What Does Being a Trustee of a Body Corporate Entail (Part 3)
In this article, we look at who chairs a meeting of trustees and the method of voting on resolutions passed at such meetings. The rules state that if there are only two owners, such as a duet sectional title scheme, then they would have to decide on a method between the two owners to possibly […]
Tips for First-Time Property Sellers
First-time sellers often focus only on the asking price, take a few photographs, list the property, and wait for the first offer. Good marketing matters in property sales, but it’s rarely where the issues show up. What causes problems is discovering the real risks only after a buyer is already interested. Missing documents, municipal issues, […]
The Developer’s Handshake: When Buying a New Property Changes Your Tax Bill
When you walk into a modern development, the smell of fresh paint and polished finishes welcomes you into a space that feels ready to be lived in. But before the move-in day, there are tax and legal steps that need to be completed to finalise the deal. What makes it more complex is that, in […]
Transfer Duty in South Africa: Key Facts for Property Buyers
Transfer duty is the tax you pay when buying property in South Africa, governed by Section 2 of the Transfer Duty Act 40 of 1949 (TDA). It applies to immovable property and certain real rights, like long-term leases. As the buyer (transferee), you’re responsible for paying it within six months of signing the offer to […]
Navigating Your Property Rights Under South Africa’s Expropriation Law
If you own property in South Africa or hold a mortgage bond, the Expropriation Act 13 of 2024 is a piece of legislation you cannot afford to ignore. While the act has sparked intense debate, largely centred on the concept of “nil compensation”, it is important to look beyond the headlines. When viewed through a […]
Airbnb and Sectional Title Regulations
Navigating the rules and regulations for short-term letting. With short-term letting and (more specifically) Airbnbs ramping up in South Africa, disgruntled owners and tenants are voicing their concerns when it comes to short-term letting properties contained in complexes, estates, and apartment blocks. While freehold property owners can act freely, sectional title property owners are bound […]
Downsizing for Retirement: Making the Move That Makes Sense
Less space. More freedom. As retirement approaches or the kids move out, many homeowners start to rethink their living space. Downsizing isn’t just about getting a smaller home—it’s about choosing a space that suits your new lifestyle. Whether you’re looking to simplify maintenance, cut costs, or enjoy a slower pace in a more comfortable setting, […]
Can You Back Out of a Property Purchase? Legal Consequences Explained
Purchasing property is one of the most significant financial commitments a person can make. It often involves high financial stakes, emotional investments and a legally binding contract. But what happens if you need to back out of a sale after signing an offer to purchase? Whether due to a change in financial circumstances, buyer’s remorse, […]
Five home ownership costs you shouldn’t overlook
It’s not all about interest rates. With interest rates at a multi-year low, now is an opportune time for first-time homebuyers to step into the property market. However, when it comes time to budget, potential homebuyers are urged to account for several important, but often overlooked, costs. While home loan pre-approval gives homebuyers a clear […]
Are You Ready to Step onto the Property Ladder?
Choosing the right time to go from renting to buying. Deciding when to transition from renting to buying can be daunting—and in the current economic climate, even those with the financial means to do so are unsure if now is the right time to do so. While there is no ‘one-size-fits-all’ answer, there are several […]