How much do you pay for rent?

f2wohf

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Is it not possible to buy at that price point?
Foreigner means 50% deposit + repaying the Bond before my visa expires (in 4 years).

To buy my current place, I’d need 1.x million cash + R39000 of monthly repayments.

So, I’ve definitely scrapped the idea of buying in SA.
 

Hamster

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:(

I can't buy a house yet because I seem to be moving every two years. So to get a decent place here in JHB I'm paying R7500 pm which will likely go up to R8000 come Sept. (2 bed, 108m2) It makes me so VERY VERY sad :crying:


EDIT: Water + lights excl.
Fast forward to 2018 and rent has just been renegotiated for the next year...

R8800

Lol...yeah, being a landlord in JHB sure is profitable :rolleyes:
 

Honey Badger

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Fast forward to 2018 and rent has just been renegotiated for the next year...

R8800

Lol...yeah, being a landlord in JHB sure is profitable :rolleyes:
You think? R13 500 for 142m2. Thank god its our last month. And the owner offered to sell to us at R1 695 000. The fact that its in an estate is one thing, the fact that I hardly have a yard, no thanks.
 

f2wohf

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You think? R13 500 for 142m2. Thank god its our last month. And the owner offered to sell to us at R1 695 000. The fact that its in an estate is one thing, the fact that I hardly have a yard, no thanks.
My landlord makes a ROI of 5.4% excluding repairs and insurance but including levies.

That’s below inflation and pretty crappy to be honest.
 

signates

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My landlord makes a ROI of 5.4% excluding repairs and insurance but including levies.

That’s below inflation and pretty crappy to be honest.
This would only apply if you are working on the current value of the property. Do you know when he bought the property and for how much? I'm currently getting a return of 15% on a property I bought more than 6 years ago. If I were to sell today, the new owner would only manage a return of 6% working on current value and current rent.

It's definitely a renter's market based on current property values and rental.
 

f2wohf

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This would only apply if you are working on the current value of the property. Do you know when he bought the property and for how much? I'm currently getting a return of 15% on a property I bought more than 6 years ago. If I were to sell today, the new owner would only manage a return of 6% working on current value and current rent.

It's definitely a renter's market based on current property values and rental.
I’m calculating on the price he bought for, that I know from neighbors.
 

signates

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I’m calculating on the price he bought for, that I know from neighbors.
Buy to let yields have been low for a while now so he must have bought recently or over paid if he bought more than 4 years ago.

As long as buy to let yields remain below inflation, it's definitely a renter's market. Property value increases will slow and rent should catch up but it will take a while.
 

f2wohf

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Buy to let yields have been low for a while now so he must have bought recently or over paid if he bought more than 4 years ago.

As long as buy to let yields remain below inflation, it's definitely a renter's market. Property value increases will slow and rent should catch up but it will take a while.
He bought just before prices started to stagnate in Joburg and before rental prices crashed.
 

Splinter

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He never did but I know the price of the flat (could find its purchase value), the amount of the levies, the amount paid to the realtor. I can then deduce it.
How would you know the amount paid to the realtor? And if he had a deposit on its purchase price?
 

signates

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How would you know the amount paid to the realtor? And if he had a deposit on its purchase price?
It's actually quite easy and cheap to get the details from windeed for any property. It will indicate purchase price and any bonds taken out.
 

Splinter

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It's actually quite easy and cheap to get the details from windeed for any property. It will indicate purchase price and any bonds taken out.
Yep. Hence my post above (256). But he already farked up by saying he got it from the "neighbors" :)

And this from a supposed lawyer...

Edit: need to find the thread, but he is also paying rent somewhere else because his "SO" refuses to move out.
 
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