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This is what you can expect from the property market in South Africa this year

1/2/2020

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Following another year of tepid economic growth, and with the latest round of load shedding further dampening the economy and expected to result in a Moody’s downgrade, where does that leave South Africa’s residential property market?

With household finances under pressure for the foreseeable future, the focus is likely to remain on affordability, value-for-money and cost saving – for example transport and utilities – for the bulk of the market, said Dr Andrew Golding, chief executive of the Pam Golding Property group.

Dr Golding outlines the group’s vision for 2020:
While there will still be pockets of activity and price growth, the performance of the national housing market is likely to remain subdued.

Yet despite the knock-on effect of the drastic load shedding measures, there remain a number of positive factors underpinning the housing market, namely the demographic dividend of a young population – including first-time buyers – fuelling property purchases and rentals, relatively low interest rates, affordability returning as prices correct, and a strong appetite for lending from increasingly competitive financial institutions – with ooba’s loan to value rising to 88.4% in October which is the highest level since the data series began in 2007.

However, this will not translate into a meaningful recovery until economic growth and sentiment strengthens, and there is an improvement in incomes and employment opportunities.

Tourism boost
One of the factors we believe could prove a boost for South Africa’s economy and ultimately even provide positives for the property market is tourism.

Our beautiful country offers breathtakingly scenic landscapes and spectacular coastlines, vibrant cities and rural places of interest.

With a reduced value of the rand, we could attract a significant increase in the number of visitors which would help build entrepreneurial attractions, accommodation and other opportunities within the tourism industry.

In KwaZulu-Natal, the introduction of direct flights between London and Durban by British Airways a year go has resulted in an 11% increase in international passenger numbers in the year to September 2019 compared to the same period last year, bolstering King Shaka International Airport’s status as South Africa’s fastest growing international air gateway.

Introduced in December 2019, and with a flight time of just 14.5 hours, the new direct flight between New York in the US and Cape Town augurs well for tourism and foreign direct investment – as the US has a huge luxury travel market – and according to Wesgro, has already resulted in an increase in forward bookings by US tourists to Cape Town for the summer season.

Coupled with this, the Cape Town Rugby Sevens in the Mother City is to be eclipsed by the World Rugby HSBC Sevens Series in 2022, which is also hosted at the Cape Town Stadium, while England supporters will flock to our country’s shores during the cricket test series versus the Proteas.
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​​Further to this the 2021 British and Irish Lions tour will attract additional visitors to South Africa.

Tourism is recovering after the drought and aided by an easing of visa restrictions and piloting of an electronic visa application system coupled with increasing numbers of direct flights, will bring more money, translating into economic growth and jobs, and more prospective buyers to the country.

It is hoped that economic growth will be slightly stronger this year, despite risks to the downside.

Supply is slowing in response to weak demand, with fewer new houses and sellers keeping or removing homes from the market.

Demand seems to be slightly stronger, especially in the price band below R2 million, so the market could edge back into equilibrium and then we will start to see signs of an improvement in the market in the new year.

Young buyers
Young buyers remain a key positive for South Africa’s housing market, ensuring a steady supply of new homeowners as we have a ‘youth bulge’, with many eager to gain a foothold on the property ladder.

Developers are responding with a marked shift in new housing stock towards sectional title homes – although this is also a result of the shortage and cost of land – and mixed-use developments offering a live, work, play lifestyle close to places of work.

The recent introduction of micro-units in Cape Town CBD and surrounds is also a response to strong demand from first-time buyers who want a lock-up-and-go lifestyle and to enjoy downtown living.

This has been a key driver behind the shift in housing in South Africa from freehold suburban homes to mixed-use precincts and developments, and the rise of shared, third spaces.

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Luxury residential high-rise being developed - Waterfall City

9/21/2019

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Residential property developer Tricolt and JSE-listed real estate investment trust Attacq have started building the Ellipse luxury residential high-rise, which will comprise four buildings in the Waterfall City precinct, in Midrand. Schalk Burger has the story.
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The first of three phases of the mixed-use luxury development involves building two of the four high-rise buildings, and has seen 80% of the units already sold, says Tricolt CEO Tim Kloeck.

