From starting a new job in a new area to no longer being able to afford rent, there are a number of reasons a tenant may want to end a lease early.So, before signing a new lease, make sure to check that it makes provision for early cancellation as per the Consumer Protection Act (CPA).After all, this Act is intended to protect the rights of both landlords and tenants.In the case of early lease termination,...
In a buyer’s market, which we are currently experiencing in South Africa, there are more homes for sale than there are buyers, giving purchasers more choice and, thus, more power to negotiate lower prices.But this does not mean sellers don’t still carry some weight – some sellers, anyway, and only to a certain extent.A number of factors can impact the selling prices of properties in a buyer's market,...
Many South Africans are turning to property investment as a way of supplementing their retirement savings – and it is not only affluent owners going this route.In light of the uncertain and volatile nature of investment markets, there is a growing need to enhance retirement savings beyond employee pension funds or retirement annuities.And property, if approached with caution, can serve as a valuable...
South Africa’s most expensive home, at R700 million, continues to drive the mystery of who the owner is and whether it is on the market. Neighbours have declined to say who owns it.This week, the Weekend Argus approached property experts and the Camps Bay community and councillor, hoping to find out more about the luxury and Hollywood-style home.The most expensive house in South Africa is in Geneva...
As affordability and security concerns grow in major cities and key commercial hubs, young and older homebuyers are choosing small-town lifestyles that offer peace, fresh air, and quality of life.And they choose these lifestyles for varying reasons, including raising families, working remotely, or even starting businesses.While semigration is nothing new, Dr Andrew Golding, chief executive of the Pam...
Despite a tough economy and constrained household budgets, more tenants are paying their rent in full and fewer are falling into arrears.In Q3 of this year, 83.34 percent of tenants were considered to be in ‘good standing’ with their rent payments, meaning that all their rental obligations were met by the end of the month.These include tenants who paid on time; paid within a grace period afforded by...
Buying a property that offers good value for money is not as easy as looking at its price, and this is the first mind-set shift that buyers must make: value must not be confused with price.And just because you were able to negotiate a reduction in the asking price does not make it a bargain because the price was probably inflated to begin with, says Renier Kriek, managing director of Sentinel Homes.True...
First-time homebuyers in greater Pretoria, Johannesburg, the Western Cape, and KwaZulu-Natal are leading the pack when it comes to taking their first steps on the property ladder.While this is a trend usually common in regions that are home to the country’s largest metros, the fact that so many first-time buyers are successfully becoming homeowners in the current economic climate is impressive.First-time...
Increasing numbers of South Africans have installed alternative or backup electricity solutions over the past year as the unprecedented level of load shedding has taken its toll.These installations are more prevalent in higher-priced segments as these homeowners can afford them and have “superior access” to funding options, says FNB senior economist Siphamandla Mkhwanazi.Only 56 percent of owners in...
The demand for alternative power solutions in South Africa has skyrocketed since 2021, but many people cannot afford to invest in such systems; luckily, if you don’t have the money to buy one outright, you can actually rent one.Alternative energy systems range from simple fixes like Uninterrupted Power Supply (UPS) devices to more comprehensive solutions such as invertors, generators, and solar panel...
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