Willem Tait

Suggested PropX property book for Feb

2012-02-06T22:08:00.001-08:00

Welcome to click here for more info on my suggested property book for Feb. As they say, knowledge is power and this book should not be missed. Enjoy!

Cheers - Willem

Working with people

2012-02-06T13:58:00.001-08:00

This is so true, read it and read it again. You have to be small and big at the same time.

I light my candle from their torches. - Robert Burton

What to do if you are always right

2012-02-06T00:19:00.001-08:00

This is so true!

Those who believe they are exclusively in the right are generally those who achieve something. - Aldous Huxley

It is all about you

2012-02-04T21:34:00.001-08:00

What keeps me going? Only one thing; and that is:

Keep steadily before you the fact that all true success depends at last upon yourself. - Theodore T. Hunger

Welcome to also subscribe to my newsletter at www.propx.co.za

How do you manage email volume

2012-01-29T20:57:00.001-08:00

How do you manage email volume both effectively and efficiently?

I think we all my have this problem. Have a quick look at the 5 tips above. Very good.

CHEERS, Willem

2012-01-28T01:48:00.001-08:00

The difference between a successful person and others is not a lack of strength, not a lack of knowledge, but rather a lack in will. - Vince Lombardi

New property valuations could involve rates shock - Willem Tait

2012-01-16T00:41:00.000-08:00

Municipalities countrywide are making preparations for the next large-scale property valuation, which could impact property owners' pockets.

The lifespan of the initial valuation rolls in terms of the Municipal Property Rates Act is nearing at close. The rolls have to be adjusted every five years, which period can be extended by one year.

Espach explains that although the act came into force in 2006, most municipalities drew up their valuation rolls between 2007 and 2009.

This was the first time that both land and improvements were taken into account and farm land was included on a broad scale, ignoring the former sliding scale.

Cape Town is already using a second roll, but most other municipalities, including Johannesburg, Ekurhuleni, Tshwane, Nelson Mandela Bay and Mangaung will only compile a new one next year. eThekwini is starting to use a new roll this year.

Municipalities begin preparations at least a year ahead of time. Tshwane's valuations start in February so that they can be published for comment in January next year. Johannesburg's tenders for the valuation work closed late last year.

We advise property owners to establish what the schedule is for the municipality in which their properties are situated.

Statutorily the authority concerned must inform the owner of the new valuation, but this does not always happen. If the permissible period has expired without an owner registering an objection, it becomes more difficult to correct faulty valuations and an owner could for the next five or six years be saddled with a high rates account.

Many property owners received a severe shock in the previous round. Many municipalities appointed new assessors who did not know the area and many mistakes ensued. .

In a case the valuation of a shopping centre was reduced by the appeal board from R555m to R323m by the appeal board. Some of these issues are still outstanding.

If, after an objection, a valuation is adjusted by more than 10%, the law determines that it must be reviewed by the appeal court. None of Johannesburg’s reviews have yet been finalised.

The law allows a minimum of 30 days for objections, but many municipalities extend this to 60 or 90 days.

- Sake24

4 tips on how not to lose passion

2011-10-02T09:29:00.000-07:00

More about me

I am a Commercial Property broker in South Africa and Africa and work with local and international property professionals, brokers and agents in concluding property deals on a 50/50 commission split basis

-absolutely enjoy working with other property brokers and property professionals

-been in the game for the past 15 years, leasing and selling commercial space and can also assist corporate tenants, buyers and sellers in finding, leasing and selling commercial property.

- You are welcome to visit http://www.willemtait.com/ for more info on my company or email me willem@propx.co.za

4 tips on how not to lose passion

Recently I have been in conversation with a couple of property professionals as regard the structure of their different property businesses as well as the state of the property market.

One thing that I can see is that most property people I know are losing their passion for the property game and we need to do something drastic to rekindle our enthusiasm. To be honest, I cannot blame them. In recent months I have been feeling more like a psychologist than a property professional.

-Firstly having to bump up the energy in meetings. You can only do this so many times before your energy levels drop.

-Secondly, I usually close my business day with a couple of red lines through a pending deal list. Losing deals or parking them in the basement, with a follow up in 6 months. This is after one has invested a terrible amount of time, on risk for no payment

My honest opinion is that the human body and mind can do this for only so long and is not designed for this, or at least 95% of us. As a property consultant in the current market place you need to focus on positioning yourself in that 5% bracket.

This is how I do it:

1. Find or do something that you enjoy. By this I mean, if you don’t enjoy i.e. managing or leasing property, rather focus on i.e. sales.

2. If your cash flow does not allow you to focus on what you enjoy, consider financing the shortfall/cash flow yourself or find an investor or employer that shares your passion.

3. If your focus is on short term cash flow, then focus on this only. Don’t get involved with long term stuff.

4. Share your time with positive people and employ people that encourages you on a daily basis. If not, make 100% sure that you empower them to do so.

5. Prequalify your clients every day. If a client is negative or unsure, ask for a sole mandate or sole appointment. If they decline, walk away.

Gautrain Properties – why be close to the Gautrain stations

2011-08-11T05:06:00.000-07:00

Visit this Facebook page at: http://www.facebook.com/GautrainFans

_________________________________________________________________

I have travelled extensively on the Gautrain train network in the past month attending meetings and viewing properties. I can honestly say that it is the best thing since sliced bread. Quick, effective and on time.

Property close to the Gautrain Stations

-That said, as a commercial property consultant I have also realized the value of having commercial or residential property within walking distance to a station. It changes the dynamics of a business model for tenants, landlord, property developers and investors.

-I have identified a couple of good properties for sale or lease or for development in close proximity to the Gautrain network and you are welcome to contact me to discuss same.

