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5 October 2017

Sectional Title owners can oppose Airbnb letting
South Africa - Trafalgar
Until recently, there were two schools of thought about whether it is permissible to let sectional title units via Airbnb in terms of the Sectional Title Schemes Management Act (STSMA), but their differences appear to be have been resolved for now by the Ombud for community housing schemes.

"Some people argued that Airbnb letting amounted to running a business, which you are not allowed to do in residential sectional title (ST) schemes," says Andrew Schaefer, MD of national property management company Trafalgar, "while others said Airbnb letting was actually no different to regular letting - or to having a friend come and stay in your spare room for a while - as the purpose of use would still be residential.

"However, there is no doubt that Airbnb letting does pose a potential security risk, especially where many owners in a complex are not living there themselves, but just letting out their units and giving keys, remotes and security codes to one set of visitors after another."
ST owners can oppose

Property Barometer
South Africa - FNB
House Price Indices by Major Province and Major Metro

Examining the FNB House Price Indices for the country’s major regions, gradually slowing price growth in what has been the country’s top performing region in recent years, the Western Cape, continued in the 3rd quarter of 2017.

The year-on-year average house price growth for the Western Cape measured 4.3% in the 3rd quarter, slower than the 5.2% revised rate of the previous quarter and now significantly slower than the 11.1% revised multi-year high recorded in the 1 st quarter of 2016.

This further price growth slowing means that, for the 1st time since late 2013, the Western Cape no longer has the fastest growing house price index. The FNB KZN House Price Index accelerated to a slightly faster year-on-year growth rate of 5.0% in the 3rd quarter of 2017.
Property Barometer

Increase your chances of securing a rental
South Africa - ReMax
As the demand for rental properties continues to outstrip the current inventory available, it has become increasingly more difficult for tenants to find the right property, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.

“The demand for rental homes is unprecedented high, while there is simply not enough properties to go around. Tenants are looking for the best place for the best value, but currently, it seems that many rental agencies are unable to assist because of the lack of inventory out there. If a rental property is within reasonable price range, there is often a waiting list of potential tenants eager to get into the property. For tenants that have missed out or lost a place because another applicant was accepted, the process can be frustrating - especially if time is a factor. However, there are ways that tenants can improve their chances of finding their ideal rental property,” says Goslett.

Here are some basic tips and tactics to help tenants get the property they want. These tips are especially helpful for good tenants with excellent credit and track record.
ReMax

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