How much home can you get for your money
Analysing the affordability of SA’s residential property market South Africans continue to tighten their belts as the pressure of rising interest rates, inflation, and other varying economic factors put household income under strain. This puts the affordability of national residential property under the spotlight. However, while (in nominal terms) national house price inflation remains positive […]
The increasing importance of Fidelity Fund Certificates
Property Practitioners who now need to hold a Fidelity Fund Certificate, unless excluded, to practice in terms of the Property Practitioners Act, 22 of 2019, may have certain questions regarding the application process to obtain the Certificate, its issuing from the Authority and any disqualifications from issuing, its amendment, withdrawal, and lapse thereof. A Property […]
Eviction order prior to removal of unlawful informal settlement structures on private property: Is it necessary?
Should a land owner obtain an eviction order prior to the removal of informal settlement structures erected unlawfully, and without the land owner’s consent, on his or her private property? When living in South Africa, the sighting of informal settlement structures being erected on vacant land is quite common. Unfortunately, these informal settlements are sometimes […]
Is a seller held liable to repair a leaking roof after the property is sold?
The Purchaser signs an agreement of sale with the Seller. The property is transferred into the Purchaser’s name. A month later, there were heavy rainfalls and the roof leaks. Is the Seller liable to repair the roof or the Purchaser, as the new owner? To understand which party is liable, one must appreciate the difference […]
Will solar power increase the value of your home?
The upfront investment is high, which you’ll want to recover when you sell. Stage 6 loadshedding is now firmly in effect, many South Africans are without power for up to 12 hours each day, and the threat of Stage 8 blackouts looms large on the horizon. It’s no wonder then that many households are turning […]
The creation methods of servitudes in South Africa
A servitude can be described as a limited real right that can either provide the holder with the use and enjoyment of another person’s property or restrict the person, with the right of ownership, to exercise certain entitlements that stem from such an ownership right. It, therefore, provides someone with an advantage over another person’s […]
Part 2: Dream holiday or nightmare! An overview of the Property Time-Sharing Control Act and the vacation ownership/time-share industry
In 2018 the National Consumer Commission (NCC) investigated the vacation ownership and time-share industry after various consumer complaints were submitted to the Consumer Protection Tribunal. [1] The majority of the complaints received and raised during the enquiry related to the inability to cancel these so-called “life-long” contracts with clubs, the forfeiture of points on cancellation […]
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 […]
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 […]
Is it possible to avoid bond cancellation costs?
When you cancel your mortgage bond, most banks will contractually charge you a cancellation fee. Such fees can be for early termination of the bond or for giving less than 90 days’ notice of your intention to cancel, but is there a way to avoid these costs? Unless your mortgage agreement is silent on the […]