CLICK HERE and view more information on three sectional title offices units for sale next to the Sandton Gautrain station.

If you are on Facebook, also welcome to join our network of Gautrain followers for basic info on the Gautrain network of station and traveling tips. The link is: http://www.facebook.com/GautrainFans

Here are a couple of points to ponder:

-Seeing that staff and clients can commute with public transport, less parking is required in adjacent properties, so as a tenant, you would need less parking and can save on parking cost.

-As a developer or investor you can develop or re-develop properties with less parking bays, subsequently increasing the value of the property.

-Similar to an open air square, I do anticipate that the roads adjacent to the stations will be converted into one way roads or converted to pedestrian areas i.e. a square or a walkway making the adjacent properties perfect for conversion to retail or showroom space facing onto the future square or walkway.

-Arterial feeder roads leading to the stations must also be considered i.e. maybe in a 5km radius for acquisition or redevelopment.

Looking forward to staying in contact – Regards. Willem Tait, CEO, PropX willem@propx.co.za

6 tips on closing more deals - by Willem Tait

2011-07-26T00:06:00.000-07:00

WINDOW SHOPPERS

In the past couple of months I have come to realize, even more so than last year, that our beloved commercial property industry has become more like a trip to a shopping mall on a Sunday. Our clients are using us and using more of our time than ever before in looking and touching stuff, but not buying (or leasing) it.

Similar to my wife walking into a shoe shop, they seem to enjoy the experience of hunting for the best property deal or always believe that there is a better options around the corner or on the next display rack.

That said, we cannot blame our clients for being window shoppers. The market at large is dotted with vacant space to lease or buy. How do we then as brokers and landlords sharpen our pen so that we get clients that are willing and able to sign on the dotted line.

This has been my approach:

1. Application form

Hit the client with an single pager application form at the first contact. This could be something new for you, but having a client complete an application form distinguishes the window shopper from the serious client.

2. Visit the current premises

Always visit the premises of your clients first, before you show them alternative options. Ask why this is not working from them and what should be different.

3. More time on phone and email

Spend more time with your client on the phone and email before taking them out into the field. Ask the right questions and give relevant answers.

4. Site trip

Arrange a site trip for a half day or day, showing the client all options. No 2^nd meeting and no showing a partner again. Make 100% sure that the decision maker is with you in the car

5. Info pack

Prepare a pack or info sheet per property, not just a list of properties. Include photos and location maps etc. The more info you give the less questions you will get.

6. Offer to lease or purchase

Always and I mean always give your clients a copy of the offer to lease or purchase. This shows intent and you have something to follow up on.

Trust that the points above will help.

MORE ABOUT ME

-absolutely enjoy working with other property brokers and property professionals

-been in the game for the past 15 years, leasing and selling commercial space and can also assist corporate tenants, buyers and sellers in finding, leasing and selling commercial property.

- You are welcome to visit www.willemtait.com for more info on my company or email me willem@propx.co.za

If you would like to work with me or require more info, kindly give me a call or join me for a cup of coffee at our Nelson Mandela Sandton Square offices in Sandton, Johannesburg, Gauteng.

Alternatively, welcome to subscribe to my newsletter at www.propx.co.za or follow me on:

Facebook http://www.facebook.com/willem.tait

Twitter http://twitter.com/#!/willemtait

Twitter http://twitter.com/#!/officesforsale

LinkedIn: http://www.linkedin.com/profile/view?id=51509936&locale=en_US&trk=tab_pro

You Tube: http://www.youtube.com/user/WillemTait

Flickr: http://www.flickr.com/photos/willemtait01

Regards

Willem Tait - Director, PropX Invesco (Pty) Ltd Cell: 084 491 1123

6 Tips for networking with other property professionals - by Willem Tait

2011-07-15T00:11:00.001-07:00

I have been networking with other property professionals for 15 years and would like to share a couple of my top tips with you today.

1. Meeting

There is no substitute for a face to face meeting

2. Trust

Yes, trusting another broker or agents with a stock item or client is imperative, but you need to give someone a chance to work with you. The best way of doing so is to share a stock item or client and track the relationship from there.

3. Email communication

If you are still concerned about sharing stock or clients, I usually copy my seller or other stake holders in all email communication. This way the email acts as the actual record and your can keep it on file.

4. Formal agreement

Always better to have a quick single pager agreement approved between the parties. Property is always about black and white paperwork and a good solid foundation is better, but not always required

5. Communication

I run a full CRM program i.e. Client Relationship Manager program because I deal with many contacts. You can start small, but I suggest you start with a CRM program first. This way you can track stock, clients, brokers and agents.

6. Enjoy

Working with other property professionals is an absolute blessing. You surround yourself with smart, likeminded individuals and every relationship can last a lifetime, so enjoy!

More about me

-absolutely enjoy working with other property brokers and property professionals

-been in the game for the past 15 years, leasing and selling commercial space and can also assist corporate tenants, buyers and sellers in finding, leasing and selling commercial property.

- You are welcome to visit www.willemtait.com for more info on my company or email mewillem@propx.co.za

If you would like to work with me or require more info, kindly give me a call or join me for a cup of coffee at our Nelson Mandela Sandton Square offices in Sandton, Johannesburg, Gauteng.

