Newsroom
You have to share your rent with SARS
If you own one or more rental properties, the SA Revenue Service (SARS) requires
you to draw up financial statements showing your expenses and profits in relation
to these properties – and to pay tax on your profits.
Many private landlords don’t know this and believe they can just pocket
whatever rent they receive without reference to SARS, but RentalsDOTCom, the
rental property management division of Harcourts Africa, advises that this is
actually a contravention of the Income Tax Act.
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Get a foot in the door with rent-to-buy
Although the banks currently have several mortgage products available especially
for first-time buyers, it is still difficult for many to qualify for a home
loan due to the stringent requirements of the National Credit Act...
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Divorcing couples must still pay rent
Is the lease on a home tenanted by a couple married in community of property
automatically cancelled if the couple gets divorced?
Not necessarily, and RentalsDotCom, the rental property management division
of Harcourts Africa, notes that there have been court decisions that the landlord
is entitled to continued payment of rental in such cases, until the lease either
expires or is properly cancelled.
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Get your lease right
14 April 2010
Whether you’re a landlord or a tenant, you should have a written lease,
and make sure it contains certain essential clauses.
That’s the advice of RentalsDotCom, the rental property management division
of Harcourts Africa, which says that although a verbal lease is legal, it is
preferable to have a written agreement to avoid any misunderstandings or disputes
in future.
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