The first two towers, called Newton and Kepler, will be 10 and 11 storeys high and will be completed during the first half of 2021. The Cassini and Galileo towers will comprise the second and third development phases.

The secure precinct will have active and relaxation parks, exercise and relaxation swimming pools, a gym and an outdoor running track. It is within walking distance of the Netcare Waterfall City hospital, the Mall of Africa and Waterfall City amenities, including schools, crèches and public transport.
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What Are a South African Tenants Rights?

9/17/2019

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PictureWith kind acknowledgement to https://www.evictionlawyers.co.za
Becoming a tenant of your new place can be an exciting and also stressful time, moving all your property, travelling to a new area, leaving your old home behind, saying good bye to neighbours, friends and relatives so why compound that with further legal issues. Tenants want to know they are secure for the agreed upon period and aren’t being exploited, make sure you and your prospective landlord are fully aware of what a tenants right are before deciding on a lease agreement.


Why should a land lord know what a tenant’s rights are?
It is imperative for both a Landlord and the Tenant to know the Tenant’s rights in the South African context and not just the Landlord’s rights and obligations, because:
The Landlord will know when a Tenant is overstepping his/her rights. This may help speed up the eviction process.
Such knowledge may stop a Landlord from abusing a Tenant’s rights unknowingly – a fact that may negatively affect any successful eviction.
The Landlord can hold the Tenant to his/her obligations with conviction.

FAQ’s about South African tenant rights
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1. What are a Tenant’s rights and obligations when a lease expires and the Landlord allows the Tenant to carry on staying on the South African property?
In general, a Landlord, as well as a Tenant, both have the right to give notice to each other, to cancel any lease agreement between them.
Both the Landlord and Tenant must give at least one month notice to the other party when wanting to cancel the lease. (Rental Housing Act 1999)
The Consumer Protection Act (CPA) gives additional rights to the Tenant by allowing them to cancel the lease provided 20 business days notice is given. (Note: this does not apply to some juristic persons)
HOWEVER should the above additional rights of the Tenant be exercised, the Tenant may be obligated to pay a “reasonable” cancellation fee – Up to 3 months rental.
2. When can a Tenant’s right to occupy a home be affected?
A Tenant continues to have the right to occupy his/her home, as long as he/she complies with the obligations stated in the lease agreement.
3. Can the Landlord do anything to the property without the knowledge of the Tenant?
No, it is the Tenant’s right to be consulted on issues affecting the Tenant. For example Repairs, renovations, lock changes etc.
4. Can the Tenant’s right to remain in a property be cancelled if the Landlord is selling that property?
No, the Tenant has the right to stay in the property until the lease expires whether there is a change in ownership or not (provided the Tenant’s obligations as per the lease are met).
5. Is a Tenant obligated to use the rental property in a certain way?
Yes, the Tenant can only use the leased premises for the purposes as stated in the lease agreement.
6. Is it a Tenant’s right to sublet the leased premises?
No, the Tenant must have the permission from the Landlord.
7. Can a Tenant make alterations to the property without consent from the Landlord?
No.

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How to Choose the Best Tenant for Your Rental

