PARKTONIAN HOTEL SUIT - R 650,000.00

Description:

Sale of 1/300th of the public rooms, restaurant, bar, conferencing areas, & back-up areas such as kitchen, storerooms & staff areas.

This ownership comes as a result of all these areas being classified as "common areas" in terms of the Sectional Title Act, such that the revenues generated in these areas, & costs associated with these areas, & costs in generating such revenues, will be apportioned equally between the 300 suite owners.
Self -sufficiency can be very rewarding. The Protea Parktonian Hotel boasts the most spacious hotel guest rooms in Johannesburg. There are 300 of these suites, all similar in size, most with personal bar, mini-safe, radio, colour TV & air conditioning. New Electronic key card locks have recently been installed.
Concurrently with the sale of suites on Sectional Title, all suites will be refurbished & refitted to top 2 star standards.

Blue Label in not very excited by this offer. Hotels with occupancy of 75% are considered to be doing ok. The occupancy rate of residential units in the Braamfontein area is around 90%. Let the numbers speak for themselves.

We also want to ask the question: if the hotel business is so great why are they selling?

When considering this investment be sure that you know the following:

1.   Levies for the upkeep of the common areas (any changes in levies if a restaurant moves out and there is no more income for this space.

2.   What is the seasonal occupancy, are you going to sit through winter with no income?

3.   What happens in a recession? People stop staying in hotels – people don’t stop staying in their apartments.

4.   READ THE CONTRACT – the written contract that you sign is it! Anything that the salesperson promises that is not contained in the document will be impossible to claim later on.

Take your time, think about it and ask questions.

 

Good news for Investors that took the risk in the CBD

BRAAMFONTEIN — When top South African designer David Tlale’s models took to the catwalk during Johannesburg Fashion Week, they were strutting where no fashion show has gone before: a bridge in the city’s notorious downtown.

Tlale’s fall/winter couture show was held Saturday on the Nelson Mandela Bridge, an iconic landmark in Johannesburg’s inner city and an area long plagued by a reputation for crime and urban decay.

The show, titled “Made in the City,” was inspired by the people who work downtown, Tlale said, and included 92 models — one for every year of Mandela’s life.

David Tlale is known in particular for his dramatic dresses with creative use of texture and shape. Sophisticated and daring designs have made him popular among South Africa's celebrity crowd. He said with this show he wants the world to see that fashion from Africa is more than just traditional African prints.

“We wanted to showcase the beauty of the city,” he said. “Perceptions need to change about what comes out of Johannesburg.”

The move is an important boost to the slow but steady revitalization of an area that slid downward into crime and neglect starting in the end days of apartheid, when white people and companies fled to the suburbs. As the inner city emptied out, it became notorious for rapes, murders, carjackings and the phenomenon of “hijacked” buildings, where criminals take control and illegally collect rent from squatter tenants.

More than two decades later, there is no quick fix to the continuing problems of downtown, but change is visible in pockets of Johannesburg’s city core that are becoming trendy arts and commercial areas. The successful Arts on Main project, for example, has seen warehouses turned into studios, galleries and creative industry offices, while nearby Main Street Life has apartments, a boutique hotel and an art-house cinema.

The area around Gandhi Square, the main bus hub, has shed its crime-filled reputation and now caters to white-collar office workers with shops, restaurants, outdoor cafes and pedestrian streets.

Last year’s soccer World Cup also provided positive attention to the inner city area of Newtown, which hosted a fan park.

“The inner city is becoming vibrant,” she said. “It’s about time that people rediscover Joburg. So many people have not taken the time to go back to the inner city.”

Tlale recently moved his fashion studio from the suburb of Parkhurst to Braamfontein, a booming area in the downtown that is attracting designers, artists and art galleries. A major Johannesburg gallery, the Brodie/Stevenson, also recently relocated from the suburbs to Braamfontein.

“It was the right time for us to move, because of the revival of the city,” Tlale said. “It’s really exciting here right now.”

 

7 Secrets to a Happy Tenant

Now I am not suggesting that you let the tenants live there for free or pay rent as late as they want, but I think there are 7 simple things you can do that will keep them happy. And happy tenants will treat your property better, pay their rent on time, stay in your building longer, and recommend you to their friends as a good (possibly great) landlord.

 

1.    Be friendly, respectful, and courteous always. Then when you need to be firm, they will know you are serious.

2.    Answer your phone when the tenant calls or return their call promptly. Nothing is more frustrating when you have a question or problem and someone will not return or take your calls.

3.    Stop by or call to just chat and see how they are doing. This lets them know you care about them as a person. Ask about their work, their kids, or what they enjoy.

4.    Repair everything in the unit that the tenant calls about. Even a simple dripping faucet can fester into a frustration in time.

5.    If the tenants have lived in the apartment for more than 2 years, touch up the paint in the main areas, paint a room a colour that you both agree on, or shampoo the carpet. You are not only keeping them happy, you are maintaining your property.

6.    If the tenant always pays on time and they call and tell you the rent is going to be late, forgive the late fee this one time. Even the banks do it!

7.    Offer an incentive if they find a new tenant for you. I give my existing tenants R500 if they find a new tenant that signs a lease. It costs the same as a newspaper ad and much cheaper than a vacant unit.