Covid-19’s Impact on the commercial property finance industry and property markets

By Klaus-Dieter Kaempfer Head: Commercial Property and Equity Investments, Absa The COVID-19 outbreak has had a systemic impact on the global economy, affecting many asset classes adversely across many geographies. The International Monetary Fund (IMF) recently published projections  which indicated that global growth will decelerate by -3.0% in 2020 in…

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Can I move? Alert Level 4 rules for tenants and landlords

South Africa’s lockdown is set to move to Alert Level 4 tomorrow, 1 May. The latest Regulations relating to the Schedule of Services and Framework of Sectors was gazetted and released on Thursday night, 29 April. They repeal all previous Regulations issued in terms of the COVID-19 pandemic dealing with the forced…

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11-point plan to post-lockdown economic recovery for SA’s property sector

By Tholo Makhaola, President of the South African Institute of Black Property Practitioners The South African Institute of Black Property Practitioners says already-vulnerable township businesses will bear the brunt of this pandemic if clear measures are not put into action to ensure a proper post-lockdown economic recovery for SA’s property sector….

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Lockdown: Separated parents allowed to move kids between houses – new regulations

Separated parents are now allowed to move their children between houses during the nationwide Covid-19 lockdown, provided they meet certain legal requirements. While government had previously been unclear about the issue, new regulations regarding the matter were gazetted on Tuesday. Separated or divorced parents who want to move their children between them during the…

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It’s official, no movement of children during lockdown. Unless…

What are the exceptions to the lockdown directives? Under the current lockdown directives, no child is allowed to be moved between parental homes, and must instead stay at the home of the primary caregiver, or the caregiver who can offer the best circumstances during the lockdown, for the duration.  Section…

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‘Fake news’: Department rubbishes letter claiming landlords can’t collect rent from tenants

The health department has dismissed claims that Health Minister Zweli Mkhize had barred landlords from collecting rent money from their tenants for the next 90 days. The letter, with the department’s letterhead, made the rounds on social media. It claimed that the health minister had gazetted the regulations to deal…

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Divorce on the rise due to lockdown: Experts share tips on how to keep the spark alive

Couple arguing. Only about six in 10 South African marriages get to celebrate a 10th anniversary and women are most likely to file for divorce and end the union. This is according to a 2018 statistical report on marriages and divorces by Statistics SA released this week, which found that about four…

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SA lockdown | Covid-19 funding measures put in place to buffer battered economy

South Africa will be under 21 days of lockdown from midnight on Thursday – with businesses in for a rough time as measures to break the spread of Covid-19 get serious.  On Monday evening President Cyril Ramaphosa addressed the nation detailing South Africa’s next step in its action plan to curb the…

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What lockdown means for tenants and landlords

For all your landlord/tenant issues please get in touch with us (Gauteng Area) Tel: 011 740 2326/7Fax: 0866 708 326Email: info@louwrenscoetzer.co.za 27 Mar 2020 South Africa is facing a major change in daily routine as President Cyril Ramaphosa has issued a 21-day lockdown in order to stem the COVID-19 pandemic – effective…

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Rental income and tax

Few of us ever test our powers of deduction, except when filling out an income tax form” (Laurence J. Peter of The Peter Principle) Letting out property can give you an excellent “annuity” income, and if that concept appeals to you and a buy-to-let property comes your way at the…

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What land expropriation without compensation will mean for homeowners in South Africa

Members of parliament met last week to discuss the long-awaited draft bill on land expropriation without compensation. With the draft bill set to be published for public comment in the coming weeks, there has been some fear-mongering on social media platforms suggesting that the proposed law will lead to Zimbabwe-like…

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The right to road safety

By Prof Hennie Klopper South Africa is internationally one of the most unsafe countries for road travel (see ‘South African road deaths vs the world’ https://businesstech.co.za, accessed 952018). Fourteen thousand of its citizens (38 per day) die on its roads and as many as an estimated 524 000 persons based…

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Is it worthwhile buying a fixer-upper?

