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eThekwini unlocks multi-billion Rand catalytic development

eThekwini’s Avoca landscape is set for major change after a historic agreement was recently signed with Main Street 57 to incentivise the Brickworks Development in the Avoca Development Node which sits north of Durban. The node measures approximately 350 hectares with a potential capital investment of R10 billion. Deputy Mayor

SAIBPP launches Women’s Forum

The South African Institute for Black Property Practitioners (SAIBPP) recently launched their Women’s Forum via a webinar. The virtual event boasted a full programme of respected speakers including the Chairperson of the SAIBPP Women’s Forum, Fundi Mazibuko, UN Women’s South Africa Multi-Country Office (SAMCO) representative, Anne Githuku-Shongwe, Black Business Council

Vacant industrial properties average shortest time on the market says FNB

The continued FNB Commercial Property Broker Survey for 2020’s third quarter results surveys a sample of commercial property brokers in and around the six major metros of South Africa which includes the City of Johannesburg and Ekurhuleni (Greater Johannesburg), Tshwane, eThekwini, the City of Cape Town and Nelson Mandela Bay.

Fairvest’s annual results reflect stable tenant retention

Fairvest Property Holdings Limited has announced its results for the year ending on the 30th of June 2020, with total distribution for the year of 21.038 cents per share, down 3.4% decrease on the prior year.   “We are pleased with the resilience that our portfolio has shown in what

Property Rentals

The Importance of Sending the Right Letter of Demand (LOD)

It’s that time of the month again – time to follow up on rent and other arrears, and ensure that all the mandated arrears management activities that you are contractually bound to perform are carried out – diligently, and without fear or favour! I was reminded in a telephone conversation

3 Tips & Tools to De-Stress Month-End by Managing the Exit Process Better with Clearly Explained Expectations and Consistent, Clear, Comprehensive Communication for the Exiting Tenant/s and the Landlord/s

How often do you have to run around under pressure at month-end getting cleaners and contractors in at short notice to get a vacated property up to standard for a new tenant to move in the next day? And then (to top it all off!) you still have to deal

Rental Best Practices: Processing Rental Applications PROFESSIONALLY

Many rental mandates contain a clause like the following . . . “The Agent cannot be held liable to the Landlord (provided that the Tenant has been correctly screened and placed by the Agent) for any liabilities, such as the Tenant not paying Rental, vacating the Premises before the Lease

Residential Rentals RoundUp #8 | Research & Survey both Reveal Serious Concerns About Rent Payments & 50% Member Discount on Selected Training & DocPacks

Number of Job Losses Grows as South African Consumers Feel the Pinch of COVID-19 The number of consumers who have lost their jobs has increased sharply since the beginning of April, according to newly released research from TransUnion. 44% of all consumers who are concerned about paying their bills report that they

Sectional Title

Better conduct rules make better Sectional Title schemes

For a harmonious and co-operative atmosphere in a Sectional Title scheme, it is important to ensure that a set of ‘Conduct Rules’ are modern, clear and specific. Andrew Schaefer, MD of property management company Trafalgar says they receive requests for help from trustees who do not know what to do

Balwin launches sectional title development, Mooikloof Mega City

Balwin Properties has announced a residential project that could be considered the world’s largest sectional title development. Known as Mooikloof Mega City, east of Pretoria, it could see a total of 50 000 apartments, developed in phases at a present value of approximately R44 billion, should further approvals be obtained. This

Sectional Title requires swift action to recover arrear levies

South African Sectional Title schemes and Homeowners’ Associations could possibly face financial trouble if homeowners do not start making up the levy payments that were deferred during the national lockdown. Andrew Schaefer, MD of property management company Trafalgar, says that Sectional Title trustees and Homeowners’ Association will need to know

Single women dominate South Africa’s first-time home buyers market

Women are the leading gender in the first-time home buyer market in South Africa. According to Hayley Ivins-Downes, this trend has held true between 2015 and 2020. “This is despite the dramatic falloff in sales this year caused by impact of Covid-19 and the lengthy lockdown resulting in various restrictions

Online platform launched to support and develop Women in Sectional Title

With women reportedly the largest group of property buyers in South Africa, they are underrepresented and largely unacknowledged in the property sphere. This is according to specialist sectional title attorney and BBM Law Director Marina Constas. “Women may be snapping up properties, but they are still being left out in

Sectional title vs. freehold – consider the differences before investing

Sectional title living can offer heightened security, affordability, and a communal way of life. However, sectional title ownership comes with a variety of responsibilities and legalities of which property buyers are not always aware. Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa says there are considerable differences

Sectional titles and micro units gain popularity during Covid-19

The Covid-19 outbreak has seen some investors heading for more spacious, freestanding homes while others are still seeking the benefits of more compact, manageable accommodation in sectional title units. This is according to Dr Andrew Golding, Chief Executive of the Pam Golding Property Group. “According to Lightstone data, sectional title

Cape Town dethroned as strongest property market

The Western Cape’s undisputed position as the market leader has provided consistent double-digit growth for almost a decade but, the playing field has been levelling since 2017 with Lightstone’s June 2020 house price index which reveals significant shifts in the local market place. With a current growth rate of 4.8%

The impact of POPI on sectional title communities

With the Protection of Personal Information Act (POPI Act) now in effect, it has significant implications for owners, tenants and executives in community housing schemes like sectional title complexes, apartment blocks, residential estates and retirement villages. Specialist Sectional Title Attorney and BBM Law Director, Marina Constas say that it seems

EMAs – faster and less expensive for troubled sectional title schemes

Sectional title schemes facing financial difficulties should appoint an executive managing agent instead of placing the scheme under administration says Andrew Schaefer, MD of property management company Trafalgar. Andrew believes that many sectional title owners seem to be under the impression that schemes (which are technically insolvent or struggling with

Property Finance

Newly found ‘buyer exuberance’ evident in residential market

The FNB House Price Index (HPI) has highlighted an annual house price growth acceleration in August, reaching 2.8% year-on-year and up from 1.8% in July (revised up from 1.4%). The rebound in prices is supported by the unexpected rapid recovery in market activity since the easing of lockdown restrictions. “Our

Follow-Up on Transferring Attorney Nomination

Our article on attorney nomination caused quite a stir in the industry, resulting in numerous negative responses, as was expected, but some very positive responses worth considering. …

There is opportunity in adversity for first-time property investors

Would now be the right time to purchase your first property? Paul Stevens, CEO of Just Property sees this opportunity in the current climate to purchase property at discounted rates. In May 2020, Lightstone predicted an 8.8% drop in property prices if South Africa’s GDP fell to -6%. Stevens warns

Homebuyers Should Nominate the Transferring Attorney

It has always intrigued me why nobody has challenged the standard practice of the seller nominating the transferring attorney, responsible for registering the transfer. …

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