“Two years ago we found the perfect home to rent: It had three large bedrooms, a small, manageable garden, large open-plan living area and it was in a great suburb. There was plenty of space for our child and dog run around!” says Midrand tenants,
“Honey, should we stay in this house for at least one more year or do you want to move when our lease expires?”
“Let’s stay, please. I hate moving! We moved last year.”
“Okay, but the lease is increasing by another 10% if we stay on.”
This is the story of a man who owned a few properties all across the land: two-bedroom cottages, three-bedroom homes and large, old four-bedroom homes with garden flats. This man had been the lord of these homes for many years, which meant he thought he
Did you get a lease agreement from a local stationary shop or download one from Google? If you did, chances are that it is either totally non-compliant or is outdated.
This is according to Michael Bauer, MD of estate agency SAProperty.com, who says in the past
There has been a shift in demand for rental apartments in Sandton’s CBD due rampant development and oversupply, and this is being echoed in other northern suburbs that have traditionally been affordable and family oriented, and are now faced with a free-standing home market that
We are now firmly in the grip of a buyers’ market: Fewer buyers, more sellers and a reduced number of sales. The current housing market reflects the state of the nation and the economy, both in terms of price growth and the level of consumer
National average rental inflation is a lowly 2.89% according to the latest TPN Market Strength Index. This means that as a landlord, if you on average were charging a tenant R10,000 per month, your rental escalation would be R289 – hardly enough to cover above-inflation
According to the TPN Market Strength Index landlords in the Western Cape can afford rental escalation rates four times higher than that of the national average but still remain the province with the best tenant payment performances in the country.
During the second quarter of 2016 the
Tenants are paying R6,570.50 on average to rent a house in South Africa, according to Q2 2016 stats from PayProp Group.
This is a 6.4% increase compared with the same period in 2015, with the company’s CEO, Louw Liebenberg, saying the figures show a welcome return to
Absa’s Housing Review for the fourth quarter of 2015 published on November 9, reports housing rental indices, as published by Statistics South Africa, showed that national rental inflation averaged 5% y/y in January to September this year, which was above the average headline consumer price