Property News

Driving opportunity for women in the property sector remains a key priority

With a dynamic list of speakers and a room filled with commercial property industry change- makers, the Women’s Property Network (WPN) Leadership conference recently deliveredmeaningful insights into female leadership in South Africa. This half-day annual leadership conference is aimed at promoting the role of women in the real estate sector. Having taken place on 13 […]

Property News

Things no one tells you about when you buy a new house

Buying a first home is a big step for anyone – you’ve saved up for a deposit, been granted a provisional home loan and found a property that balances what you like and what you can afford. You make your offer. It’s accepted. Then comes a raft of unexpected fees, including transfer costs, bond registration […]

Property News

Edgars store owner running out of steam

Edcon the parent company of Edgars, which had already been under a financial strain, said it may not reopen after lockdown. Edcon, which had already been under a financial strain, revealed that the coronavirus has had a negative impact on the company and it would lose close to a billion rand during the 21-day lockdown […]

Property News

Moody’s downgrades South Africa’s credit rating to junk

Moody’s Investors Service has downgraded South Africa’s credit rating below investment grade. Moody’s Investors Service has downgraded South Africa’s credit rating to subinvestment grade, as a recession deepened by the impact of coronavirus frustrates economic reform efforts aimed at reducing government debt. The downgrade comes on the same day that South Africa entered a 21-day […]

Property News

The Foschini Group to skip Rental Payments amid SA lockdown

As South Africa goes into a 21-day nation-wide lockdown, Foschini Group to skip Rental Payments. As South Africa goes into a 21-day nation-wide lockdown, The Foschini Group [JSE: TFG] – whose brands include Foschini Stores, @home, Markham, Totalsports and Sterns – said it’s stopping rental payments because of the impact of the coronavirus outbreak. This […]

Property News

Investors make the most of Section 12J Tax Incentive

The close of the 2020 financial year this February brought a scramble of last-minute investors through the Section 12J gates, angling for that most welcomed tax rebate. Cape- based Flyt Property Investment saw their rate of capital raising double within the last week of February as investment into their Flyt Hospitality Fund caught the attention […]

Property News

Community living in the time of Covid-19

Following the declaration of a national state of disaster by President Cyril Ramaphosa to curb the spread of Covid-19 in South Africa, the trustees and directors of community schemes like townhouse complexes, retirement villages and residential estates must ensure that the measures implemented by the President are complied with, says specialist community schemes attorney Marina Constas. Failure […]

Property News

You don’t have to lose your home during lock down

Many home owners are worried about not being able to pay their bond installments over the next few months as they face the prospect of reduced earnings during the lock down and, possibly even afterwards as the economy takes time to recover from the disruption. However, says Gerhard Kotzé, MD of the RealNet estate agency group, they […]

Property News

Stenprop update: Covid-19 and the impact on business

Stenprop is today providing an update on the impact of COVID-19 on its business and the measures it is taking to manage the risks presented by the virus. Key points: The focus is on managing cash resources very carefully and maintaining liquidity in the business. The Company currently has £60 million of unrestricted cash reserves. […]

Property News Sectional Title

Where does your lease stand during the lock down?

All tenants who were due to move at the end of March will now need to do so before midnight on Thursday 26 March, or they will have to remain in place at least until after the nationwide lock down, which currently ends at midnight on 16 April. That’s the word from Andrew Schaefer, MD […]

Property News

Paddocks Press – March 2020

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Property News

All in favour? All opposed?

I recently presented a workshop during which I discussed with those in attendance the requirement and importance of having members of bodies corporate cast their votes on voting cards at the scheme’s general meetings. Some of the feedback I received from managing agents attending the workshop included “But we have been voting by show of […]

Property News

HOA NPC – Ensure compliance with CIPC checklist

On 13 August 2019 the Companies and Intellectual Property Commission (CIPC) announced that from 1 January 2020 it will be mandatory for all companies to complete a Compliance Checklist before submitting their annual returns. This Compliance Checklist requires entities to declare their compliance status with the mandatory requirements of the Companies Act, 71 of 2008 […]

Property News

Q&A – 2020 03

By the Paddocks Club team Below are examples of two questions on the Paddocks Club discussion forum, to show you what is available to our Community members! Trustees wish to delay the annual general meeting due to COVID-19 Member’s question: Good day Paddocks, As we are all aware, with the worldwide and nationwide spread of […]

Property News

Commentary: South Africa’s lock down and the possible effects on real estate

Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett: “I commend the president for taking such a proactive measures against this pandemic. After speaking to Dario Castiglia, Regional Owner for RE/MAX Italy, I was convinced and firmly believe that a full lockdown is the answer to flattening the contamination curve and making sure […]

Property News

Financial Fitness – Is this the right time to buy property?

  With the South African Reserve Bank’s announcement of interest rates cut of 100 basis points and earlier transfer duty exemption for properties below R1 million by the Minister of Finance, local regulations have made it attractive for first-time home buyers to enter the market. Amidst the uncertainty, the outbreak of the novel Coronavirus has an […]

Property News

Sun City Founder and Real Estate tycoon Sol Kerzner dies

Kerzner developed some of the country’s top hotel brands: first Southern Sun and Sun International, and then the projects that catapulted him into the league of hotel tycoon, Sun City and The Palace of the Lost City. Renowned international hotel developer and South African-born real estate magnate Sol Kerzner, who founded the Southern Sun Hotel […]

Property News

Domino’s Pizza comes to a grinding halt

The introduction of Domino’s Pizza to the South African market in October 2014 broke several sales records in the first full week of trade. Taste Holdings [JSE:TAS], former owner of Starbucks, announced that it will voluntarily liquidate Domino’s Pizza, following its failure to find a buyer for the pizza chain. The news comes after Walmart-owned […]

Property News

DoubleTree by Hilton Cape Town unveils self-isolation rooms

Located in the Upper Eastside precinct in Woodstock, Cape Town, DoubleTree by Hilton is equipped with hygiene hampers and isolation facilities for self-quarantined citizens. In a bid to curb the spread of Coronavirus (Covid-19), JSE-listed Spear Reit, the owner of the DoubleTree by Hilton Cape Town, has unveiled sanitized sanctuaries and self-quarantine accommodation. This comes […]

Property News

SA Reserve Bank cuts interest rates to 5.25%

Amid Coronavirus (Covid-19) crisis, SA Reserve Bank Governor Lesetja Kganyago today announced the decision to cut the interest rate to 5.25%. Amid disruptions due to the Coronavirus (Covid-19) crisis, the South African Reserve Bank (SARB) has cut interest rates by 100 basis points, from 6.25% to 5.25%, Governor Lesetja Kganyago announced on Thursday. The Monetary […]

Property Rental Uncategorized

The Landlord’s Council Arrears Are Being Deducted from the Tenant’s Pre-Paid Electricity Payments! What now?

This issue was recently raised in the Property Practitioners Facebook Group . . . Source: Property Practitioners Facebook Group This resonated with me as I have faced this issue more than once in my Residential Property Rentals career. Is it Legal? Now, whether this is legal or not I honestly wouldn’t know – I can […]

Atterbury develops new Cape Town showroom for WeBuyCars

Displaced minibus-taxis to relocate to Foreshore holding area

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