Alternatively, welcome to subscribe to my newsletter at www.propx.co.za or follow me on:

Facebook

http://www.facebook.com/willem.tait

Twitter

http://twitter.com/#!/willemtait

Twitter

http://twitter.com/#!/officesforsale

LinkedIn:

http://www.linkedin.com/profile/view?id=51509936&locale=en_US&trk=tab_pro

You Tube:

http://www.youtube.com/user/WillemTait

Flickr:

http://www.flickr.com/photos/willemtait01

Regards

Willem Tait - Director, PropX Invesco (Pty) Ltd Cell: 084 491 1123

4 tips for preparing for the week - by Willem Tait

2011-07-10T00:32:00.000-07:00

4 tips for preparing for the week

As a property broker, my tasks are never finishes and there is always that follow up call or email that needs to be done. To keep my ducks in a row and not loos my head, I prepare for a business week by doing the following:

I take my notebook and across the left hand side of the page, write down the following four headers

1. $ or Rand sign

This is followed by a quick list of things to do that will generate income. Could be as simple as drafting an offer to lease and email to XYZ or follow up on Tax Invoice for a deal done or phone transferring attorney to assist with documents required for transfer of property.

2. Worried about

Usually there are a couple of things that I am worried about. Write them down. You cannot proactively tackle a week without clearing your head. I good friend of mine always says that it is never one thing, always five, so identify the five things and then tackle one at a time.

3. Tools

This is a list of tools needed for the week. It could be as simple as knowing that my car needs to go in for a service on Wednesday and that I need to plan for an alternative “tool” for that day. Also making sure that all the tools that I use for business is working. I usually pick one tools per week i.e. my cell phone and make sure that I understand that new software application or update contacts.

4. Goal or target:

Here I usually list only three items, no more. Keeping it manageable and achievable is better and three per week is 12 per month and 144 per year. More than enough!

Trust that the four tips will help.

If you would like to work with me or require more info, kindly give me a call or join me for a cup of coffee at our Nelson Mandela Sandton Square offices in Sandton, Johannesburg, Gauteng.

Welcome to Click Here and email me to be contacted.

Alternatively, welcome to subscribe to my newsletter at www.propx.co.za or follow me on:

Facebook http://www.facebook.com/willem.tait

Twitter http://twitter.com/#!/willemtait

Twitter http://twitter.com/#!/officesforsale

LinkedIn: http://www.linkedin.com/profile/view?id=51509936&locale=en_US&trk=tab_pro

You Tube: http://www.youtube.com/user/WillemTait

Flickr: http://www.flickr.com/photos/willemtait01

Regards

Willem Tait - Director, PropX Invesco (Pty) Ltd Cell: 084 491 1123 Tel: (011) 881-5797

On the softer side - 5 communication tips - by Willem Tait

2011-07-08T06:06:00.000-07:00

ON THE SOFTER SIDE

As promised my blog is not all about commercial property and what better than a Friday to relax a little and forget about the serious side of the past week and look at the basics of business.

In the past month I have really been struggling to keep up with my cell phone calls. On top of this, my cell phone provider disappeared, not just once, but a couple of times per week.

Firstly, I could not phone out on selective numbers. My voicemail message departed and then resulted in my number not existing at all. Things are now back to normal, but I am sure that I have lost a couple of calls and irritated some of my clients and network of property brokers and agents.

That said, it made me think about business communication tools in general and how I communicate. This is my 5 points to success:

1.Your standard voicemail message on your cell

Driving in the car, like I usually do, on my way to an appointment, I always struggle to write down telephone numbers from a voicemail. I fixed this by asking in my standard voice message on my cell, that a client should please repeat his/her number twice. It is simple and it works!

2.Using sms/short message communication

I know sms’s are for old people and with all the new technology out an about, that the sms could be a dinosaur in the next year or two, but it still works for me. If I receive a call from a number that is not loaded on my cell, I always try to add the contact after the discussion and then an immediate sms with a quick thank you. This way the recipient could also save my details and it makes it easier for future communication.

3.Taking notes

I have an A5 note book and I tend to make notes as I go along. Think I’ve used more than a 100 books to date. This way all my scrabbles and activities are all in one place. Works for me.

4.Communication via email

When I communicate via email, I always ask myself what other questions the client could have and I try to answer the question in my email, without the question being asked! This way it reduces the number of emails. That said, in the turf that I am in, being a commercial property sales and leases broker, I always draft what I call an offering memorandum for a property and I include all the info in this document. If you do it right the first time, you will have less questions.

5.Leaving a message in a voicemail

My feeling is that cell phone companies generate more money from voicemails left than the actual conversations that we have via cell. That said my approach to voicemails are to be as informative as I possibly can. Leaving a message i.e. “Hi, it is Dick here, give me a call on xyz, thanks, cheers” is so wrong. Firstly, I prepare for a call by assuming that it will go over to voicemail. I tend to over compensate and leave a message that is clear and to the point. I leave a task or request on what I need or what is next to be done.

I really hope that the above will also help you in your day to day communication. Have a great weekend.

If you would like to work with me or require more info, kindly give me a call or join me for a cup of coffee at our Nelson Mandela Sandton Square offices in Sandton, Johannesburg, Gauteng.

Welcome to Click Here and email me to be contacted.

Regards

Willem Tait - Director, PropX Invesco (Pty) Ltd Cell: 084 491 1123

South Africa - advertising our commercial property on your website - by WIllem Tait

2011-07-07T23:14:00.000-07:00

Advertising our commercial properties on your website

I have had a couple of requests from brokers and agents to advertise commercial property that PropX lists on a daily basis on your own website and I would love to help with the following:

1. As agents, when we list properties we want to market the property to a wide audience. For this we use our websites and printed media.

2. As an agent your focus may be on residential property in a specific area or specific products, but your website is already linked to search engines and a qualified client base.

3. If you have not done so yet, consider adding a commercial section to your website and advertise the PropX commercial stock.

4. You only then need to pass the request or lead to us and we will gladly keep you covered with 50% of the commission.

5. If you want to list or advertise a property, only disclose the relevant information like a photo, asking price and general location. This protects all parties involved.

