Showing posts with label rent. Show all posts
Showing posts with label rent. Show all posts

RENTING OUT DIGS FOR STUDENTS

STUDENT ACCOMMODATION & ZONING LAWS


Stellenbosch offers great opportunities for property investment
with the growing demand for student accommodation.  Make sure
you're buying within the correct zoning provisions!


In a recent email from one of our lawyers, Smith Tabata Buchanan Boyes, a case was highlighted where an owner was renting part of her property out to students in Stellenbosch.

This is an important judgment to anyone offering accommodation to students. The Court here granted the Stellenbosch Municipality’s application for an interdict to prohibit a property owner from offering student accommodation if the property zoning only allows for a dwelling house to be occupied by one family. The owner must obtain the required permission from the municipality or face the penalties.



HERE ARE THE FACTS
This matter deals with an application by the Stellenbosch Municipality for an order interdicting Ms Van Wyk from providing student accommodation on her residential property in Stellenbosch, as it is contrary to the provisions of the applicable zoning scheme.
Read more »

Going in with eyes wide open

Contracts can be daunting – especially if you don’t deal with them in your normal course of work.  Signing an Offer to Purchase is a complex agreement that has many facets to protect both the buyer and the seller.  At Rivigan Property Group it’s our job to know these contracts and know how to communicate them to our clients in a way that is clear, honest - and in their best interests.  Many people run into exciting purchases with their eyes wide shut – hoping for the best.  Unfortunately, if you’re not going to read and understand the contract, you may encounter severe problems later on.
 
Before even getting to the point of signing an Offer to Purchase, we strongly advise that your finances and pre-approved bond details are organised and ready.  It is essential that your financial position be as stable as possible, should it change after signing the contract and if it was signed in good faith, it will not be a reasonable and legal consideration to renege on the contract.

Once you get to the point where you have checked out the property, or the developer, and are happy to sign an Offer to Purchase you are well on your way to a smooth and beneficial transaction.  A signed offer constitutes a Deed of Sale; it sets the precedent for all further legalities around the ownership of the property so it’s important to know all the details.

Here are the first five considerations to take note of in your Offer to Purchase:

Read more »

Semigration - what's the deal?


 Whilst the term ‘semigration’ may be relatively new, the process is centuries old.  It refers to the translocation of people from one region to another region within the same country.  Emigration is one of the buzzwords in most social circles in our country as we struggle to regain ground within the context of economic and political turbulence.

However, for those who have chosen to stay in this beautiful country and tap into the potential that it offers, semigration is a very likely possibility. 

Reasons for relocation may include factors of security and crime, traffic and infrastructure or family and friends, but according to a study done by FNB the primary driver for semigration is work and financial opportunities. 

"Approximately 7% of all sellers sell in order to relocate within South Africa."

This means that most semigration is in the direction of the City of Gold – Johannesburg, the number one in business opportunities.  Despite the allure of the ocean, mountains and lifestyle, Cape Town falls far behind as number two, with KZN following closely behind in third place.

With this reality, you may very well find yourself needing to move to an area that you’ve never been to and have no idea what questions to ask and what to consider.  The Rivigan Property Group is the expert in the Krugersdorp/Ruimsig area and is perfectly situated to help you in finding a home to purchase or rent if you are planning to relocate.

We have a strict code of excellence that we adhere to in every deal and are focused on achieving the best outcome for our clients.  Contact us today for more information.

Buying to rent – what’s the best category?




TPN is a registered credit bureau that conducts ongoing research into consumer patterns and behaviours regarding debt repayment.  Rivigan Property Group works closely with this information in order to give the best advice to their clients and stay in touch with market trends.  

When considering the purchase of a property as a residential rental investment, the following information is extremely useful:



  • The rental bracket of R3000 – R7000/m holds the best performance for rental payment with 84% of tenants in good standing
  • The next rental bracket is R7000 – R12000/m with a performance of 82%
  • Rentals for under R3000 and over R12000/m have the lowest performance at around 74.5% - almost 10% lower!
(figures at June 2011)

    You need to plan and research your options in order to make the best property investment, so evaluate the long-term return of a property in a strong-performing market bracket.  The current trends in rent payment (as shown above) are a valuable guide to making this decision and will help you make a wise choice in property, as well as in your managing agent.

    When dealing with a reputable and trusted agency, you are on the right track to sustaining a viable and profitable investment in your property.  If you want to buy a property to rent, let our agents know so that we can advise you accordingly.  Make the smart choice, choose Rivigan Property Group.