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Property 24/10 - 305

26 May 2016

IEASA Western Cape to host business broker course
For the first time, IEASA - Western Cape will be offering a complete A-to-Z course in becoming a successful business broker. This is an intensive two-day seminar that will provide the knowledge and confidence to compete in this tough but rewarding industry, says Annette Evans, general manager of Institute’s Western Cape branch.

“The course will be presented by Mike Hindle, a business broker himself with 35 years’ experience covering hundreds of business transactions,” says Evans.

“It is expected that everyone attending this course will come away armed with a huge amount of knowledge, should they either want to start or develop within business broking.”
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Sectional title owners - buckle up for utility increases
Some city councils are planning on increasing their utility charges at levels way above inflation. This is according to Chris Renecle, MD of Renprop, a supplier of sectional title residential stock in Gauteng, who says that this kind of increase on basic services - which is completely out of kilter with logic and reason - is a reflection of the state of the municipalities.

He says Renprop’s Property Management division manages a number of townhouse complexes and sectional title residential properties, assisting the trustees with financial planning and the day-to-day running of the complex. They are therefore intimately involved in the collection of levies from owners - which cover the municipal accounts - as well as payment thereof on behalf of the bodies corporate.
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Selling deceased estate property must-knows
It is well known that in South Africa the sale of property must be recorded in a written contract and must be signed by the purchaser and seller. The sale of a property out of a deceased estate is, however, more complex.

Laurence van Blerck of Knight Frank Residential SA says ideally the deceased would have made a will and appointed a professional, such as the family attorney, to be the executor of the deceased estate. Alternatively, a family member may be appointed, together with an attorney.

Once the estate has been reported, normally within 14 days of death, to the Master of the Supreme Court, the Master will appoint an executor by issuing Letters of Executorship.
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What commuters around the world pay for housing
Knight Frank’s latest analysis - Commuter cities: how do housing costs and travel times compare? -looks at the average commuting times, housing costs and transport methods across eight major cities.

Kate Everett-Allen, International Residential Research for Knight Frank, says the findings show that although Los Angeles and Jakarta compare favourably to Hong Kong when it comes to property costs, commuting times can be cumbersome. Rome and Shanghai are all-round performers - offering both comparatively low housing costs and short commutes.

“The decision whether to buy a property in the city centre with a minimal commute or a more affordable property on the outskirts, where travel costs tend to be higher, is one that millions of commuters toy with every year - and one we thought merited further investigation,” says Everett-Allen.
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Distressed homeowners - there are ways to soften the blow
Proactively selling your home before legal action will almost always give you a better price for your property - as well as save on other expenses and adverse credit records that are incurred during the lengthy and stressful legal process.

“There are many steps a distressed homeowner can take, including a long-term payment arrangement (six to 12 months extension), or a short-term restructure of payments if they are falling behind in their bond payments,” says Calvin Ndlovu, head of operations at FNB Home Loans.

“However, if repaying your home loan is just not possible, customers need to seriously consider getting their bank’s help to sell their property on the open market, rather than going through the legal process.”
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