6. When you receive a request, you only need to pass the lead to us via email and we will gladly keep you covered with 50% of the commission.

7. Welcome to email willem@propx.co.za and we will gladly forward you our list of stock for sale and you can start advertising.

If you require something more formal, you are welcome to CLICK HERE and view our suggested one pager working agreement.

Looking forward to working with you!

More about Willem

-absolutely enjoy working with other property brokers and property professionals

-been in the game for the past 15 years, leasing and selling commercial space and can also assist corporate tenants, buyers and sellers in finding, leasing and selling commercial property.

- You are welcome to visit www.willemtait.com for more info on my company or email mewillem@propx.co.za

South Africa - 522sqm Vacant Industrial mini factory FOR SALE, Midrand, Gauteng - by Willem Tait

2011-07-07T06:41:00.000-07:00

Was hoping that you could assist in bringing a buyer for the following property:

Vacant Industrial unit / mini factory FOR SALE

Gauteng, Kyalami, Midrand – measuring 522sqm

Asking Price: R4,000.000 (R4mil)

Notes

-Office space 398 s/m
-Enclosed terrace 14 s/m
-Warehouse 110 s/m potential to put mezzanine floor of around 80 s/m
-Passages / communal areas around 20 s/m
-All offices are air conned.
-All offices are data ready and Wi-Fi.
-Built in bar and pool room.
-Fully furnished ?
-11 covered parking bays.
-Bordering one of the parks / convenient for outdoor functions.
-Server room with raised flooring and industrial air conditioning in place.
-Top floor has storage room for filling.
-Top floor has 6 offices with 20 seated boardroom. His and hers toilet / Kitchen.
-Bottom floor has 1 large office seats around 3 people and a second large open plan office that seats around 5 people. His and hers toilet / Kitchen.
-Communal reception area.
-Motorised roller door with 20 s/m secure store.
-Fully alarmed with 24hr armed response and panic buttons.
-Limited view of Kyalami race track.

If you would like to work with me or require more info, kindly give me a call or join me for a cup of coffee at our Nelson Mandela Sandton Square offices in Sandton, Johannesburg, Gauteng.

Welcome to also Click Here and email me to be contacted.

Regards Willem Tait - Director, PropX Invesco (Pty) Ltd Cell: 084 491 1123 Tel: (011) 881-5797

More about Willem

-absolutely enjoy working with other property brokers and property professionals

-been in the game for the past 15 years, leasing and selling commercial space and can also assist corporate tenants, buyers and sellers in finding, leasing and selling commercial property.

- You are welcome to visit http://www.willemtait.com/ for more info on my company or email me willem@propx.co.za

South Africa - Rosebank, Gauteng office property for sale 728sqm R9.2mil

2011-07-06T03:29:00.000-07:00

Below some basic info on an office property for sale in Rosebank, Gauteng, South Africa. As a property professional, you are more than welcome to bring buyers to the table and I will gladly split commission with you on a 50/50 split basis.

STAND ALONE BUILDING FOR SALE

PHOTO: AS ABOVE

LOCATION : ROSEBANK – GREAT VISIBILITY TO JAN SMUTS

BUILDING TYPE : Commercial office

SIZE : 728m² Double storey building

STAND SIZE : 1350m²

PARKING : 26 Undercover Parking

AVAILABILITY : 1 October 2011 - VACANT

PURCHASE PRICE : R9,2 Million

MORE INFO :

-Visible from Jan Smuts / Great for advertising
-Walking distance to Rosebank Mall
-Storeroom outside of property / or Gate house for
guards
-Courtyard for smokers
-Huge Generator ensures 100% uptime
-Locked Server room

If you would like to work with me or require more info, kindly give me a call or join me for a cup of coffee at our Nelson Mandela Sandton Square offices in Sandton, Johannesburg, Gauteng.

Or welcome to Click Here and email me to be contacted.

Regards Willem Tait - Director, PropX Invesco (Pty) Ltd Cell: 084 491 1123 Tel: (011) 881-5797

More about Willem

I am a Commercial Property broker in South Africa and Africa and work with local and international property professionals, brokers and agents in concluding property deals.

-been in the game for the past 15 years, leasing and selling commercial space and can also assist corporate tenants, buyers and sellers in finding, leasing and selling commercial property.

-absolutely enjoy working with other property brokers and property professionals on a commission split basis in concluding transactions. Welcome to visit http://www.willemtait.com/for more info on my company or email me willem@propx.co.za

South Africa - How to calculate a cap rate or yield for investment property - by Willem Tait

2011-07-06T01:39:00.000-07:00

How to calculate a cap rate or yield for investment property

In the past month I have had a couple of brokers, agents, buyers and sellers asking me how to calculate the yield or cap rate of an investment property.

For the sake of this article, we will refer to a cap rate only.

Let us have a quick recap: CAP RATE -The cap rate or yield of a property is usually expressed in a % or a decimal i.e. 11% or 12.5% or expressed as an 11% cap rate or 12.5% cap rate.

-The cap rate always excludes the assumption or fact that the property is financed or owned with or without a bond

-The cap rate generally does not take into consideration the age or condition of the property. It is an expression of income vs. asking prices

-The higher the cap rate, the higher the risk and reward and therefore the price is lower -The lower the cap rate, the lower the risk and reward and therefore the price is higher.

A buyer may increase the cap rate from 12% to 12.5% seeing that the property may need to be painted in the next 6 months and that the new buyer would need to pay for same.

NET INCOME

The cap rate of a property is the expression of risk and return associated to the property and the calculation is:

NOI divided by the purchase price equals the yield or cap rate.

