Landlord Tips & Tricks

Priapus said:
As a first rental property; what's the right property to buy? Something in a complex or rather a flat?

What sort of things should one consider, besides the "If its empty, can you afford it" rule?
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Dont buy a house (its to much risk). Buy in a good managed sectional title estate (with low levies).

If it stands empty, questions to ask :

1) Can you afford the bond ?
2) Can you carry ALL costs ?
3) What if you lose your job now ?

Its all bad questions, but realistic ones !
 
zerocool2009 said:
Dont buy a house (its to much risk). Buy in a good managed sectional title estate (with low levies).

If it stands empty, questions to ask :

1) Can you afford the bond ?
2) Can you carry ALL costs ?
3) What if you lose your job now ?

Its all bad questions, but realistic ones !
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Yes definitely not going to buy a house to rent out. But thinking maybe I start small and go for a small flat? Or rather a unit in a complex?
 
Priapus said:
Do you consider an estate the same thing as a complex?
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Again you need to ask what is your RISK that you want to take! If you want to buy a house in an estate (good luck) ! Alot can go wrong in that scenario ....
 
Priapus said:
Yes definitely not going to buy a house to rent out. But thinking maybe I start small and go for a small flat? Or rather a unit in a complex?
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If I can be honest with you (even 3 bedroom apartments is risky) ! Those go for R1.6KK and up (and if you want to much rent it will stand vacant).

Then we can talk about the power of "garden units" vs "top floor apartments". Both have pro's and con's. As tenants needs differ, not everyone wants a garden (but then again stairs to consider).
 
zerocool2009 said:
If I can be honest with you (even 3 bedroom apartments is risky) ! Those go for R1.6KK and up (and if you want to much rent it will stand vacant).

Then we can talk about the power of "garden units" vs "top floor apartments". Both have pro's and con's. As tenants needs differ, not everyone wants a garden (but then again stairs to consider).
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I'm not looking to spend anything more than a max of 800k.
 
zerocool2009 said:
Be nice and pay that (you can claim that with SARS expenses).

Doing that is to push tenants to buy !
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Nope I charge a decent rental, skip increases if economy crappy.

Only 2nd tenant in more than 15 years. This tenant now about 10 years almost.

Treat them decently, like you'd want to be treated and tenants will be great! At least with my 2 to date.
 
Have 4 flats, all sectional title. One I have had for 22 years and at the time it cost me R80 000. Today these flats are advertised for R1.2m and up

3 of the blocks are well maintained

The one I have had for a long time has had a succession of useless trustees who did absolutely no maintenance for 20 years. Spalling is falling off the building, the windows leak, security is abysmal. They installed CCTV in 2014 and 8 of the 11 cameras have been stolen. The pool is green. The DSTV distribution box was vandalised

A new BC was elected in May and the chairman is a no-nonsence type. He has obtained quotations from various contractors. The result is a R2.3m special levy for which all 48 owners have to pay R48k each. At least 30% say they have no money and cannot or will not pay

SO beware of sloppy BCs. Although flats are advertised for R1.2m, none have sold for 10 months
 
Saba'a said:
Nope I charge a decent rental, skip increases if economy crappy.

Only 2nd tenant in more than 15 years. This tenant now about 10 years almost.

Treat them decently, like you'd want to be treated and tenants will be great! At least with my 2 to date.
Click to expand...

You can slightly increase your rent (and write off the other things via SARS), and that would benefit you more ! Just my 2c that I learned in time
 
I need a recommendation for a very good house cleaning service in Cape Town.

Company must provide all materials required.
Cost for the service will be coming from the tenant.

Neither am i looking to rip off the tenant. I'm done with supervising people and going out to purchase all the items required.
 
I can recommend Titanium Corporate Services. The contact person is Jo-Anne Hadskins who is located in Southfield. Mention my name if you call her - 0610291944
 
Priapus said:
As a first rental property; what's the right property to buy? Something in a complex or rather a flat?

What sort of things should one consider, besides the "If its empty, can you afford it" rule?
Click to expand...
Complex and start small. A one bedroom in a high demand area is better than a 3 bedroom in a lower demand area. It's more important to be able to get high occupancy...
 
chrisc said:
Have 4 flats, all sectional title. One I have had for 22 years and at the time it cost me R80 000. Today these flats are advertised for R1.2m and up

3 of the blocks are well maintained

The one I have had for a long time has had a succession of useless trustees who did absolutely no maintenance for 20 years. Spalling is falling off the building, the windows leak, security is abysmal. They installed CCTV in 2014 and 8 of the 11 cameras have been stolen. The pool is green. The DSTV distribution box was vandalised

A new BC was elected in May and the chairman is a no-nonsence type. He has obtained quotations from various contractors. The result is a R2.3m special levy for which all 48 owners have to pay R48k each. At least 30% say they have no money and cannot or will not pay

SO beware of sloppy BCs. Although flats are advertised for R1.2m, none have sold for 10 months
Click to expand...

Sounds like where Tygervalley is heading, it's special levy after special levy and nothing improves.
 
3Gee said:
I need a recommendation for a very good house cleaning service in Cape Town.

Company must provide all materials required.
Cost for the service will be coming from the tenant.

Neither am i looking to rip off the tenant. I'm done with supervising people and going out to purchase all the items required.
Click to expand...

#1 why do you have Vinny's ape?
#2 Marvelous Maids does the full spectrum, no tools required.
 
Mike Hoxbig said:
Complex and start small. A one bedroom in a high demand area is better than a 3 bedroom in a lower demand area. It's more important to be able to get high occupancy...
Click to expand...

Thanks for that. I guess complexes are a safer bet, and they are generally affordable to the average tenant. Will look at 2 bed or something and go from there. Thinking max 800k for the first property.
 
Thor said:
#1 why do you have Vinny's ape?
#2 Marvelous Maids does the full spectrum, no tools required.
Click to expand...

Vinny who ???

Marvelous Maids have some really bad reviews , they come across as a placement company.
 
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