SA rental price growth breakdown good news for Gauteng landlords
According to the quarterly PayProp Rental Index, Gauteng is primed for rental growth recovery in the next two quarters.
Johette Smuts, Head of Data and Analytics at PayProp, says as with economic growth, inflation rates and interest rates, rental growth rates show cyclical growth trends.
“We’ve analysed data from our earliest indices in 2012, and it’s clear that the cycles last anything from 6 to 11 quarters. In Gauteng, the cycles have been seven quarters and six quarters in duration, respectively, indicating that there might be some good news for Gauteng soon.”
In contrast, Smuts says the Western Cape doesn’t historically show any clear peaks and troughs.
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Pam Golding Property group acquires online agency Eazi.com
The Pam Golding Property group has confirmed that it has acquired the online, digital estate agency, Eazi.com.
“Naturally, we keep a close watch on global real estate industry trends and it seems that internationally, residential real estate sales industries and businesses are being reorganised across at least two different and separate types of business models and customer offerings in specific market segments,” says Dr Andrew Golding, chief executive of the Pam Golding Property group.
“The first of these is the traditional high ‘touch’, high service, agent/client relationship model which is the cornerstone of the Pam Golding Property group and which will continue to be our core offering, but secondly, over the past two years, we have been following the advance of the online ‘hybrid’ estate agency model, which is a digital offering plus minimal agent ‘handholding’.”
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Private student accommodation a growing property opportunity in SA
At the forefront of the South African property industry, the forward-thinking developers of 106 Adderley have transformed the space into affordable living for students (StudentAtHome) and young professionals (ExecAtHome), in the most iconic street and in the heart of the Mother City.
“Comfort is important for all tenants and we pride ourselves on a level of comfort to suit all the guests’ needs, hence bridging the gap between being at home and the big wide world,” explains Emily Whitefield CEO of StudentAtHome and ExecAtHome.
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Are your tenants 'getting high' on your property? What to do
According to a study conducted in 2012 by Anti-Drug Alliance South Africa, 5.8% of their 57 809 national respondents reported using drugs on a daily basis, with ecstasy and cocaine being the most popular drugs next to marijuana.
While most news stories paint a very scary reality about the prevalence of drug abuse in South Africa, the truth is that there is actually very limited accurate data from which to draw these conclusions, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
“While the extent of our national drug problem is unclear, there remains the possibility, though small, that your tenant could be using drugs in the apartment you’ve leased to them. Harbouring criminal activity is a punishable crime, and landlords ought to seek legal advice when confronted with this situation and always be aware of the signs of drug-using tenants or run the risk of falling into trouble with the authorities,” warns Goslett.
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What are your rights when developers build next door?
Do property developers have a responsibility to let you know when they plan to develop next to your home? And can you object?
Each property carries a particular zoning, and each municipal area has specific bylaws which deal with the matter. It then starts with the existing zoning of the property. Each property is zoned in terms of its use and specific density and floor area ratio (FAR) which is already approved in terms of the existing zoning, says Steve van Wyk from Seeff Centurion.
For instance, if the property is already zoned in such a way that the developer is permitted to build five more storeys and on 95% of the land surface, they will not be obliged to give any notice to homeowners. If, however, the developer needs to apply for a rezoning to change the existing property rights, they must give notice in terms of the municipality's regulations. The respective regulations will also stipulate how the notice must be given, but it generally involves a notice that must be placed on the property concerned, and often an advertisement as well.
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