-NOI is the annual net operating income of the property i.e. all income minus all expenses.

-NOI is thus the sum of all income i.e. rental plus income from parking and any other income minus ALL expenses.

-NOI could therefore also be seen as the Gross income of the property minus all expenses.

-NOI always excludes VAT

-NOI is always an annual sum

Assuming a property is on the market for R10mil and generates a net income per month of R 100 000 and thus an annual net income i.e. NOI of R 1.2mil, the cap rate of the property would be 12%

Depending on the type property, expenses are usually qualified as: rates and taxes, security cost, maintenance budget, insurance etc.

Buyers are looking at acquiring investment property at between 10% and 13% and sellers are asking between 9% to 11%

You are welcome to visit the following link http://www.propx.co.za/investment_pro_commercial.htm for more information on investment property available via PropX.

Alternatively, welcome to contact Willem Tait, CEO for PropX on willem@propx.co.za

More about me

I am a Commercial Property broker in South Africa and Africa and work with local and international property professionals, brokers and agents in concluding property deals.

-been in the game for the past 15 years, leasing and selling commercial space and can also assist corporate tenants, buyers and sellers in finding, leasing and selling commercial property.

-absolutely enjoy working with other property brokers and property professionals on a commission split basis in concluding transactions.

Welcome to visit http://www.willemtait.com/ for more info on my company or email mewillem@propx.co.za

South Africa - Property Market Seeking Clarity on Consumer Protection Act

2011-07-05T03:45:00.000-07:00

SAPOA seeks clarity on Consumer Protection Act

Here is a quick article from realestateweb.co.za

Urges property practitioners, rental agents and brokers to err on the side of caution until questions regarding property leases and the CPA have been resolved.
_______________________________________________________________________________

Property practitioners, rental agents and brokers have been urged to err on the side of caution until questions regarding property leases and the new Consumer Protection Act (CPA) have been resolved.

The South African Property Owners Association (SAPOA) is addressing Section 14 of the CPA, and associated regulations, with the Department of Trade and Industry (DTI) to obtain the clarity which the property industry needs.

"SAPOA fully supports additional protection for consumers. However, the impact of the new CPA has severe implications for landlords, developers and business owners," explains Neil Gopal, CEO of SAPOA.

These consequences for the sector, points out Gopal, include allowing a tenant 20 business days to arbitrarily cancel a lease agreement and restricting the length of a property lease.

"The CPA will have far-reaching changes to lease agreements for immovable property as we know it," says Gopal.

Under the CPA, lease agreements now have a maximum duration of 24 months. After expiry of the lease agreement, the lease will continue on a month to month basis, unless a new lease is signed.

"Banks will not give credit to a consumer to start up their business if their lease agreement with the lessor is for this limited two year period as two years is insufficient time to enable the consumer to recover start-up costs for its business," explains Gopal.

He adds that it will also create uncertainty for the consumer, who will now not know whether it could remain on the leased premises after the expiry of the lease agreement. "Businesses cannot afford to have to move every two years," says Gopal.

Section 22 and 40 of the Act state that it is the inherent duty of the landlord to ensure the tenant understands the lease agreement - this opens the door for tenants to claim they did not understand the agreement or that they were forced or influenced to sign. "We propose that special provision is made whereby the tenant writes out the words, in their own handwriting, that the contents of the lease agreement is understood," notes Gopal.

The above effects, explains Gopal, will be felt by the property owners and buy-to-let investors who will now be uncertain of their rental income, their bond repayment shortfalls and their ability to use lease agreements as collateral security for loans.

"These are unfortunate consequences of the Act which we believe were not carefully thought out," he says.

"We are furthermore of the view that property leases are not governed by Section 14 of the Act and we have obtained legal opinion to this effect," says Gopal. "SAPOA has raised these and other concerns with the Minister of Trade and Industry, and will do so again.

Gopal explains that the DTI has implemented the same consumer provisions across all industries, without knowing the full effect that this will have on each industry. "Without proper consideration, the CPA could result in unintended and unwelcome consequences for the property industry," says Gopal

In the interim, SAPOA has advised members to ensure that rental agents clearly explain the CPA and all its applicable provisions to their landlords and their landlord's tenants.

______________________________________________

If you are in the market to lease, purchase or sell commercial property, kindly give me a call or join me for a cup of coffee at our Nelson Mandela Sandton Square offices.

If you are a broker, agents or property professional, welcome to make contact and we can work on a commission split basis.

Welcome to Click Here and email me to be contacted.

Regards

Willem Tait - Director, PropX Invesco (Pty) Ltd Cell: 084 491 1123 Tel: (011) 881-5797

More About Me

I am a Commercial Property broker in South Africa and Africa and work with local and international property professionals, brokers and agents in concluding property deals.

-been in the game for the past 15 years, leasing and selling commercial space and can also assist corporate tenants, buyers and sellers in finding, leasing and selling commercial property.

-absolutely enjoy working with other property brokers and property professionals on a commission split basis in concluding transactions. Welcome to visit www.willemtait.com for more info on my company or email me willem@propx.co.za

South Africa - Rosebank office node - latest property info - by Willem Tait

2011-07-04T23:56:00.000-07:00

Was hoping you can assist in bringing a buyer for this Rosebank property

For more information on Rosebank or commercial property in South Africa, welcome to contact me, Willem Tait, CEO for PropX on willem@propx.co.za

PS: I do have an office building for sale, measuring 780sqm, exposure onto Jan Smuts Ave, asking price is R9.2mil

Herewith the latest on Rosebank, an office node in Johannesburg, Gauteng, South Africa

Rosebank is fast becoming Johannesburg's third-largest high-rise business centre, after Sandton and the inner city.
Rosebank offers great retail and new office developments. Same are well-supported by the surrounding residential nodes and the Gautrain station.

