When your tenant ‘does a duck’
Tips for landlords when their tenant does a disappearing act. Everyone who has let out property knows that sickening feeling when you find out that your tenant has disappeared. Most of the time there are signs usually unpaid or late paid rental. Some tenants plan to go without paying, while others just cannot pay. What […]
Transfer duty – No surprises – Part 2
The Transfer Duty Act 40/1949 (“the Act”) states that transfer duty (duty) is to be levied on any property acquired by any person by way of a transaction. The Act is clear as to whom and by when the duty is to be paid. It states that the duty shall be payable by the person […]
Having ‘skin’ in the property game
Bigger deposits mean a smaller loan and a better interest rate. Rising inflation and several interest rate hikes have many South Africans trying their best to keep their costs down where possible, and this has also translated into their homebuying behaviour. The Q2 ’22 oobarometer statistics, released by ooba, reveal lower-than-expected home price inflation from […]
The rei vindicatio and the actio ad exhibendum
The are a myriad of circumstances where one might be deprived of possession of one’s property. You might, for example, have given permission to your friend to use your vehicle for one year, which your friend then refuses to return the vehicle after the friendship has turned sour a year later. South Africa is a […]
Landlord and tenant inspections
The Rental Housing Amendment Act[1], section 4B (4) and (5) determines that the tenant and property owner must jointly, before the tenant moves into the dwelling, inspect the dwelling for any defect and damage. It further determines that the same procedure must be followed when the tenant vacates the property, and this inspection must be […]
What you should know about the new Property Practitioners Act
The long-awaited Property Practitioners Act finally came into effect this year and brings with it significant changes to the real estate industry. The Act takes a more consumer-focused approach and is premised on the need for transformation in the property sector. Property practitioners The Act has widened its scope of application by consolidating all role […]
Life partners now qualify for intestate succession
The Constitutional Court recently confirmed the October 2020 ruling of the Western Cape High Court that section 1(1) of the Intestate Succession Act is unconstitutional in so far as it excludes life partners in a relationship intended to be permanent, as per the definition of “spouse”. The Court ordered parliament to amend two laws to […]
Take your homeowner relationship to the next level
Despite the recent interest rate increase, South Africa is still currently in what is deemed a “buyer’s market”, where first-time homebuyers are enjoying the opportunity of entering the property market at a much earlier stage than their financial situations would have allowed in previous years. But it’s precisely the fact that so many homebuyers are […]
Moving to a smaller home may be the answer
Property ownership in today’s economy is no small feat. But even when you’ve worked most of your adult life towards buying the family home of your dreams, the possibility of downsizing should never be discounted. Whether you’re looking at lowering the costs of homeownership, or reassessing your property needs once your children have moved out, there are a number of clear indications that it’s time for you to move on to something […]
The ups and downs of property co-ownership
Property ownership is no small feat. It is one of the most reliable forms of investment and one of the biggest items that most people have on their financial “to-do” lists. Unfortunately, it is not always an easily achievable goal. Property ownership has always been a costly endeavour, and in recent years the age of […]