There has been quite a buzz over the past few months regarding the Rental Housing Amendment Act, in the belief that a date will soon be set for the implementation of this new legislation, says Tobie Fourie, national rentals manager for the Chas Everitt International property group.
The deadline for accountable institutions to meet the amendments of the Financial Intelligence Centre Act, No. 38 of 2001, as amended by the Financial Intelligence Centre Amendment Act, Act 1 of 2017 (FICA) legislation, which was introduced to counteract money laundering and the financing of terrorism, is fast approaching on April 2, 2019.
Although a date is yet to be set for the implementation of the looming Rental Housing Amendment Act, many of the proposed changes, including criminal liability for non-compliant landlords, have sparked considerable concern.
It’s every landlord’s nightmare: being stuck with a tenant who doesn’t pay rent or isn’t looking after your property and refuses to move out, no matter what you do.
While a written lease is not a legal requirement when renting residential property in South Africa, it is recommended that everything be committed to writing.
The enormous number of imponderables that are about to impact property investors means that to keep the asset performing at optimum levels, negotiation and compromise are the rule right now

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