The highest demand during the first quarter of 2011 was for office space in the space bracket of 250 to 600 square metres, with leases ranging between three and five years, starting at 85 rand per square metre.
At the same time, the Rosebank management district and lower management district had been working in conjunction with various government and private partners to reduce crime, clean up the area and increase service delivery.

According to I-Net Bridge:

Standard Bank has a 60,000 square metre office development underway for its own occupation, the iconic 9,000 square metre Oxford Corner development is complete, the second phase of the Zone is complete, and the Rosebank Mall Shopping Centre is scheduled for a major upgrade and extension.

Nedbank Gardens and the fire station site on Bath Avenue are just awaiting a major tenant to kick-start their redevelopment. Plus 160 Jan Smuts Avenue - at the corner of Tyrwhitt Avenue in Lower Rosebank - is undergoing a massive upgrade.
Outlook for the next 12 months was that demand for space would continue to increase. However, since available space was also increasing actual sales could remain level.

04 July 2011 - Source I-Net Bridge and amended by PropX

More about me

I am a Commercial Property broker in South Africa and Africa and work with local and international property professionals, brokers and agents in concluding property deals.

-have been in the game for the past 15 years, leasing and selling commercial space and can also assist corporate tenants, buyers and sellers in finding, leasing and selling commercial property.

-absolutely enjoy working with other property brokers and property professionals on a commission split basis in concluding transactions.

South Africa - Sandton Nelson Mandela Square and Woodmead office vacancy schedules - by Willem Tait

2011-07-04T11:03:00.000-07:00

Sandton Nelson Mandela Square and Woodmead Office Vacancy Schedule - South Africa

We maintain an updated office vacancy schedule of the areas that we are active in. As an example, you are welcome to see below and download our Woodmead and Sandton February Office vacancy schedule, covering Woodmead, Sandton CBD, Wierda Valley, Illovo, Morningside and Chislehurston.

Please note that we have removed the landlord details as well as the building name and location.

We also maintain office vacancy schedules for the Bryanston, Fourways, Rivonia, Sunninghill, Dunkeld, Hydepark, Kyalami, Midrand, Melrose, Parktown and Rosebank areas.

We will gladly meet yourself and your tenant in the field to confirm their requirements and present relevant vacant office space.

If you have tenants for the areas listed above, you are more than welcome to contact Willem Tait, Broker and Director at PropX, on 084 491 1123 or at our Sandton Nelson Mandela Square office on 011 881 5797 or willem@propx.co.za

CLICK HERE PropX. Sandton Vacancy Schedule Feb 2011

CLICK HERE: PropX. Woodmead Vacancy Schedule Feb 2011

More about me

I am a Commercial Property broker in South Africa and Africa and work with local and international property professionals, brokers and agents in concluding property deals.

-been in the game for the past 15 years, leasing and selling commercial space and can also assist corporate tenants, buyers and sellers in finding, leasing and selling commercial property.

South Africa - 3 points on access to vacant properties! by Willem Tait

2011-07-03T03:36:00.000-07:00

South Africa - Gaining access to vacant space

Showing vacant commercial space is very similar to visiting a car dealership. The client wants to see the different models, options, colours, finishes etc. It is an absolute visual experience. The major difference in showing property is that it is scattered over the landscape, with different physical addresses.

As brokers we have a tenant, looking for space within a specific size parameter and a suggested budget. We grab our vacancy schedule, match size and budget and take the client on a site trip.

Arriving at a property and not being able to gain access to a specific vacant portion is very similar to walking onto a car dealership floor and not being able to get into the car. The momentum of the sale is lost.

Maybe consider the following:

1. Assign access issues to a good security guard, your assistant or another member of staff. As a landlord, get involved when the deal gets hot, but leave access issues to salaried staff members.

2. Clean the lease premise, give a key to security or a next door tenant. Please note same on your vacancy schedule. If needed, let the broker sign for the key.

3. Alternatively, if you have access to a building manager, leave keys with him, but please make sure that he is available via cell 24/7.

In closure: It is not negotiable. As a landlord your properties should be open for access, easy to visit and ready to show.

If the above is not possible, maybe consider selling your property and buy a car dealership and keep all the car keys in one box.

If you are in the market to lease, purchase or sell commercial property, kindly give me a call or join me for a cup of coffee at our Nelson Mandela Sandton Square offices.

Alternatively, welcome to Click Here and email me to be contacted.

Regards

Willem Tait - Director, PropX Invesco (Pty) Ltd Cell: 084 491 1123 Tel: (011) 881-5797

More about me

I am a property broker and CEO of PropX, a commercial property consultancy. I’ve been in the game for the past 15 years, leasing and selling commercial space and can assist corporate tenants, buyers and sellers in finding, leasing and selling commercial property.

-also enjoy working with other property brokers and property professionals on a commission split basis in concluding transactions. Welcome to visit www.willemtait.com for more info on my company or email me willem@propx.co.za

South Africa - On the softer side: Getting to know Willem - Waiting for the Rain

2011-07-03T02:56:00.000-07:00

South Africa: More about me and why "the softer side"

Would also love to share my thoughts, feelings and opinions with you and not just pure business input.

Above is a self taken photo of Simone and myself. Married for 7 years now and together since school. We actually had our 11 year dating anniversary the day before we got married! Odometer is currently on 18 years as partners in life and love and still running strong.

The thing that bugs me about this photo is that I know it is out of focus, but it is such a great shot. Wind blowing, freezing cold, in a Stormers jersey, on holiday. No matter what the circumstances, we are always happy and in love!

