RESIDENTIAL
Another imperative on the micro property development journey is compliance . Entrepreneurs cannot build or renovate a property without knowing the zoning of the site or ensuring that their plans are approved . It is also important that property entrepreneurs do their research and understand the challenges involved in a rental property business . That is why we strongly encourage all developers to network , participate in forums and learn from people who are already in the property business .
Along with this , property developers need to demonstrate ongoing accountability . We require those we fund to send us proof that they have paid their municipal bills and are up to date with SARS . Additionally , we inspect the property to ensure that it is being well managed , there isn ’ t water leaking into the street and no degradation of the property for example , because we want the value of the property to appreciate rather than depreciate .
uMaStandi client , Athi Matinise ’ s property Brahms Court .
56 REI MAGAZINE AUGUST