Author: Lauren

OMBUD SAYS SECTIONAL TITLE SCHEMES CAN RULE AGAINST AIRBNB

Until recently, opinion was divided about whether it is permissible to let sectional title units via Airbnb in terms of the Sectional Title Schemes Management Act (STSMA), but the Ombud for community housing schemes has resolved the matter, for now. “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 letting out their units and giving keys, remotes and security codes to one set of visitors after another,” says national management company Trafalgar’s MD Andrew Schaefer. He says insurance companies are also starting...

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Property Bill: Why you should be concerned

“Industry insiders say planned legislation will stifle the industry and drown agencies in red tape” The Property Practitioners Bill is set to heap new burdens on agents, making it tougher to operate, especially for newcomers. Industry watchers say the bill, which at the time of publication was still to be submitted to the Cabinet for approval, has squandered an opportunity to trim red tape. Agents will have to dedicate more time to compliance, they say. The bill brings a host of other professionals under the same “property practitioners” net as agents, including bond originators and property assessors. Lew Geffen...

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Property trend: The online effect

“Using social media to sell stock is increasingly gaining traction in the property market” Recently, a mother of four sold her house on Facebook. Well, so the headlines read, heralding a new era in house hunting where you can log on to Facebook and buy a house. On closer inspection, Shanty Helim, a British homeowner, sold her house using Facebook Live, showing viewers a 360° tour of her property and inviting them to make offers via Facebook Messenger. On even closer inspection, she used an online estate agent in the UK and insisted that her buyer view the house...

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Why your sellers’ main goal should be a quicker sale

“Home sellers should be after a quick sale, not a higher price right now” Take-home pay has shown year-on-year growth for the past six months and consumer inflation has been declining since January, so prospective buyers do have some more money in their pockets now than at the start of the year. But this should definitely not be seen by home sellers as a signal to raise their asking prices, says Shaun Rademeyer, CEO of BetterBond. “According to StatsSA, the rate of inflation has declined from 6,8% a year in January to 5.1% at the end of September, and...

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