Property 24/10 - 460

Where can I turn for help in a rental dispute?
The Rental Housing Tribunal exists to resolve disputes between landlords and tenants - and it’s free.

“The Rental Housing Tribunal is a Statutory body established in terms of Section 7 of the Rental Housing Act 50 of 1999 (as amended),” explains Pieter Janse van Rensburg of Just Property. “It is an independent body and its members are appointed by the MEC of each province, in terms of the Rental Housing Act 50/1999, to resolve disputes between landlords and tenants regarding residential properties.”

An alternative to a costly court case, these tribunals have the power to summon a landlord or tenant or any other relevant party for tribunal hearing. A ruling ordering a tenant or landlord to comply with any part of the Rental Housing Act and unfair practices regulations can be issued. According to Legalwise, “if a landlord or tenant fails to comply with a ruling of the Tribunal, she/he may be convicted of an offence and sentenced to pay a fine, be imprisoned, or both. A ruling of the Tribunal is deemed to be an order of the Magistrate’s Court and may be taken on review to the High Court”.

What you need to know about property and capital gains tax
You’ve sold an investment property at a great price and it calls for celebration.

Let’s say you bought it years ago in an up-and-coming area, kept it well maintained and managed to get the right price for it with the result that it has made you a sizeable return on investment. This is known as a capital gain and it is taxable, and will form part of your income tax.

So, before you pop the champagne, make sure you understand capital gains tax (CGT) and consult your tax specialist or accountant so that you know exactly what’s going into your pocket and what is owed to SARS.

Craig Hutchison CEO Engel & Völkers Southern Africa, explains that CGT is not as cut and dried as it seems and it is always best to chat to a professional in terms of what is owed to “The Receiver”, as this depends on a number of factors.

More SA parents are helping children buy property - and tax implications
Making that first foray into the property market can be a serious challenge for first-time buyers.

Often the younger generation finds themselves lacking the financing, experience and savvy to take the first step into the property market. Luckily, there is a growing trend of parental intervention that is better enabling their entry into the property sector.

Whether through the gift of a deposit, an interest-free loan, buying in a trust or by acting as surety for the loan, the older generation is showing that they care by making the younger generation’s property ownership aspirations a reality.

Mike Greeff, CEO of Greeff Christie’s International Real Estate, shares his thoughts on the trend of generational property collaboration.

Your complete guide to the Western Cape’s rental property market
It is not just the demand for residential accommodation that drives the Cape Town rental market, but added economic drivers such as tourism, conventions and events, corporate contracts and semigration.

Cape Town has just been voted among the best cities in the world to live in by a Deutsche Bank Survey, outranking major global cities like Rome, London and Paris, as well as Johannesburg, for offering a better quality of life.

Samuel Seeff, chairman of the Seeff Property Group, says despite the challenges experienced over the last year, Cape Town remains the standout as the city with the best lifestyle and service delivery, two of the biggest drivers of the demand for rental accommodation.

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