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Most Recent Renting Articles

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WHAT HAPPENS TO YOUR RENTAL DEPOSIT?

WHAT HAPPENS TO YOUR RENTAL DEPOSIT?

Most landlords request a deposit from their tenants before they move into the property. According to Section 5 of the Rental Housing Act, No. 50 of 1999, a landlord is legally entitled to request a deposit from their tenants. How much should you expect to pay? The amount that the tenant will be required to pay as a deposit is stipulated in the lease agreement. Conventionally the rental de...

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WHAT IS OCCUPATIONAL RENT?

WHAT IS OCCUPATIONAL RENT?

In most instances, buyers want to avoid having to pay occupational rent and wait for the home to be registered in their name before they move in. Similarly, sellers want to be out by the time the transfer goes through. Sadly, life doesn’t always go according to plan. It is important to have an understanding of what occupational rent is so that you’re prepared for whatever delay life th...

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HOW LANDLORDS CAN REDUCE TAX ON RENTAL INCOME

HOW LANDLORDS CAN REDUCE TAX ON RENTAL INCOME

We all know that owning a rental property is more than just finding the perfect tenant. If you own a rental property portfolio that provides an income, you’d know that it’s much like owning a business. This means that there are tax implications and dues that need to be paid to the South Africa Revenue Service (SARS). While all taxable income must reflect on your return, there are ways...

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USING THE RENTAL HOUSING TRIBUNAL TO RESOLVE DISPUTES

USING THE RENTAL HOUSING TRIBUNAL TO RESOLVE DISPUTES

Though many have never even heard of it, there is a free portal of advice that landlords and tenants can use to resolve disputes without incurring massive legal fees. In these instances, both parties may seek free council from the Rental Housing Tribunal (RHT): an organisation that exists to resolve disputes. What is the Rental Housing Tribunal? The RHT implements the Rental Housing Act and...

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WHAT IS BREACH OF CONTRACT & WHAT LANDLORDS CAN DO ABOUT IT

WHAT IS BREACH OF CONTRACT & WHAT LANDLORDS CAN DO ABOUT IT

A good example of a breach of contract is when the lease agreement stipulates that no permanent renovations can be made to the property and your current tenant decides they’d much prefer an open plan kitchen and lounge area, so they knock down the wall separating the two. Not only is this a breach of contract, but it’s also a landlord’s worst nightmare. Luckily, a legally binding...

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5 STEPS LANDLORDS CAN TAKE AGAINST LATE-PAYING TENANTS

5 STEPS LANDLORDS CAN TAKE AGAINST LATE-PAYING TENANTS

The global pandemic has left some in a financially challenging position. The current economic circumstances have affected many jobs and weighed heavily on people’s income. Some landlords may find themselves in a predicament where their tenant is no longer able to pay monthly rent. However, landlords cannot simply evict their tenant as they’re protected by the Prevention of Illegal E...

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AVOID THESE PITFALLS WHEN BUYING BEFORE A VIEWING

AVOID THESE PITFALLS WHEN BUYING BEFORE A VIEWING

Until the threat of COVID-19 is contained, many buyers who want to take advantage of the record low-interest rates or who are serious about buying over this time might prefer to purchase without ever stepping foot into the home. Though technology makes it possible, buyers should be very thorough before signing the legally binding offer to purchase. Below are some pitfalls buyers should avoid wh...

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4 FEATURES BUYERS WILL LOOK FOR POST LOCKDOWN

4 FEATURES BUYERS WILL LOOK FOR POST LOCKDOWN

Shaken by the effects of COVID-19, the world is going to be a very different place long after we emerge from the national lockdown. When it comes to selling in a post-lockdown world, buyer preferences are likely to be very different than before. Below are some of the features that might become increasingly popular as we slowly emerge from the national lockdown.  1. Extra space to work or s...

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5 WAYS TO KNOW WHEN YOU'RE READY TO BUY A HOUSE

5 WAYS TO KNOW WHEN YOU'RE READY TO BUY A HOUSE

We’ve all thought about buying our first house. From, the location to your ideal bedroom-to-bathroom ratio. However, apart from finding the perfect home and dealing with the often complex process of home buying, there are other aspects you should consider before taking the step from potential home buyer to first-time homeowner. While this is an incredibly exciting time, don’t allow...

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HELP: WHAT TO DO WHEN YOU CAN’T PAY YOUR HOME LOAN

HELP: WHAT TO DO WHEN YOU CAN’T PAY YOUR HOME LOAN

The impact of COVID-19 has left many desperate for help and unable to pay their home loans. While for some, it may simply be a matter of readjusting certain behaviours to rectify their financial situation, others may find themselves in more dire circumstances. The best advice is to avoid feeling so shameful about your financial distress that you avoid asking for help. Homeowners in financial tr...

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HOW MILLENIALS CAN SAVE TO BUY THEIR FIRST HOME

HOW MILLENIALS CAN SAVE TO BUY THEIR FIRST HOME

Millennials (those in their 30s and under) have been biding their time, slowly progressing in their career, paying off student debt and building up savings (hopefully) as they wait for an opportunity to enter the property market. The current financial crisis in which we find ourselves presents this age group with the perfect opportunity to find their dream home at a price they can finally afford....

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THE DOS AND DON’T’S OF HOME EQUITY

THE DOS AND DON’T’S OF HOME EQUITY

For those who have equity available in the bond accounts, it can be tempting to withdraw some of the money and use it for more immediate needs or wants. While some reasons for using the equity make good financial sense, others don’t – the decision will largely be based on the homeowner’s circumstances and plans. Below are a few of the reasons why homeowners might be tempted to...

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