The A-B-C of rental deposits
Possibly one of the biggest sources of contention between landlords and tenants surrounds the rental deposit.
“Most tenants rely on getting their rental deposits back when moving so that they can use it to pay a deposit on their new home. Having it withheld, or even having large amounts deducted, can lead to a lot of distress,” explains Bruce Swain, CEO of Leapfrog Property Group.
What to do when paying a deposit:
1. Do a pre-occupation inspection
According to the Rental Housing Act, landlords (or the managing agents representing them) are permitted to request a tenant to pay a deposit before taking occupation of a property, although the Act does not provide guidance as to the amount.
Great things in store for KZN’s booming property market in 2018
Just over a month into 2018 there is already there is plenty of good news for the KwaZulu-Natal property market. This is according to Tim Johnson, Sales Director/Licensee of Seeff Dolphin Coast, who says the election of Cyril Ramaphosa as ANC president in December boosted the rand and in some way lifted all-round confidence levels.
In December alone the rand gained more than 10% against the US dollar, strengthening to levels that were last seen back in 2015.
Many economists believe that the rallying of the rand in the last few weeks of 2017 could help keep inflation in check over the first few months of 2018. It might even lead the Monetary Policy Committee to ease up on interest rates later on in the year.
How HOAs can keep the 'parking peace'
While most homes in cluster complexes, estates and other gated communities come with at least one garage or carport, residents would often like additional permanent parking or storage areas for things like trailers, bikes, boats and caravans.
“The trouble is that there is usually not enough space to create an extra parking bay or storage unit for every household - and that a scramble for the existing spaces can cause conflict between homeowners,” says Gerhard Kotzé, MD of the RealNet estate agency group, which provides professional property management and letting services as well as property sales expertise.
“However, the homeowners’ association (HOA) can prevent this by passing a resolution not to allow anyone to have ‘exclusive use’ of any limited amenity without payment of rent to the HOA, which can be used to help keep everyone’s monthly assessments or levies down.”
New developments in CT's Woodstock drawing buyers and investors
Transformations in central Cape Town during the last decade precipitated a spike in demand for residential property in the area, which in turn has fuelled the regeneration of previously overlooked suburbs like Woodstock, transforming them into vibrant mixed-use nodes.
“The impact of the floundering economy, political uncertainty and deepening water crisis has been felt, but developer and investor appetite in the area remains strong,” says Chad Shapiro, Senior Commercial Broker for Lew Geffen Sotheby’s International Realty in the CBD, City Bowl and on the Atlantic Seaboard.
“We are currently working with local and international retailers and commercial companies looking to strategically place themselves in the Woodstock/Salt River/Observatory precinct to take advantage the area’s distinct benefits, all of which are sure to pique consumer interest.”
Booming Midrand a commercial property investment hotspot
Approximately halfway between Johannesburg and Pretoria, Midrand was established in 1981 and forms part of the City of Johannesburg Metropolitan Municipality. It has become one of the major business hubs in the country, with major pharmaceutical, textile, telecommunication and motoring giants situated within its boundaries.
Chris Renecle, MD of Renprop, says that Midrand’s appeal for business and industrial space is primarily due to its prime location between Johannesburg and Pretoria, as well as its easy access to major road networks.
Midrand’s commercial property is characterised by various usage zones, thereby catering to a vast range of industries.