“On the softer side” is a note, article, link, scrabble, grope or fumble on what I am thinking or doing and will give you insight into the type of person I am. Each article or blog has the wording “On the softer side” in the subject line and followed by a note on the content. If this is your kind of thing, you can scroll and find same i.e. starting with “On the softer side” Enjoy!

If you would like to connect to me on a more personal level, you are more than welcome to follow me on the following platforms:

Facebook http://www.facebook.com/willem.tait

Twitter http://twitter.com/#!/willemtait

The “On the softer side” for today is: Waiting for the rain

I am a strong believer in the fact that media in large, plays a tremendous role in consumer and market sentiment. If an article reads that the price of petrol is high, 99% of people will drive less and save on consumption.

If a couple of buks a month makes a difference in your life, you should really ask yourself: What went wrong? There are so many opportunities to create wealth and prosperity.

So many places to make money. Why then the negativity, why then the loss of interest in starting a new business or growing a division of your company.

I’m in the property business! And YES, you can make money in the sector, and believe me, even more so in a recession. The more companies go belly up, the bigger our market share, the greater our growth, equalling more profits. Compared to last year this time we have spent double our advertising budget and have employed three fold the people.

Inspecting the content of a recent newspaper article, I found myself pleasantly surprised. Our farmers are in for a great year. I’m not a farmer, but to have a good harvest I suppose that one must implement all the right things at the right time i.e. prepare the land, plant the seeds, ad water, ad more water. Hope that it rains at the right time and that it stops raining at the right time. Harvest and deliver to the market.

Easy! Not likely…. It must rain at the right time. Absolutely no control over that! So why do we continue? Maybe percentage probability of success is sufficient? Maybe the profit margins are sufficient to have a loss of a whole crop, maybe not? All that I know is that the farmer has been around since the beginning of time and have been successfully preparing, planting, growing and harvesting for our consumption.

I made a point of contacting some farmers and was not surprised with the answers I got. There is an absolute believe that it will rain at the right time and that the harvest will be a success. Like the Americans say: “In God we trust” And YES for the record, I DO!

Please tell me that our economy is slowing down, please let me know that you are finding it hard to cover your monthly expenses, so that I can come and buy your business, your house, your car at half its price, just to get you out of the system!

Not! Then do something about it, because I promise you, if you don’t, I will!

Regards. Willem Tait http://www.propx.co.za/

South Africa - Advice on parking leases for commercial tenants - by Willem Tait

2011-07-03T01:19:00.000-07:00

This note is aimed at parking leases

Traditionally you would lease useable space from your landlord i.e. for office use, warehousing etc and assigned to this space is a number of parking bays, dedicated for your use.

-Firstly, the parking bay relationship to your space should be in a separate lease or in an annexure to your lease agreement. The reason behind this is that during the length of your lease your parking requirements will or could change as your staff contingency changes. If the parking lease is in a separate document, it makes it very easy to re-sign a parking lease only and not the whole lease agreement.

-If you are leasing space in a multi tenanted building, it is imperative that your lease reflects the number and actual location of the bays that you are leasing. It is advantageous to attach an addendum to the lease with the parking bay layout and clearly marking your bays. As new and old tenants come and go, parking becomes available and are taken up and most landlords do not keep one single record of the movement of the bays.

-Most landlords will tell you that it does not make a difference, but believe me; you need a crystal clear record of parking if you need to resolve a dispute or uncertainty surrounding the allocation, usage, cost and access to parking bays.

-While you have a look at your lease, do a quick calculation of your real cost associated to parking rentals and the number of staff that you have. If needed, secure more bays now, while they are still available, or reduce your parking cost exposure if possible.

In closure, if you want to avoid problems with parking, spend a small amount and have your parking bays clearly marked with your company name or logo. It looks professional and if done correctly, will give you a bit of branding.

If you are in the market to lease, purchase or sell commercial property, kindly give me a call or join me for a cup of coffee at our Nelson Mandela Sandton Square offices.

Click Here and email us to be contacted.

Regards Willem Tait - Director, PropX Invesco (Pty) Ltd Cell: 084 491 1123 Tel: (011) 881-5797 willem@propx.co.za

More about me

South Africa - 8 tips for Better Vacancy Schedules please - by Willem Tait

2011-07-02T12:15:00.000-07:00

South Africa - Willem Tait - Better vacancy schedules please

For the landlord that does not know, a vacancy schedule is the general word used in the industry for a single list of all your vacant properties. Brokers usually receive it via email and the header of the email usually includes the word Vacancy Schedule for XYZ. In the old days brokers received your vacancy schedule via post, neatly packaged in corporate branding or via fax, killing half the trees in the Amazon in the process. The major challenge for landlords today is communicating with the different type, quality, age and experience of brokers and aligning your message to cater for all.With new technology like the internet and bulk emails, these tools allow you to communicate with brokers quickly and effectively, but with speed comes responsibility.

Maybe just consider taking note of the following before you click the send button the next time around:

1.PDF documents are great, but in some cases brokers cannot copy the content onto their standard templates. Have a chat with your IT guys regarding same.

2.Consider including a photo of each property. You want the broker to remember your property and recognize same in the field.

3.Cater for the new and old brokers. Include an explanation of terminology and consider moving away from abbreviations.

4.When attaching a file to an email, change the name of the file to reflect the date is was emailed and include your company name. This way a broker can replace the old file from last month with the new file from this month.

5.If you list your vacancies on your website, consider updating same daily. No use in having info listed if it is not updated.

6.Visit http://maps.google.co.za/ and link the location of your properties. You could also create a shortcut inside your vacancy schedule. Chat to your IT guys about same.

