Where the full term of the home loan period is reached and the account reflects a zero balance and the owner elects to keep the home loan open, the owner should be aware that monthly bank service fees as well as the insurance premiums (if applicable) will be levied by the bank for as long as the account is open.
The ramifications and implications of South Africa’s Capital Gains Tax are these days fairly well understood by the business community and those with substantial assets, but the average home owner and smaller property investor have quite often never really investigated or got to grips with the Act.
Owners of units in sectional title schemes who do not pay their levies place an unacceptable burden on the other members of the scheme.
When renting out a property, the landlord should have signed a mandate with his agent if he has employed one, which sets out the terms of the service contract between them.
People who occupy private property illegally are difficult to evict and this process will often take the landlord many months to do, causing great loss in earnings and time.
Having an access bond is one of the smartest ways you can manage your home loan as it allows you to withdraw the extra money that you’ve deposited, when you need it.
The new Credit Amnesty Bill was received with much anticipation and expectation. Especially for many South Africans living with a track record of unpaid debt, they were presuming this would be their rescuer and a Bill which will remove all traces of current or previous bad credit records. “This is very definitely not the case [...]
Landlords, particularly DIY landlords tend to use a general lease agreement that they have possibly bought from their stationers, but they don’t realise that they can adjust their lease agreements to fit in with their individual needs.
Just on 30% of declines from banks come about because the credit bureaux have data showing that applicants have, at some stage, had a court judgement against them.
Just as tough economic times have had their impact on the housing market and those looking to own property, it has also affected many tenants and landlords within the residential rental market, says Adrian Goslett, CEO of RE/MAX of Southern Africa. He notes that while some landlords may have tenants who are no longer able [...]