TUHF tennis , as well as an outside braai area . The blocks will also have a common laundry area for tenants to do their washing and drying . Security is critically important to give tenants peace of mind . As such , we have introduced physical access gates , cameras throughout the buildings , and will be installing biometric scanners for access control prior to opening ,” adds Moggee .
“ Our existing team of managers will oversee the rental aspect of the accommodation while we focus on the renovations . We also have a close working relationship with NSFAS ( National Student Financial Aid Scheme ) so that we know exactly how to structure our agreements to benefit students from a rates perspective ,” says Moggee .
Moggee says that without the assistance of TUHF , none of this would have been possible .
Western Cape Affordable Housing Potential Regional manager for the Cape region at TUHF Western Cape Velda Derrocks says that there are still significant opportunities for savvy investors looking to enter the affordable residential sector as new areas for development become available .
Property Hotspots The areas of demand have been guided by the tourism industry and the international travel and work sector . Our focus area , the Voortrekker Corridor , was growing significantly leading up to the pandemic last year . This was driven by the need for quality and affordable residential accommodation ,” says Paul Nel , Western Cape based Portfolio Manager at TUHF .
By engaging with the market we want to attract the right type of entrepreneurs and developers ." Says Nel . Much of the focus turned to the kitchen and service market where more than one kitchen would share a larger space / kitchen or even shared space to produce takeaway food for delivery .
“ We have also seen significant interest in new areas like Boston and across the eastern seaboard past Blouberg and Table Bay . Historically , these areas see much investment from long term rental investment . That has changed with zoning rights in place creating significant potential for affordable housing there ,” says Nel .
Changing Dynamics Velda Derrocks , regional manager for the Cape region at TUHF , agrees . “ Many of the vacancies are driven by properties in the CBD and AirBnB units that are not used or being put out in the market for normal rental .”
Nel believes that because the City Council only approves a limited number of new developments annually , and due to the Council ’ s thorough understanding and application of town planning and associated laws , there is more manageability of the supply and demand curve .
SA Real Estate Investor Magazine FEB 2022 15