MAKE THE MOST OF YOUR RENTAL PROPERTY
Investing in a property can be one of the best decisions you make. It is also one of the investments you need to consider most carefully to make sure you continue reaping its benefits when the market shifts. The key to an informed purchase and continuing growth is keeping up to date with the property […]
HOMEOWNER’S INSURANCE FOR LANDLORDS
Apart from paying off a bond on a rental property, property investors/landlords are usually also paying for homeowner’s insurance. What is homeowner’s insurance? Homeowner’s insurance covers the property owner against damages to the structure of the property. This damage could be caused by flooding, fire, wind, hail or other natural causes. However, the above is […]
DRONES: HOW IS IT REGULATED?
Drones, also sometimes referred to as Remotely Piloted Aircraft Systems, are becoming increasingly popular amongst the civilian population. This is due to the fact that it is becoming widely available and increasingly affordable. Drone manufacturers are catering for all different types of consumers and different budgets, with some drone models retailing at less than a […]
IMPORTANT STEPS FOR THE TRANSFER OF PROPERTY
The transfer process can take up to three-months, sometimes longer. There are different steps involved in the transfer of a property, these include: Instruction. A conveyancer receives the instruction to transfer the property. Communication. The conveyancer communicates with the various role-players involved in the transfer process, such as the seller, purchaser, transfer and bond attorneys, […]
TITLE DEEDS WHEN BUYING OR SELLING PROPERTY
If you’re planning to buy a new property, you’ll need to get the title deed transferred into your name to prove that you’re the owner of the property. You’ll need the assistance of a lawyer specialising in property transfers (also known as a conveyancer) to help you transfer the title deed into your name. You’ll […]
THE BASICS OF CREATING A LAST WILL & TESTAMENT
Who your property is passed on to depends on whether you have a valid will or not. If you do have a valid will, then your property will be divided according to your wishes stated therein. If you die without a will (called “intestate”), then your property will be divided amongst your immediate family according […]
DO I NEED A COHABITATION CONTRACT WITH MY PARTNER?
Cohabitation is a relationship between two people who choose to live together in a monogamous and stable environment. Couples who decide on cohabitation could do so, prior to getting married, as an alternative to marriage, or while they are still in the process of divorce and are already living with their new partner. The differences […]
IS THE TENANT OR LANDLORD RESPONSIBLE FOR THE WATER LEAKS?
Questions, and sometimes disputes, often arise between landlords and tenants regarding where the responsibility lies with the maintenance of a property. The simple answer is that tenants can generally only be held responsible for repairs/replacement on the property if the damage was caused by the tenant’s actions, or items that have a short life span, […]
CO-OWNING PROPERTY WITH SOMEONE ELSE: THE UPS AND DOWNS
What is co-ownership? Co-ownership is when one or more people jointly own the same property. In essence, it is when they legally share ownership without dividing the property into physical portions for their exclusive use. It is thus commonly referred to as co-ownership in undivided shares. It is possible to agree that owners acquire the […]
RENTING PROPERTY TO FOREIGNERS
Renting property in South Africa is a straightforward process. The country has a vast selection of rental accommodation including bachelor flats in apartment blocks, Victorian cottages, stand-alone houses with big gardens, and semi-detached units in modern townhouse complexes. In South Africa, the right of a foreigner to purchase immovable property was restricted in the past […]