Real Estate Investor Magazine January/February 2024 Edition | Page 70

Rental Housing Fund The Rental Housing Fund targets entities requiring additional funding for rental housing projects , providing equity-type loans for favourable financing terms . Under the Rental Housing Fund the GPF will invest up to 30 % of the total project costs depending on the discretionary assessment of the project needs . The GPF will provide 100 % funding for projects with total loan exposure of R10 million or below .
Who Qualifies ?
• A potential project that can yield a minimum of 15 affordable housing units in the Gauteng Province .
• A company that can demonstrate access to unencumbered capital of a minimum of 5 % of total project cost as equity .
• The entity must demonstrate to GPF that they have the technical resource capacity to successfully complete the project as well as efficiently manage the property thereafter .
• A project that is ready for implementation from a town planning perspective
Types of projects funded under the Rental Housing
• Inner-city residential refurbishments of dilapidated buildings .
• Conversion of offices to residential units
• Greenfield developments
Essential Documentation : What you need for a successful Application
• Comprehensive Business Plan
• Recommended Business Plan framework is available on request
• Company Registration documents
• Tax clearance certificate .
• Essential project information ( Approved correct Zoning , Geotech , Elemental bill of quantities )
• Plans and elevations .
• Proof of ownership ( OTP )
35 FEB 2024 Real Estate Investor Magazine