Property 24/10 - 349

Guide to rezoning or subdividing your property
Homeowners who are looking to rezone their property for business use or subdivide to sell a portion of their land may be in for a longer ride than they initially expected according to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who says whether you are applying to rezone or subdivide a property, the application will need to follow a number of procedures before it is considered, which takes time.

“The application will need to be submitted to the relevant local authority and can take anywhere from two months to two years to be either approved or denied. Aside from the fact that the process is time-consuming, it is also a very arduous and complicated affair,” says Goslett.

Many South Africans struggling with financial literacy
Too many South Africans demonstrate a worrying lack of financial literacy, according to research recently released by the Human Sciences Research Council.

Grant Smee, Managing Director of Only Realty, says this is an especially serious problem in our tough economic climate.

According to the latest round of the South African Social Attitudes Survey, conducted in 2015, South Africans’ overall score on the Financial Literacy Index was 55 out of 100.

“The index measures the understanding we show of our personal finance: budgeting, planning, choosing financial products and a general grasp of financial issues,” says Smee.

What you need to know about home repossession
It is not a pleasant thought, but the fact is that many South African homeowners are struggling financially and worried about losing their homes.

“Even though there have not been any interest rate increases recently, the monthly repayment on most bonds is currently about 7% higher, in cash terms, than at the beginning of last year,” says Gerhard Kotzé, MD of the RealNet estate agency group.

“The repayments on credit cards, cars and other debts are also higher, and consumers are also paying more for food, water, electricity, transport, school fees and all forms of insurance,” says Kotzé.

Durban committed to building a resilient city for the future
Durban has joined the Rockefeller Foundation’s 100 Resilient Cities Programme and is committed to building a city that will withstand the changes of time, climate and society.

It aims to create a city that will survive and thrive in spite of environmental and societal changes. Debra Roberts, Durban’s Chief Resilience Officer, says: “The challenges that cities will face in the future require us to be innovative and to act differently in order to ensure more positive outcomes for the wellbeing of the city and its people. Being resilient is about making sure the foundations are in place to allow us to respond effectively to challenges and, where necessary, to fundamentally change how cities operate.”

Four step guide to safeguarding your commercial property investment
As a new or first-time commercial property owner, there are certain situations against which you would be wise to take precaution in order to keep your investment safe and profitable.

Most problems which arise can be “avoided or minimised with a little advance planning,” says Leon Breytenbach, National Manager of the Rawson Property Group’s commercial division.

Breytenbach deals with four of the more pertinent issues, offering some suggestions on how to lessen their impact:

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