7.If you have multiple sheets or tabs at the bottom of your excel sheet, consider adding a colour to each tab. If you only have one page, i.e. sheet 1, rather delete sheet 2 and 3.

8.Make the file print friendly i.e. please make sure that a broker can read it once it is printed.

Kindly give me a call or join me for a cup of coffee at our Nelson Mandela Sandton Square offices. Alternatively, welcome to Click Here to be contacted.

Regards Willem Tait - Director, PropX Invesco (Pty) Ltd Cell: 084 491 1123 Tel: (011) 881-5797

More about me

South Africa - Using Willem's OPR - by Willem Tait

2011-07-02T11:31:00.001-07:00

Willem Tait Bullet of the week to property consultants - Working with PropX

Working with PropX

PropX works with brokers and property consultants in leasing and selling commercial property on a commission split basis. According to Willem Tait : The content of my weekly bulletin comes from the hart, just the basic facts without the fiction. It should hit like a slug to the chest, short and quick and will hopefully give you a better understanding of how to work with PropX and benefit financially.

You are welcome to visit www.propx.co.za for more info.

______________________________________________________

The bullet for this week is aimed at: OPR, OPM and OPT

If the terminology of OPR, OPM and OPT are new to you, please allow me the following:OPR stands for OTHER PEOPLES RESOURCES: You could find yourself working for a principal and you use his/her office space, admin assistants, infrastructure and telephone lines. This is OPR, other peoples resources that you use.OPM stands for OTHER PEOPLES MONEY. You could be working on a monthly retainer or a basic salary. To let boards and media are paid for and supplied. This is OPM, other peoples money that you use.OPT stands for OTHER PEOPLES TIME. Your principal is available for meetings, manages the company and invests time into you. This is OPT, other peoples time that you use.Depending on your position, skills, experience and success as a property consultant you use a combination of the above in different variables to conduct your day to day work.

RELATIONSHIP WITH PROPX

The relationship between PropX and yourself falls under one of the above categories. Can you guess which one?The answer is OPT: OTHER PEOPLES TIMESo in short, we work together on a deal, either party bringing the tenant, buyer or seller and we match the two, invest our time together and conclude a transaction.-The objective of PropX is to add value were we can in education brokers and consultants, while we are working together with you to conclude a transaction.-There is nothing better than two property consultants working on a deal, to the benefit of all involved in the process.-Two heads are always better than one and together we move quicker, faster and better in concluding a deal.

NEXT STEP

If you have willing commercial sellers, buyers, investors or tenants, we would love to work with you on a commission split basis. PropX will gladly bring stock, buyers or tenants to the table and conclude a quick and effective transaction.

Kindly give me a call or join me for a cup of coffee at our Nelson Mandela Sandton Square offices.

Alternatively, welcome to send me a quick email to willem@propx.co.za and I will gladly contact you.

Regards

Willem Tait - Director, PropX Invesco (Pty) Ltd Cell: 084 491 1123 Tel: (011) 881-5797

More about me

I am a property broker and CEO of PropX in South Africa, a commercial property consultancy. I’ve been in the game for the past 15 years, leasing and selling commercial space and can assist corporate tenants, buyers and sellers in finding, leasing and selling commercial property.

I also enjoy working with other property brokers and property professionals on a commission split basis in concluding transactions. Welcome to visit www.willemtait.com for more info on my company.

South Africa - 13 tips on Lease or Buy Property? - by Willem Tait

2011-07-02T10:40:00.000-07:00

Should you lease or buy commercial property?

We all know that owning property (an asset) is better than leasing, but when compared to the operational requirements of your business, the answer is not clear cut. I have listed some of the advantages and disadvantages for your consideration.

Advantages of buying

1. Registered asset: The advantages of having a long term asset registered in your business allows for potential capital growth, TAX and VAT deductions

2. Income: Depending on the property you could lease a portion to another tenant and generate income.

3. Cost: Depending on how you structure your commercial bond, you could opt for a fixed monthly bond payment, giving your business clear and fixed costs.

4. Access to equity: You can use the property as a guarantee or surety in business dealings with clients, suppliers or partners and not rely on a cash loan from a bank.

Disadvantages of buying

1. Premature Sale: Your owned commercial space may become inadequate forcing a premature sale of the property.

2. Deposit required: Commercial bank finance is available at a 30% cash deposit and the balance is usually financed over 10 years as appose to a 20 year residential bond.

3. Maintenance and improvements: As the owner, you are responsible for maintaining the property and making your own improvements.

Advantages of leasing space

1. Location: Leasing space may give you access to a high image address that you cannot afford to buy.

2. Working Capital: For the first couple of years you will have access to more money i.e. not tied up in your 30% deposit and you can thus respond to more business opportunities in the market.

3. Focus: Leasing property should allow you to focus on your business and not the management of your property

Disadvantages of leasing space

1. Variable Costs: With a leasing option you may be subject to annual rent increases and higher costs at the time when your lease expires.

2. No Equity: While leasing you will be funding the investment of the landlord with your lease payments.

3. Control: Leasing property gives you limited control. Owning property gives you absolute control.

Luckily PropX can offer options specific to your requirements.

If you are in the market to lease, purchase or sell commercial property, kindly give me a call or join me for a cup of coffee at our Nelson Mandela Sandton Square offices.

Alternatively, welcome to Click Here and email us and we will gladly contact you.

Regards

Willem Tait - Director, PropX Invesco (Pty) Ltd Cell: 084 491 1123 Tel: (011) 881-5797

More about me

I also enjoy working with other property brokers and property professionals on a commission split basis in concluding transactions. Welcome to visit www.willemtait.com for more info on my company or email me willem@propx.co.za