How much do you pay for rent?

AstroTurf said:
I honestly just do not want to do the downgrade that buying would force on us just yet. We have a large house with a big garden that is secure and comfortable. It costs me under R4k including water, lights and garden services. What the hell could I possibly buy for that?
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Must be in a terrible area!
Unless prices wherever you are happen to be 50% of what they are where I live.
 
Rocket-Boy said:
Must be in a terrible area!
Unless prices wherever you are happen to be 50% of what they are where I live.
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Not at all. It's on a plot. I have been living here for years and have built up a good relationship with the owner.

I'm a low maintenance tenant that also happens to be willing and able to help in my own way when asked or even when not asked. I think she prefers having a good neighbor over cash.

It may also have something to do with the fact that I don't bitch, I simply fix it or ask to have it fixed.

Without my asking she has as an example lowered my rent once and stopped the yearly increase 3 times.

Apparently I am the only tenant that has never been late on a single payment.
 
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AstroTurf said:
I honestly just do not want to do the downgrade that buying would force on us just yet. We have a large house with a big garden that is secure and comfortable. It costs me under R4k including water, lights and garden services. What the hell could I possibly buy for that?
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I used to rent a place where the land lady didn't increase my rent and made it very affordable for me because I paid on time, looked after her place if she was away, etc. but there is a problem with this.
You're setting yourself up for a very nasty surprise if the property is ever sold (owner passes away or moves).

Are you using the opportunity to save up for a big deposit on your own property?
Is your budget maxed out (living it up) and what would happen if your housing expenses increased by 50 to 75%? Would you be able to absorb the budget shock?

Sooner or later you will have to move and what will you do then if rental is unaffordable?
I know someone in this predicament at the moment. Her rent was R2400 per month (excl. water and lights) but the owner is selling and she can't find any thing affordable to rent.
 
Paul_S said:
I used to rent a place where the land lady didn't increase my rent and made it very affordable for me because I paid on time, looked after her place if she was away, etc. but there is a problem with this.
You're setting yourself up for a very nasty surprise if the property is ever sold (owner passes away or moves).

Are you using the opportunity to save up for a big deposit on your own property?
Is your budget maxed out (living it up) and what would happen if your housing expenses increased by 50 to 75%? Would you be able to absorb the budget shock?

Sooner or later you will have to move and what will you do then if rental is unaffordable?
I know someone in this predicament at the moment. Her rent was R2400 per month (excl. water and lights) but the owner is selling and she can't find any thing affordable to rent.
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Yes I am but no rush at all unless possibly the EFF get their way :whistle:
 
AstroTurf said:
Yes I am but no rush at all unless possibly the EFF get their way :whistle:
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If the EFF get their way I'll be selling and moving my money off shore (via whatever means possible) as fast as possible.
 
Lol...I am paying R15 500 per semester for this student accomodation. Get my own room, share the kitchen with 1 other person. I pay for electricity on top of that. I hate sharing, want to get a nice bachelor flat...
 
koeks525 said:
Lol...I am paying R15 500 per semester for this student accomodation. Get my own room, share the kitchen with 1 other person. I pay for electricity on top of that. I hate sharing, want to get a nice bachelor flat...
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The student village in Summerstrand?
 
Sorry for reviving - what are your guys increases?

My tenant had stories and was battling for cash earlier, so I've helped her by stalling increases on the rent. I've just check the original lease and didn't realise how quickly time flies.

She started 1 Sep 2011 at R9,500.00 and I only increased 3 years (Oct 2013) later to R9,750.00 - less than 3% in the time. Her new lease ends now and I'm planning on giving a 6 month to take it to 30 April 2015 and I'm planning on asking for R10,000.00.

That's R500.00pm increase over 4 years which I think is great for her?
 
Dolby said:
Sorry for reviving - what are your guys increases?

My tenant had stories and was battling for cash earlier, so I've helped her by stalling increases on the rent. I've just check the original lease and didn't realise how quickly time flies.

She started 1 Sep 2011 at R9,500.00 and I only increased 3 years (Oct 2013) later to R9,750.00 - less than 3% in the time. Her new lease ends now and I'm planning on giving a 6 month to take it to 30 April 2015 and I'm planning on asking for R10,000.00.

That's R500.00pm increase over 4 years which I think is great for her?
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Definitely.

I think most people expect a 10% increase every year.

But then you need to weigh that against finding a new trust worthy client. Sometimes it's worth it to cut back on increases to find someone that always pays on time and doesn't give you too much trouble.
 
I always thought 10% was unrealistic though - do people do that?
 
No *shudder*

The other wasn't a stripper - she was just hot ;) But I sadly had to evict her and her husband.
 
Dolby said:
I always thought 10% was unrealistic though - do people do that?
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Inflation linked at a minimum imo (we all know "true" mid class inflation is much higher - med aid, petrol, food, etolls are just killing it).

I know my dad prefers a zero hassle trusted lessee even if that means getting less than market rate. And realistically considering how bad things can go if you get a bad lessee / empty house then that makes sense to me.
 
I'm not in Sandton though - but the property around me rent at R13,000.00+, so she's already getting a decent price. Fair enough the house isn't in as great condition as the ones around me, but she is getting a discount due to that.

However, it a 5% increase in 3.5 years I feel is fair

EDIT : Actually more they fetch more http://www.property24.com/houses-to.../gauteng/4471?sp=pf=10000&pt=15000&bd=3&bth=2

Doing a filter on Property24 between R10,000 and R15,000.00 gives only 3 results - R11,000, R13,500.00 and R15,000.00
 
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R3800 in Paarl for a 2 bedroom with a yard, it's going to be 4k by next month. I'm renting and plan on building a house next year rather.
 
I'm charging R3500 for a 1 bed 50sqm Granny flat atm.... will hike it to around R4k early next year...
 
Ok - I fired the mail off, will let you know the reply ;)

But it's generally single mom and can't afford - in which case my renovations that I planned mid next year will have to be brought forward.
 
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