Real Estate Investor Magazine South Africa September 2015 | Page 12

PROPERTY ALERTS

The
Bad

The
Good

Increased A Rental for
elderly to be reduced
in Johannesburg
wareness Of Antibribery Compliance

T

he
Gauteng
Rental
Housing Tribunal has
ordered the City of
Johannesburg to decrease rentals
for thousands of elderly people
living in Johburg council old age
homes from September 1.
Currently
residents
pay
between R230 and R480 per
month, depending on flat size
Residents pay between R230
and R480 a month, depending
on the size of the flat, while
pensions vary between R1 350
and R 1 410.
A tribunal, brought about
by The Old Age Villages
Association, which comprised of
26 villages, ruled in their favour
in June this year.
The housing council has
reduced the rental to R180 a
month for a bachelor unit to
R360 for a one-bedroom unit.

10

SEPTEMBER
SEPTEMBER2015
2015SA
SAReal
RealEstate
EstateInvestor
Investor

Bad Debt
stacks up

I

rresponsible spending is
increasing as South Africans
have done little to amend
their spending habits after the
credit amnesty cleared the credit
slate.
There was clear evidence that
consumers had not changed their
behavior and that the credit
amnesty had largely failed to
change consumer behavior.
It seems that many South
Africans used the credit amnesty
as an opportunity to build up new
debt as they became eligible to
borrow money once again. Thus
negating the original purpose of
the credit amnesty.
An increase in the number
of consumers applying for a
debt review is a sure sign of the
deteriorating situation

Thely
Ug

SA Economist
injured in
home invasion

E

conomist Dawie Roodt
was seriously injured
when
armed
robbers
broke into his home in Pretoria
In the lette