9/16/2019

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There are good tenants, and there are bad tenants. While no screening method is fool-proof, there are certain factors you should look at that will give you a better chance of finding a great tenant for your rental. Following these seven tips can help you make the best choice. 
Follow the Law
Landlords must treat all prospective tenants equally. There is a law, known as the
The Rental Housing Act, which is designed to prevent discrimination against certain classes of people in any activity related to housing. In short, you cannot discriminate based on:
Race or color
National origin
Religion
Sex
Familial status (families with children)
Disability
Choose a Tenant With Good Credit
You want to look for a tenant who is financially responsible. If they are responsible with paying their bills, there is a strong chance they will pay their rent on time and be responsible with your apartment. Getting a credit check has a fee, and sometimes landlords ask their applicants to pay the credit check fee as well. Checking a tenant's finances is a two-step process:
Verify Income,
Ideally, you will want to find a tenant whose monthly income is at least three times the monthly rent.
Ask for copies of their pay stubs.
Call their employer directly to confirm their employment, length of employment, attendance record and monthly earnings.
Run a Credit Check:
Do they have a history of paying their bills on time?
Check their income to debt ratio.
Even if their income is three times the monthly rent, you have to factor in how much debt they have.
Look for prior evictions, civil judgments against or bankruptcies.
Perform a Criminal Background Check
Criminal information is public record, and can be viewed at various court houses. This check will turn up both serious and minor offenses. You will need the tenant’s name and date of birth to run one. Keep in mind that those with a criminal record may try to falsify this information, so make sure to check a valid ID to verify that they are who they say they are.
As a landlord, you may have an easier time justifying your rejection of a prospective tenant with a drug or violent crime conviction than you would rejecting a tenant with 50 speeding tickets. This is because drugs or violent crimes can jeopardize the safety of other tenants.
Doing a criminal check yourself can be very time-consuming It may be best to hire a reputable letting agent to perform this check for you. It can often be combined with the credit check.
Look at the Tenant's Rental History
If possible, you should talk to at least two of the tenant's previous landlords. This is because if the applicant was a problem tenant, the current landlord may want to get the tenant off their hands and may not be as truthful. 
Questions You Should Ask:
Did the tenant pay their rent on time?
What was the reason for the move? Was the tenant evicted for non-payment of rent or for breaking the landlord’s rules?
Did the tenant give 30 days' notice prior to moving?
How did they keep their apartment? Were they clean?
Did they cause any damage to the apartment other than normal wear and tear?
Were they respectful of their neighbors?
Did they complain often?
Of course, if the applicant is a first-time renter, a student or a recent graduate, they may not have a rental history. In this case, you can require a co-signer for the lease.
Choose a Tenant Who Is Stable
On their application form, look at the tenant's prior addresses and employment history. Do they move or switch jobs often? If they move often, this pattern is likely to continue and you will soon have a vacancy on your hands again. If they have not shown consistent employment, they may not be able to afford the apartment in three months and you will be left starting your tenant search from scratch or dealing with an eviction.
Maximum of Two People Per Bedroom
The more people per apartment, the more noise and the greater the wear and tear on your investment. A rule of a maximum of two people per bedroom is considered reasonable, with the following exceptions:
Refusing to rent to two adults with an infant for a one bedroom could be considered discriminatory, but refusing to rent to two adults with a teenager for a one bedroom would be considered reasonable.
You can give a maximum number of people per apartment, but you cannot give a maximum number of children per apartment.
Trust Your Instincts
You can do all the screening in the world, but sometimes your instincts are the best judge of character. You may feel that there is something off about a tenant who otherwise looks good on paper, later to find that the tenant has been using someone else's identity to apply for the apartment. Trust your screening, but do not ignore your gut.

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Top Tips for Landlords

9/16/2019

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Whether you’re a new landlord or are an experienced real estate investor, it’s still possible to make mistakes when renting your property. Being a landlord can be just as challenging as managing any other business. We spoke to the experts who shared their best landlord tips to help guide you along the way.

Use High-Quality Pictures to Advertise Your Rental Properties
High-quality pictures can lead to a significant boost in interest from prospective renters. After all, more than one-third of marketers say visual images are the most critical form of content for their businesses. Also, viewing pictures is how most guests shop the various rental websites, compare properties, and select the one they want to book.
Consider hiring a professional photographer to snap clear, well-lit, and high-resolution stills of each room. Include close-up shots that showcase unique features, such as a claw-footed bathtub or local artwork, too. Images of your property’s green space, gardens, and any standout views should also be shared. The photos you post should be clear, clutter-free, well-lit, and reflect the personality of your space. Conversely, property owners are wise to avoid grainy photos, showing dark or unkempt spaces, photos of mass-produced artwork, or any images that could make their rental look sloppy or outdated.

Follow Tenant Screening Laws
When running tenant credit and background checks never share the data with any outside parties, including the tenant applicant. A landlord that shares the report directly with the applicant could be violating the FCRA (Fair Credit Reporting Act) and creating unnecessary liability for their business. The tenant applicant has the right to view a copy of their report but they should retrieve that through the original Consumer Reporting Agency (CRA) that generated the report.

