With so many South Africans living and travelling abroad, the power of attorney (POA) is a useful legal tool that can make the sale or purchase process much easier and quicker when the buyer or seller is unavailable or unable to attend to the details of the transaction in person. Claude McKirby, Co-Principal for Lew Geffen Sotheby’s International Realty explains: “In a nutshell, a POA allows one...
Advice
Property buyers that are purchasing sectional title property should not only evaluate all aspects of the property but it is equally crucial to review the governing entity responsible for managing the sectional title scheme.“The body corporate plays a pivotal role in maintaining the complex, enforcing rules, and managing the communal finances,” Cobus Odendaal, CEO, Lew Geffen Sotheby’s International...
Rental property owners and landlords must understand their duties and rights under South African rental regulations, particularly what they are not permitted to do.Landlords and tenants have rights and obligations under the Rental Housing behave and the Consumer Protection Act, and landlords cannot behave arbitrarily, particularly when dealing with tenant complaints.Seeff Southern Suburbs’ rental brokers...
The main reason why a property does not sell is typically because it is overpriced relative to similar properties or the current market conditions, according to Seeff Property Group. Seeff said that an unrealistic asking price extends the selling timeline which means more days of keeping your home show-ready, extra marketing costs accruing, and potentially missed opportunities on other properties you might...
Thinking about renting your property out in order to make some extra cash? Well you should know your insurance liabilities. A number of South Africans have taken to renting out a room, flatlet, or their entire house to earn extra income, especially during the holiday season.Homeowners have flocked to platforms like Airbnb, Roomies or Roomster to rent out their homes and or rooms to potential guests.The...
A suspensive condition is a condition that suspends the rights and obligations of the parties (or the coming into operation of the entire Agreement of Sale) until the occurrence of a certain or uncertain future event. The most common examples of a suspensive condition include: A condition requiring the purchaser to obtain loan approval from a financial institution within a specified period to finance...
The hotel industry, which relies heavily on technology to manage guest services and operations, has become a prime target for cybercriminals. Phishing—where attackers pose as legitimate entities to trick individuals into divulging confidential information—has become the method of choice for these criminals. These attacks aim to steal user credentials and sensitive guest information, such as payment...
Cape Town - October marks Cyber Security Awareness month, a global campaign that shines a light on the importance of safeguarding against cyber threats. With so many cyber vulnerabilities present across all industries, Jackie Smith, head of Buyers Trust – a cutting-edge bank-hosted deposit solution for homebuyers – said that today’s landscape is more complex than ever before. “Today there...
With high interest rates stretching recent homebuyers to breaking point, André van Rooyen of PayProp says that many hopeful first-time buyers would be better off renting. A growing number of millennial homebuyers are taking to social media to share their disappointment after being slammed with surprise costs. Some of these include maintenance costs, levies and rates. But the biggest shock for many has...
We all want to achieve the best possible return on what is probably our largest investment and, when it comes to selling your home in South Africa, understanding how capital gains tax (CGT) applies can be crucial for minimising your tax liability. Claude McKirby, Co-Principal for Lew Geffen Sotheby’s International realty in Cape Town’s Southern Suburbs and False Bay explains: “Capital gains tax is a...
