Despite the pessimistic predictions made in 2018 concerning South Africa’s rental market, the year 2019 is proving to be a relatively positive time for rental properties.
According to PayProp’s Rental Index for Q1 2019, Q4 2018 was a clear turning point in the rental market. With experts now forecasting a return to slow and steady growth for the rest of the year, it appears that now is a particularly good time to rent.
Jacqui Savage, National Rentals Manager for the Rawson Property Group, encourages landowners not to be put off by the recent downturn. ‘Just like the property sales market, rental markets are cyclical with natural ups and downs, and the recent “down” was neither completely unexpected nor without a valuable purpose.’ In the long run, slower growth periods actually help to protect the value and sustainability of rental properties by keeping the market in line with consumer needs and demand. Whilst the market remains somewhat sensitive and complex, the predicted, consistent growth, couple with a boost in buyer confidence, should leave landlords feeling positive.
For more advice from Savage, for both tenants and landlords, see here.
Reducing Your Insurance Bills With Neighbourhood Watch
Being part of an organised neighbourhood watch scheme can both reduce insurance premiums by up to 5% and increase the value of the neighbourhood’s properties. Living in an area with a higher crime rate means that you are more susceptible to burglary and break ins. As such, these areas are more likely to have a high insurance cost. Conversely, a safer community will lower the cost of your insurance. That is why neighbourhoods with an active neighbourhood watch scheme who are connected digitally can dramatically cut down on their insurance bills.
OurHood is purposely built for connecting neighbours and strengthening communities, ultimately making them safer areas to live in. By joining OurHood, you can help to not only reduce your own living costs, but those around you too. Partners who bring residents into the Ourhood community will receive R5 per user signup which will be used to further improve the neighbourhood. So what’s stopping you? Follow this link to sign up and join the hood.
The OurHood Team 🙂
Connecting Neighbours, Strengthening Communities