Focus on Long-Term Needs When Renovating
Landlords should always focus on the long term and shouldn’t be afraid to undertake renovations that may take say, five years, in order to pay for themselves. Subway tile, as opposed to old-fashioned tile, in bathrooms will almost always score more rent, as will dishwashers and in-unit washers and dryers, especially in New York City. Landlords should ensure that each bedroom has a sizable closet and should install soundproof windows in units that face busy streets.
When it comes to kitchens, stainless steel appliances as well as granite or quartz countertops will garner more rent than their out-of-date alternatives. Lastly, landlords should put laundry in the building (if not in-unit) and provide storage space for residents either in the units or in the building, if not both.

Be Transparent About Rental Rates
Be non-predatory—provide transparent pricing when it comes to setting rental rates. By being transparent with your rental rates, your tenants will understand the value of what they are renting. They can see how much of their monthly rent is going to taxes, HOA, and other fees. Make your lease agreement generally transparent and easy to understand.

Attend Promptly to Your Tenants Property-Related Concerns
One way to keep your tenants happy is to ensure that you attend to their property-related concerns as soon as you can. For instance, if they report a damage on a property, try to have it repaired immediately. When a tenant knows you aren’t just a money-maker and that you actually care about them having a comfortable stay in your property, they, in turn, will be more appreciative of your effort. Also, they will be more understanding when certain repairs take time to get fixed.

Set a Realistic Pricing Strategy by Conducting a Comparable Rental Analysis
The largest cost for owners is vacancy loss. This is where you’re not earning rental income. If you’ve never rented out the home before, do some research to find a price point that’s a balance between what you want for the property and want the renters would pay. This is called a comparable rental analysis.
To do this, find properties that are of similar size, number of bedrooms and bathrooms, and amenities. Record these features and their rental price to find the average pricing in your area. From there, you’ll need to set your property pricing strategy. If your property features recent upgrades or additions, list your property on the upper range of the market. If it lacks features, set a more aggressive price at the lower range of the market.

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A BASIC GUIDE TO RENTING A HOME IN SOUTH AFRICA

9/16/2019

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For many young professionals, renting a house or an apartment is one of the first big steps in their lives. Of course, it can be a lengthy and complicated process: from searching for and viewing properties, to signing lease agreements and other documents. It’s always best to conduct thorough research and ensure all the legal boxes are ticked.

