The property market in South Africa at the moment is a cutthroat one. Rental properties are in short supply, while the demand for homes is ever increasing as people struggle to raise the appropriate home loan to buy a property. This demand often leaves potential tenants arriving at a rental property only to find they are competing with 15 others,…
Many South Africans have seen their dreams of owning their own home dashed over the last few years due to the difficulty in obtaining a home loan and the cost thereof. But, says Meyer de Waal of Oosthuizen & Co Meyer de Waal Attorneys, South Africans should not abandon their dreams of owning a home, but should rather look for solutions to…
The face of home ownership in South Africa is continuing to change as more black middle class homeowners move into the increasingly affluent suburbs; while the previously disadvantaged now comprise more than 50% of home buyers. Although strict loan requirements remain a hurdle to be overcome for those wishing to get onto the first rung of the property ladder, structures…
Launch of the Consumer Housing Education Programme in Khayelitsha June 2013
Written by Meyer de Waal
Home ownership is a failsafe method to assist aspirant first time home owners living especially in townships to escape the poverty trap. This is the message of MEC for Human Settlements, Minister Bongikhaya Madikizela at the launch of the Consumer Housing Education Programme in Khayelitsha last week. Minister Madikizela referred to the difficult task of local government providing sufficient housing…
The payment of levies is the backbone of any sectional title scheme making the management of levies and awareness of how levies can be charged vital to the managers and owners of sectional title units, including what can happen if levies are not paid. What are levies? When you buy a sectional title unit in a sectional title scheme, as…
Om ‘n eiendom in ‘n deeltitelskema te besit of huur, kan heelwat meer verpligtinge plaas op die eienaar of huurder ten opsigte van die nakoming van reëls en regulasies as wat van toepassing mag wees op ‘n eienaar of huurder van ‘n vol-titel eiendom. Die rede hiervoor is dat die regte van al die eienaars en huurders beskerm moet word…
Too many contracts... Too little time?
Written by Marc Naude
Often the perception is that once you have “signed on the dotted line” the contract can be stored and need only be consulted when trouble arises. This is revealing of how contract management is still not recognised as an important management tool for most businesses. It is seen generally as a discipline belonging only to the largest of companies and…
Die munisipaliteit het aan Westside Konstruksie (Edms) Beperk (die “Kontrakteur”) ‘n tender toegestaan vir die oprig van lae-koste behuising. Die omvang van die projek is van so aard dat die Kontrakteur uiteraard sub-kontrakteurs moet gebruik om die werk uit te voer. Een van die sub-kontrakteurs wat benodig word, is ‘n loodgieter en Pypies Loodgieters (Edms) Beperk (die “Sub-kontrakteur”) word aangestel…
Wilma en André het onlangs in Sonskyn meenthuiskompleks ingetrek. Saterdagaand vier André sy verjaardag en die partytjie duur voort tot net na twaalf die aand. Maandagoggend ontvang André ‘n skrywe van die bestuursliggaam van die kompleks tot die effek dat hy ‘n R500.00 boete opgelê word aangesien die huisreëls bepaal dat stilte na 23:00 gehandhaaf moet word en dat André…
Recent amendments to the Income Tax Act have made it possible to transfer residential property from a legal entity (trust, company or close corporation) to an individual, without paying transfer duty, capital gains tax, dividends tax or secondary tax on companies. Important to note is that the window to make use of this tax amnesty is closing with the deadline…
Jou strandhuis is in die mark vir verkoop of verhuring. Die Franse paartjie het die advertensie op die internet gesien, kontak gemaak uit Frankryk en stel belang om jou strandhuis te koop of te huur vir vakansies in Suid-Afrika of selfs later in te woon indien die man se aanstelling as streeksbestuurder van die nuwe Afrika-been van sy Franse maatskappy…
A ‘rouwkoop’ clause included in a sale agreement provides for the purchaser to pay a deposit to the seller, which deposit may be retained by the seller should the purchaser decide to withdraw from the agreement. This does not constitute breach of the agreement, but is a mechanism whereby the purchaser legally buys his way out of the agreement. Most…
Can a foreigner lease or purchase immovable property in South Africa? And, if this is possible, what are the requirements for such a transaction to be valid? Also, can I lease or sell my property to any foreigner? The answers to these questions are pertinent to landlords and sellers garnering interest of foreign tenants and purchasers. In South Africa the…
Financial literacy
Written by Meyer de Waal
The importance of financial literacy in buying and owning a home – flowing from the comments by Pravin Gordhan Finance Minister Pravin Gordhan launched a strong attack on financial institutions, which he referred to as “greedy monsters” that put profits before the wellbeing of the people they are supposed to serve. The problem He referred mainly to the economic meltdown…