While there is today a greater awareness of the benefits of owning a residential property to rent out for passive income, aspirant landlords are faced with some key decisions when making this kind of investment....
Sectional Title
Estate living is one of the fastest growing real estate trends in South Africa and, with crime on the rise and lifestyle increasingly a priority for home buyers, the growing demand for a quality lifestyle in a secure environment is unlikely to abate any time soon....
One of the key shifts in the housing market triggered by the pandemic, was that many home buyers opted for a freehold home rather than a sectional title home in order to gain access to some outdoor space, as well as additional space in order to accommodate working from home....
Most buyers who are considering a Sectional Title property know by now that they should first check how much the monthly levy is and what it covers before making an offer to purchase....
Buying your first home is possibly the largest purchase you will make, so it’s important to be well-prepared for this important milestone. “After two years of comparatively low-interest rates, we are still seeing considerable interest from first-time buyers who account for 60% of all BetterBond’s home loan applications,” says Carl Coetzee, CEO of BetterBond....
For trustees that want to create a harmonious environment in their Sectional Title schemes, the most important thing to do is ensure that they have a set of Conduct Rules that are modern, clear, and specific....
There is a lot that Sectional Title trustees and Home Owners’ Association directors can do to avoid large insurance claims arising in their housing schemes – and also things that they must do to avoid any claims that are submitted from being repudiated....
Community housing schemes should have compliant record-keeping systems, including those of their managing agents, in accordance with the Protection of Personal Information (POPI) Act....
For many buyers, sectional title living offers heightened security, affordability, and a more communal way of life. However, sectional title ownership comes with a variety of ownership responsibilities and legalities of which buyers are not always aware....
Whether you are a first-time property buyer, a seasoned investor, or considering downsizing, there are important questions you need to ask before buying a sectional title property....