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Property 24/10 - 403

10 May 2018

Know this about your sectional title unit and Airbnb
Many people who own a second property are owners of a unit in a sectional title scheme for investment purposes. These units have largely been let to tenants for rental income, but more recently, Airbnb has changed the landscape of property rentals and how owners are able to derive an income from their investment properties.

According to Snymans Incorporated Attorneys, this is what you need to be aware of...

Airbnb’s benefits to homeowners
The worldwide attention garnered by Airbnb and the overall convenience that these rentals offer travellers means that it has never been easier for owners to find short-term tenants.
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Why good neighbours make for higher home values
When new owners moved into the house across the road, were you the neighbour who went to welcome them with a pizza and a bottle of wine so they didn’t have to make dinner after a long day of unpacking? Or were you the one checking out their furniture from behind your curtains?

It’s unfortunate, but these days neighbours tend not to know one another as well as they used to, perhaps for fear of “getting too involved” in other people’s lives, or perhaps just because high walls and security systems make it difficult to even start a friendly conversation.
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Land reform to be aligned to economic growth
President Cyril Ramaphosa says government’s land reform policy will be implemented in such a manner that it will bolster economic growth and create jobs without negatively impacting on agricultural productivity.

The President said this when he responded to oral questions in the National Assembly on Tuesday.

Opposition leader Mmusi Maimane had asked for the details of the assurances that the recently appointed special economic envoys will give to potential investors that South Africa can meet its National Development Plan targets despite its plan to expropriate land without compensation.

President Ramaphosa said for South Africa to grow faster and to build a transformed and inclusive economy, land reform was necessary and urgent.
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Pretoria’s new green mixed-use Loftus Park precinct officially opens
Loftus Park, the new mixed-use green precinct next to the Pretoria’s legendary Loftus Versfeld Stadium, celebrated its official opening on 3 May.

Loftus Park is in the heart of Pretoria’s sporting, cultural, diplomatic and schools hub. Its First Phase, which includes an exciting open-air piazza surrounded by restaurants, convenience retail, hotel, a premium Virgin Active health club, added parking for stadium game-goers and some 29 000m2 of A-grade office space, began trading on 29 March this year.

The property was launched by Executive Mayor of the City of Tshwane Solly Msimanga at an official ribbon cutting ceremony attended by representatives of its owners and developers, JSE-listed diversified Real Estate Investment Trust (REIT) Redefine Properties (JSE: RDF) and Abland, one of South Africa’s top property development companies. Loftus Park’s tenants and other key stakeholders also joined the celebration.
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Want to buy a holiday home? This may be a more sensible option
After a 10-year slump, the Western Cape holiday home market is showing encouraging signs of revival.

“Enquiries for this type of home were, I have been told, far higher in the recent December/January and Easter holiday periods than they have been for a very long time, and it is particularly pleasing that estate agents serving the holiday areas have reported that there was also a noticeable upturn in the enquiries from international buyers,” says Rowan Alexander, Director of Alexander Swart Property.

On the Southern Cape coast, i.e. Cape Agulhas to Struisbaai, which he recently visited, Alexander says impressive sums of money are being invested in big upgrades or new homes.
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