The Rental Housing Tribunal: The Unsung Hero of South Africa’s Rental Market
Renting or leasing a home should be simple, but when it turns into a headache, the Rental Housing Tribunal (RHT) steps in to help. Established under the Rental Housing Act No. 50 of 1999, the tribunal provides a free, fair, and accessible way for landlords and tenants to resolve disputes, without the stress or cost […]
A Step-by-Step Guide to Buying a House in South Africa
Purchasing a home is an exciting milestone, but without proper guidance, the process can be daunting. South Africa’s property market has unique legal and financial steps that buyers must follow. Whether you’re a first-time buyer or an experienced investor, this guide will walk you through each stage, from securing financing to transferring ownership, ensuring a […]
Renting vs Buying: The Pros and Cons
In a lowering interest environment, tenants are reconsidering their priorities. Driven by reduced interest rates and more lenient loan criteria, tenants are starting to have their sights firmly set on owning a home. While many—particularly the ‘millennial generation’—chose to travel and live more ‘freely’ in the past, priorities have since changed. The pressing question right […]
Understanding Homeowners Associations (HOAs)
If you are considering buying a property in a housing development, it’s essential to understand what a Homeowners Association (HOA) is and how it operates. HOAs are legal entities responsible for managing and regulating housing development schemes. Although homeowners own their individual properties, the HOA maintains and oversees communal infrastructure, such as roads, security systems, […]
Are You Obligated to Pay Arrear Levies When Purchasing a Sectional Title Unit? Part 1
Recently, the High Court and the Supreme Court of Appeal (SCA) was required to interpret Section 15B(3)(a)(i)(aa) of the Sectional Titles Act 95 of 1986 in relation to a sale in execution in the case of the Body Corporate of Marsh Rose v Arno Steinmuller and others. The Sectional Titles Act 95 of 1986 stipulates […]
Complex Living: Be Aware of the Hidden Costs
When considering the purchase of a unit within a complex, it’s crucial to look beyond the surface-level expenses such as the advertised levies. Without thorough research, potential buyers may find themselves facing unexpected financial burdens. The structure of sectional title schemes In sectional title schemes, you own your unit but share ownership of the property’s […]
Should sellers provide approved building plans when selling property?
The simple answer is no. However, the National Building Regulations and Building Standards Act mandates that local authorities approve building plans for the construction, alteration, or conversion of a building. Consequently, if approved plans are absent, the property owner would be committing a statutory offence. Once signed by both parties, an offer to purchase becomes […]
Navigating the real estate market: Tips for buyers
Understanding the real estate market is crucial when buying or selling a property. The market’s current favour, whether for buyers or sellers, significantly impacts your decisions and strategies. Buyers’ market: When the real estate market leans towards buyers, it signifies that there’s an abundance of properties available for sale compared to the number of active buyers […]
The ups and downs of property co-ownership
Property ownership is no small feat. It is one of the most reliable forms of investment and one of the biggest items that most people have on their financial “to-do” lists. Unfortunately, it is not always an easily achievable goal. Property ownership has always been a costly endeavour, and in recent years the age of […]