Now is a good time to invest in a property to rent

Demand for properties to rent is at an all-time high, according to Glenda Taylor, Director of Greeff Rentals. “It’s an excellent time to invest in a property to rent, as you are unlikely to struggle to find a tenant,” adds Taylor.

“Now is the optimal season to buy a property to rent out to the student market,” says Mike Greeff, CEO of Greeff Properties, an exclusive Affiliate of Christie’s International Real Estate.  “From September onwards, parents start seeking  to secure accommodation for 2013 for their varsity going children, so apartments and small houses close to UCT in Rondebosch, Mowbray and Rosebank are excellent investment options and unlikely to depreciate in value as the demand is constant and growing ,” says Greeff. “Claremont properties, close to the Jammie Shuttle are particularly sought after too, and those with excellent security are usually snapped up first,” adds Greeff, whose top choices include the brand new Herschel, where a two- bedroom apartment is currently fetching R10 000 per month and Intaba, where a one- bedroom apartment fetches R6 500 per month and a 2 bedroom apartment, R9 500.

“We have families with school-going children on waiting lists to find homes in the Southern Suburbs, so buying a house near a school is an excellent move,”  says Glenda Taylor, adding that  rentals for  basic houses in Claremont, Rondebosch,  Newlands and Kenilworth,  offering two bedrooms and up range from R8 000 to R20 000.

Buying to rent in Kirstenhof, Tokai, Bergvliet, Plumstead and Wynberg is an equally good bet according to Greeff. “Obviously rentals vary widely depending on area, accommodation and security offered and the condition of the home, particularly the kitchen and bathrooms, but a comparative analysis of rentals being achieved in the vicinity of your property is vital if you’re planning to buy as an investment. Your estate agent should be able to help you with this information,” says Greeff.

Greeff is currently managing over 400 rental properties in the Southern Suburbs. Examples of rentals being achieved by Greeff Rentals division include: A two bed cottage in Kirstenhof for  R5 500 per month, a three-bedroom home with pool in Diep River for R9 000, a one -bedroom apartment in Wynberg Chelsea for  R9 000, a two- bedroomed  garden flat in Rondebosch for R6 200, a three-bedroom house with a pool and tennis court in Constantia for R25 000, a three- bedroomed home with pool  and small garden on Steenberg golf estate for R35 000 per month and a four- bedroomed, furnished home in Bishopscourt  for R65 000 per month.

Original Source:  Greeff Properties