What are the biggest challenges of the South African real estate market?
Discover key challenges shaping South Africa’s real estate market, from urban demand to affordability. Learn how to navigate property investments effectively.
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Frequently asked questions
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What fees and costs do I need to cover as a tenant?
As a new tenant you will have to pay your agent a letting fee (an equivalent of one week’s rent), a bont amount (up to 4 weeks worth of rent) and rent in advance (usually 2 weeks’ rent). There might be other expenses as well.
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What happens at the end of my lease?
You will find the expiry date of your fixed term tenancy within your tenancy agreement. Your property manager will be in contact with you well before this date to ask if you would like to renew the tenancy agreement for a specified period of time as agreed between you and the landlord. If this date passes without renewing your fixed term tenancy agreement, then your agreement becomes a periodic tenancy agreement.
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What is the difference between fixed term and periodic tenancy agreement?
Fixed tenancy agreement is made for a specific point of time, determined by a start and an end date. It cannot be terminated unless both parties agree on it. Periodic tenancy agreement, on the other hand, can be terminated by a notice both by a tenant and a landlord. A tenant must provide a landlord with a notice 21 days before moving out and a landlord must provide tenant with a notice 42 or 90 days before the tenant moving out.
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