I have had several investment properties over the years. I have sold all but one now, so my current property investment portfolio is limited to the property I currently own, and live in, in the WC (mortgage-free), and a sectional-title property I own in Windsor, Randburg, GP.
I bought the latter property as an investment many years ago, and have owned it for about 11 years. I have been fortunate that my tenant has never failed to pay me the rent every month.
The property is a sectional-title unit in a complex, and the Body Corporate is responsible for the general upkeep of the complex ... for a fee of course, which is billed to me in the Managing Agent's monthly account.
The amount is made up of the Sectional Title Levy, plus water used by my tenant, plus any repair costs I may be billed i.r.o. general upkeep/maintenance of the complex.
I had a pre-paid Elec meter installed some years back, which prevents my tenant running up a huge electricity account, which I would be liable, as the owner, to pay.
EDIT: I still have a mortgage on the investment property above, only because when I do my SARS tax returns, I can claim the mortgage interest I pay to my bank as a legitimate expense incurred in generating the rental income.
