they are working and how they can be capitalised on:

Dos and don’ts for trustees managing sectional title schemes
Being elected as a trustee of a body corporate is often not welcomed by those nominated as it is seen as an onerous and time-consuming job according to Mandi Hanekom, operations manager of the sectional title finance company Propell, who says the few who do take up these positions should be commended as they are taking on the management of something that could be seen as a multimillion-rand business and a huge responsibility.

“The members of the body corporate have confidence in the trustees’ integrity and ability to manage their scheme in order to have elected them to the position of trustee, but what has to be remembered is that the same members who elected the trustees can also dismiss them, by way of an ordinary resolution by members taken at a general meeting, if the job is not done properly,” says Hanekom.

Commercial property: The rise of tenant representatives
Tenant representation in the commercial sector has become standard practice in many overseas countries, and has now started to gain traction in South Africa as there is an increase in the complexities of negotiating a commercial lease according to Greg Huntingford, the CEO of Spire Property Management, who says Spire anticipates that tenant representation will continue to grow in popularity and will move into the mainstream of commercial real estate South Africa as people looking for space realise they need a property consultant to best represent their interests.

“Already we are seeing more and more commercial real estate (CRE) tenants in SA appointing a CRE representative to protect their interests when negotiating the details of a lease agreement,” says Huntingford.

Before you sign an offer to purchase, check the property's title deed
Anyone who purchases a home will need to have the title deed transferred into their name as proof that they own the property. The document acts as proof of ownership in terms of the Deeds Registries Act 47 of 1937, with each property required to have its own separate deed. The document contains all the necessary details and important information about the property such as a comprehensive description and exact size.

Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett, says the title deed also provides vital insight into to a property’s history, registered owner and previous owners, the purchase price paid by the current owner and some other information elements such as the rules and restrictions surrounding the property.

“By reading the title deed on a property, a prospective buyer will also know if there are any conditions applicable to the zoning, use or sale of the land, along with all real rights registered in respect of the property,” says Goslett.

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