When landlords and tenants clash, mediation is key
IolProperty - South Africa
Rental wars are mounting in Gauteng as tenants who can't afford to pay rent are facing off with their landlords now more than ever. This has translated to more work for the first black woman to chair the Gauteng Rental Housing Tribunal.
Former national consumer commissioner Mamodupi Mohlala-Mulaudzi admits that in the last three years she and her team have had to deal with a plethora of disheartening property matters as the economic downturn sees more individuals drowning in debt.
"Many people are being retrenched. We have seen a vast increase in the number of people who are rental defaulters, not because they do so intentionally, but because their financial circumstances have changed for the worse," Mohlala-Mulaudzi says.
Landlords, Maintain Your Investment Property
Harcourts - South Africa
It’s true that landlords are often the victims of reckless tenants who fail to care for their rental property. But it’s not uncommon for a landlord to neglect their property, and their duty to the tenant.
Whilst tenants are responsible to care for the property they rent, a landlord is responsible for “fair wear and tear” issues. A good rental management company should do regular maintenance inspections and report to the landlord on what needs attention.
Sometimes the issues may include serious maintenance concerns that need urgent attention. Sadly, many landlords fail to budget for general maintenance of their property and are reluctant to incur the costs. Here are some good reasons why a wise landlord would keep their property in good repair:
Here’s what it costs to evict a tenant
HomeTimes - South Africa
In evictions, the most important thing is to stop the financial bleeding. The amount of blood and pain on the landlord’s part, however, depends on factors such as a stubborn tenant who refuses to budge as well as the legal team hired.
“Some recalcitrant tenants vacate after receiving the first demand from an attorney to do so. Others put up a fight and remain in the property for longer,” says Willem le Roux, director at eviction specialist firm, Le Roux Attorneys. “The longer the fight to get the tenant out, the more expensive the eviction process. I’d say the ballpark figure is from R5,000 to R15,000.
Get bad tenants out as soon as possible – even if it means offering to write off some of the arrear rental.”
Has the property cycle peaked?
Rawson - South Africa
With all eyes on the economy post SONA and the budget speech, property industry professionals are facing some tough questions around the future of the South African property market. According to statistics from the latest FNB Property Barometer report, there has been a decrease in growth momentum over the last quarter, but is this a sure sign that we’re on the cusp of a market turnaround, or is there still growth on the cards for 2016?
“FNB’s house price index showed a year-on-year increase of 6.8% in January 2016, which is very similar to that of the previous four months, and certainly suggests that house price inflation is peaking,” says Schalk van der Merwe, franchisee at Rawson Properties Somerset West.“However, while we don’t expect growth to be as positive as it has been over the last few years, our predictions for 2016 are not as negative as many fear.”
Leave a comment: