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Property 24/10 - 312

14 July 2016

Be wary of illegal commercial property advertising boards
Along with the resurgence in sectional title office space has come a proliferation of illegal advertising boards for commercial property space, which is only doing a “disservice” to this sector of the property market.

This is according to Chris Renecle, MD of Renprop, who says that while most property marketers make use of advertising boards to showcase their vacancies and investment opportunities, the mass of illegal commercial property advertising boards in some regions of Johannesburg has taken this marketing tool too far.

“Some of these boards are not even linked to specific premises, or are on council-owned property,” says Renecle, who asks why these obviously illegal boards are not being removed. “Usually the use of marketing boards to advertise a property is pretty closely monitored and governed by the local authorities, and any illegal boards are usually taken down or removed fairly quickly.”
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Cape Town agents - show house board permit renewals are due
Cape Town estate agents and auctioneers are reminded that they need to register individually for permission to use show house boards and directional signage to advertise properties on show days.

Annette Evans, regional manager of the Institute of Estate Agents’ of SA’s Western Cape branch, says annual registration takes place from 1 July to 31 July 2016 for all agents and interns.

“It is a new legal requirement for all those who transact with the City to provide their Business Partner (BP) number, which can be found on their rates accounts,” says Evans.

“If, however, an agent does not have a BP number, they should provide a copy of their identity document, and the City will create a BP number. Interns need to supply the City of Cape Town with the BP number of their principal in order to get their permits.”
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Six golden principles of buying property
The simple truth is that not all property purchases are equal. While one property investment could become the cornerstone to wealth creation, another could lead to financial ruin. What is the difference between the two?

According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, in order to ensure success and make the most out of their property purchase, buyers need to be well informed, savvy and make the correct buying decisions from the start.

He says decisions made during the purchasing process will have a massive bearing on the potential return on the buyer’s investment.

Goslett says that merely purchasing a home at fair market value doesn’t guarantee that the buyer will see healthy returns over the long term. He says there are certain golden principles for any property acquisition that buyers would be wise to follow.
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Property value vs marketability: What sellers need to know
Those who have decided to list their property on the market will all have the common goal of maximising their home’s potential selling price.

Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett, says the first distinction that sellers need to make when listing their property is between the actual value of their home and its current marketability. He says there are a number of elements that determine a home’s value, just as there are aspects that impact its marketability in the current economic environment and phase of the market.

Goslett says while the value of a property is determined by looking at things such as its type, size, features and configuration, marketability is more about the readiness of the property to be sold. This relates to aspects like the home’s condition and aesthetic appeal.
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When trees cause problems in sectional title schemes
When large trees in sectional title schemes become overgrown and unruly they can cause problems, not just in the owner’s garden, but the neighbours’ as well.

This can lead to tension between the two parties if things are not dealt with properly, says Michael Bauer, general manager of IHFM property management company.

“Whichever side of the boundary the tree is on, it is that owner’s responsibility to cut back branches, trim any roots causing damage and prevent any damage to the fence or wall which may be caused by the tree,” says Bauer.

“However, what must first be established is whether the garden is an exclusive use area or common property.”
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