Purchasing a fixer-upper can be an extremely beneficial financial endeavour. However, only if the buyer has taken the time to do their research and followed the right procedures to ensure they are making a sound investment decision. © victor zastolskiy – 123RF.com Irrespective of the kind of property the purchaser…

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What is Tax Crime?

Tax crime is manifested in many forms. Here are some prime examples: People don’t declare income in order to not pay the tax on that income. People lie about their expenses to reduce the tax they pay. For example they may lie about their business mileage, business expenses or even…

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Property Valuation Bill 2013

30 May 2013 EXPLANATORY MEMORANDUM ON THE PROPERTY VALUATION BILL 2013  BACKGROUND A central feature of the land redistribution and land restitution programme has been the acquisition of land on the basis of the ‘willing buyer willing seller (i.e. demand— driven and market —based) model, predominantly based upon the historical…

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Ekurhuleni valuation deadline extended

Ekurhuleni valuation deadline extended The deadline for inspection and lodging of objections to the valuation roll has been extended, and property owners now have until 17 May 2013, to do the aforementioned, according to the Ekurhuleni Metropolitan Municipality (EMM). The closing date of the public inspection period for the valuation…

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Reporting the estate of a deceased person

A deceased estate comes into existence when a person dies and leaves property and/or a document that is a will or is intended as a will. The estate must then be administered and distributed, either in accordance with the deceased’s will or, if the deceased did not leave a will,…

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Your rights and responsibilities as the client of an attorney

As the client of an attorney, you have the right • to professional, honest and unbiased advice at all times; • to be treated with professional courtesy, respect and fairness, regardless of your race, nationality, age, gender, sexual orientation or disability; • to privacy and attorney-client confidentiality; • to agree the type of service…

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How to buy a distressed/repo property?

How to buy a distressed/repo property? 09 Nov 2011 Now is a good time to buy distressed and repossessed properties thanks to low interest rates and available stock in the property market. A distressed property can be defined as property that is under a foreclosure order or is advertised for…

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Social networking tools such as Facebook, Twitter and MXit are becoming the easiest way to prove marriages have irretrievably broken down in contested divorces.

NIVASHNI NAIR | 10 October, 2011 00:44 – Times Live A wealthy Durban doctor created a fake Facebook profile as a “hot young thing” to gather evidence against her husband in their divorce battle. A Johannesburg businessman installed cameras in the study where his wife logged on to social networking…

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Destruction of a scheme

29 September 2011 Section 48 of the Sectional Titles Act 95 of 1986 (the “Act”) provides inter alia that the owners may by unanimous resolution agree to the destruction of the building, comprising a sectional title scheme. Section 49 of the Act, furthermore, provides that where the owners may also by unanimous resolution resolve…

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Selected building statistics of the private sector as reported by local government institutions May 2011.

  The value of recorded building plans passed by larger municipalities (at current prices) increased by 5,3% (R1 250,8 million) during January to May 2011 compared with January to May 2010. The biggest increase was reported for non-residential buildings (13,6% or R708,0 million), followed by residential buildings (6,9% or R699,3…

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Clarity on the Property Rates Amendment Bill

Source: http://www.moneyweb.co.za/mw/view/mw/en/page299360?oid=547884&sn=2009+Detail&pid=299360 ALEC HOGG: It’s Tuesday July 19 2011 and in this Boardroom Talk special podcast we speak with Yunus Carrim, who’s the Deputy Minister of Cooperative Governance and Traditional Affairs. Deputy Minister, the proposal for a hike in rates on second properties has released a firestorm. You have come…

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Mission Statement

Our Mission Louwrens Coetzer and Partners is a family owned law practice that strives to achieve results that exceed expectations through Our Commitment to Our Clients by Adding maximum value to their transactions. Being accessible, efficient, responsive and knowledgeable. Our Commitment to Our Communities Providing extensive and worthy pro bono…

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