Good news for prospective tenants is that the law protects their rights in the form of The Rental Housing Act, which regulates the relationship between landlords (people who own property) and their tenants (people who rent property). The law also gives tenants a place to turn to, if they are mistreated by their landlords, known as the Rental Housing Tribunal.
In this basic guide, we take a closer a look at some of the most important aspects tenants need to bear in mind when renting a home in South Africa.
Ask for a Lease Agreement in Writing.
While verbal agreements are legally binding, it’s always best to obtain a lease agreement in writing, which is then signed by everyone involved. It is recommended to ask for a written agreement that clearly sets out all the terms and conditions as well as the rights and responsibilities of the tenant and the landlord. Things that have to be agreed on include what property will be rented, the rent amount, additional charges, increases, payment dates, the manner of payment, etc.
The law says that if a tenant requests a written lease, the landlord must provide one. A rental contract usually contains standard clauses, and while the law does protect the tenant from unfair or illegal conditions in the agreement, it’s smart to read the document thoroughly before signing.
You’ll probably have to pay a deposit.
If you have rented a home before, you know that you’ll probably be asked to pay a deposit of 1 to 2 months of rent before moving into the property. The deposit covers the landlord for the repairs that are necessary to fix damage to the property when the tenant moves out. Repair costs are then deducted from the deposit and the balance paid back to the tenant within 14 days of repair. If the tenant doesn’t attend the outgoing inspection, the balance only has to be paid back within 21 days.
Keep in mind that the landlord is required to keep the deposit in an interest-bearing account for the duration of the lease. When the agreement comes to an end, and the tenant hasn’t caused any damage, the landlord must pay back the deposit (in full with the accrued interest) within 7 days of the lease agreement ending.
Remember to inspect the property before moving in and when moving out.
Doing an incoming and outgoing inspection of the property is very important! Aside from being a legal requirement, it is a good idea to create a record of any existing damage to the property before moving in, and a record of new defects when moving out.
Both inspections must be carried out together by the landlord and the tenant so that everyone is on the same page. If the tenant doesn’t show up for either inspection appointment, he or she cant challenge the repair costs that will be deducted from the deposit when moving out. If the landlord is a no-show, he or she can’t claim repairs and deduct the cost from the deposit.
It’s essential to walk through the property and document every flaw using a checklist and by taking pictures. The document must be signed by the landlord and the tenant.
Know what maintenance is your responsibility.
Tenants usually want a neat property to live in, while landlords wish their property to be well looked after. When it comes to maintenance and repairs, it is important to know who is responsible. The landlord must ensure that the property is safe and habitable. If a tenant informs the landlord that maintenance repairs are necessary, the repairs must be done within 14 days of being asked unless otherwise agreed with the tenant.
As a rule of thumb, the landlord is responsible for fair wear and tear as well as maintenance of structural fixtures and fittings such as fixing roof leaks, replacing a geyser, or fixing plumbing and electrical problems. Of course, that’s to say, if the damage wasn’t deliberately or negligently caused by the tenant,  in which case it is the tenant’s responsibility.
The tenant, on the other hand, is responsible for keeping the property clean, tidy and safe and must reasonably use electric and plumbing systems. The tenant is usually responsible for normal wear and will need to replace light globes, taps, locks, handles, broken windows, and maintain the garden.
You Can’t Withhold Rent if you are Unhappy
If the landlord doesn’t play fair and isn’t sticking to the agreed terms and conditions, withholding rent might seem like the only option and perhaps even fair. But, sometimes tenants use this as an excuse because they can’t pay their monthly rent. Even if the landlord is in the wrong and the tenant can’t make the most of living in the property, withholding rent can be seen as a breach of contract and isn’t usually the best way to resolve a dispute.
If the landlord isn’t maintaining the property, for example, it’s better to start off pointing out the obligation to the landlord and insisting on repairs in writing. If the landlord ignores the tenant, the tenant can approach the Rental Housing Tribunal or a court to resolve the dispute. Depending on the specific circumstances, the tenant can possibly cancel the contract, claim damages, or even do the necessary maintenance and deduct a reasonable amount from the rent.
Early Cancellation depends on the Contract
A rental agreement is usually for a fixed period (for example 24 months), but the contract can be cancelled before the end date of the agreement. If a tenant wants to end a lease early, he or she can only do so if the landlord rents out the property in the ordinary course of its business (as the Consumer Protection Act (CPA) applies) or if the contract has a clause that allows explicitly for early cancellation. If the CPA applies, at least 20 business days’ notice is required, and the tenant will have to pay a reasonable penalty, as well any outstanding rent and utilities. Keep in mind that this can’t be deducted from the deposit kept by the landlord.
If the cancellation is based on the breach, the tenant must usually give the landlord an opportunity to fix the situation within a specific period, and if he or she still doesn’t comply, can proceed to cancel the agreement. The landlord can also cancel the agreement if the tenant is in breach.
Approach the Rental Housing Tribunal to Resolve Disputes
The first plan of action should be approaching the landlord and putting the complaint in writing. If the landlord ignores the complaint or doesn’t resolve the issue to the tenant’s satisfaction, the tenant can approach the Rental Housing Tribunal. The Tribunal resolves complaints through processes such as mediation and arbitration; and offers advice on issues related to residential leases and rentals. Not only does the Tribunal have the power to summon both the tenant and landlord to a hearing, but its rulings also have the same effect as that made by a Magistrates Court.
We’ve Got Your Back!
There are many legal ins and outs of renting a home in South Africa, so having access to a lawyer to answer any questions you may have, or to guide you through a dispute can give you extra peace of mind. Be sure to look at LAW FOR ALL’s policy options for more information.
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Calling all landlords

9/11/2019

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www.upperdeckrentals.co.za
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This stunningly beautiful unit in Randpark Ridge is the perfect spot to call home.

8/30/2019

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​Randparkridge
R 9 950.00 per month 
Occupation 1 September 2019
This stunningly beautiful unit in Randpark Ridge is the perfect spot to call home. Lavishly finished with porcelain tiles, throughout. Large sunny main bedroom overlooking the garden with bathroom en suite. 2nd bedroom with its own bathroom. Large open plan lounge and dining area. Lovely garden with louvre patio roof. Single garage and courtyard finish this beautiful home. Secure Complex with easy access to Beyers Naude Drive, Randpark High and Primary are just a short hop and jump away.  078 967 4356

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