RENTAL FEES AND COSTS
Cost and Fees of Renting
Whats New:
This is La Grande's New Web Site.
February 2011
Please feel free to give your comments on La Grande's new website, by clicking on Contact Us in the Main Menu.
Current News
Interest rate Cut
November 2010
On 18 November 2010 The Reserve Bank has anounced that the repo rate is reduced by 50 basis points. This means that the banks will reduce their prime lending rate down to 9%.
Recent Events
No Transfer Duty or Capital Gain Tax?
February 2011
For those of you who have their primary residence registered in a CC., Trust or Company, now have the opportunity to transfer the property into your own name, with out paying transfer duty or capital gain tax. Before you take any action, consult with your finacial advisor to establish whether this will be to your advantage. Then consult with your transferring attorney to establish whether you will qualify not to pay transfer duty and capital gain tax. Then establish with your bank wheteher you will qualify for the outstanding bond amount. You have to take action before the end of 2011.
COSTS AND FEES OF RENTING
PAYABLE BY THE TENANT
You as the Tenant will have to pay an Once Off Application Fee to La Grande to carry out the administration process as described on the web page “THE APPLICATION PROCESS”
You as the Tenant will also have to pay a Rental Deposit which may vary between one and a half up to two months rent. The amount is pendant on the Landlord's requirements and your financial risk profile, etc.
Your monthly rental account will be debited with the amount for the municipal services delivered to the property and is payable to La Grande with the monthly rent. The municipality rates and levies to the Homeowner Association or Body Corporate, is for the Landlords account.
All other services rendered to the property will be for your account. You will have to arrange with Telkom if a telephone is required on the premises and the cost therefor will have to be paid by you, directly to Telkom for this service. Please establish whether internet connection (if required) will be obtainable.
Garden Services and the cost there of is negotiable between Tenant and Landlord.
In the event that the house is not fitted with a TV Antenna and/or Satellite Dish and it is one of your requirements, written permission will have to be obtained from the Landlord. The cost of supply and install, if not already installed, is normally for your (the Tenant’s) account.
The once off Application Fee for the first year is R500.00 and, in the event that you and the Landlord wish to enter into a new lease agreeemnet for the year thereafter, a once of reduced application fee of R300.00 will be payable by you, the Tenant.
Example:
If the monthly Rent is R5 500.00 P.M. and the rent deposit amounts to R8 250.00 (R5500.00 x 1.5) (Deposit equal to one and a half months rent) and the amount for utilities for the first month is R200.00. Then the cost will be as follows;
Before Occupation
Before the keys to the property will be handed over to you , as the Tenant, you will be required to pay R14 250.00 to La Grande.
On the first of the following rental month, you will have to pay the following amount
Tip for Tenants
Tip
Make sure that you have a back up plan in place, for in the event that you may loose your present income source.
