How to prepare your property for sale

4 ways to make your home more attractive to potential buyers

Selling a property is sometimes easy. You put it up on the market, let the offers roll in and then chose the best.

But other times, it can be hell. You put your property on the market and no one wants to come and view it. They just aren’t that interested.  

So what can you do to improve your chances?

We’ve put together a brief guide on how you can make your home more attractive to viewers and hopefully bring in those offers.

First impressions count

If the front of the house is unattractive, it’s going to be a battle to sell it.

Everyone and I mean everyone that visits the property is going to make a snap judgement as soon as they pull up outside so don’t sell yourself short!

You need to spend time sprucing up the exterior. Do the walls need a new lick of paint? Is the gate hanging off its hinges? Is the garden over grown?

Don’t just stand there, fix it up!

Neutralise

Whether you’ve lived in the house for 1 year or 20 years you’ve probably made it your own stamp on the property. And that’s great! But when you’re trying to sell it it’s going to make life harder.  

When people come to view your property they want to project their own personality onto it, they don’t want to see yours.

So strip out that contemporary wall art, and cover the room you painted pink in something a little more... middle-of-the-road.

Fix everything

Imagine that you’re accompanying someone round your property. They’ve shown a real interest and it looks like you might have a buyer on your hands.

And then they try the shower – it doesn’t work. And then a light – it doesn’t work. And then a tap – it doesn’t work.

They aren’t going to invest in a property that has more problems than positives.

So before put it on the market make sure that you fix everything. It’ll cost you but it’ll be worth it in the long run!

And if there’s something that you can’t fix, don’t ignore it. Hire a pro to come in and resolve it.

Show off its best bits

The best way to advertise your property is by placing an ad online. And to do this, you need to take some snap shots of your home.

You should always show off the houses best features.

Does it have a huge garden? Then take plenty of pictures of that! Is the garage a little too small to be functional? Then avoid taking snaps of that.

It sounds like such an obvious thing, but you’d be surprised at the amount of people who don’t bother showing the property off at its best!

ooba Reports Continued Property Price Growth and Record Approvals

ooba Reports Continued Property Price Growth and Record Approvals

The latest statistics from ooba, South Africa’s biggest bond originator, show that the property market has entered the fourth quarter of 2013 with positive growth and increasing lender confidence. At the same time, ooba has broken new records in approved home loans.

ooba’s Average Purchase price, at R935,252, has shown significant year-on-year price growth of 9.4% and month-on-month growth of 4.4%.

The First-time buyer’s Purchase Price has also shown a healthy year-on-year increase of 9.6% and a month-on-month increase of 5.5% to R711,691. Of ooba’s total intake of bond applications in October, 52.1% were from first-time buyers.

The value of home loans approved through ooba in October this year is 22% up on October 2012.

The Average Approved Bond size at R795,993 was up 7.8% year on year and 3.4% higher month on month. “October 2013’s average bond size is our highest average bond size on record,” says Rhys Dyer, CEO of ooba.

The Average Deposit recorded by ooba was higher both year-on-year and month-on-month by 9.6% and 5.7% respectively, at 14.9% of the purchase price.  This is indicative of the ongoing drive by banks to encourage homebuyers to put down a deposit on their properties..

The Initial Bank Decline ratio is down year on year by 1.6% and is unchanged month on month at 47.2%, while the Ratio of Applications Declined by One Lender, Granted by Another has increased year on year by 1.8% but decreased month on month by 2.2% to 26.7%.

In October, ooba’s Effective Approval Rate, which is the overall percentage of loans approved once ooba has shopped the loan to multiple banks, at 65.4%, has shown a year-on-year increase of 2.0%.

ooba’s trailing approval rate, which takes into account loans approved after month-end, is currently 72.2%, showing that ooba is obtaining approval for more than seven out of every 10 home loan applications it receives.

“Taken together,  ooba’s October statistics are indicative of a stable and  balanced property market that is supported by  improved  lender confidence”  says Dyer.

Full oobarometer analysis

Indicator	Oct 2013	Oct 2012	Change yr on yr (Oct 13 vs Oct 12)	Sep 2013	Change month on month (Oct 13 to Sep 13)
Avg purchase price	935,252	854,740	9.4%	896,258	4.4%
Avg purchase price of  first time buyer	711,691	649,424	9.6%	674,590	5.5%
Avg approved bond size	795,993	738,213	7.8%	769,628	3.4%
Avg deposit (as % of purchase price)	14.9% (R139,259)	13.6% (R116,527)	9.6%	14.1% (R126,630)	5.7%
Avg age of applicant	37	36	1 Year Older	37	No Change
Avg initial decline ratio (first bank decline)	47.2%	48.8%	-1.6%	47.2%	0.0%
Ratio of applications declined by one lender but approved by another	26.7%	24.9%	1.8%	28.9%	-2.2%
Effective approval ratio	65.4%	63.4%	2.0%	66.4%	-1.0%

Prepare for All the Costs of Buying a Home

Wouldn’t it be lovely if the price tag on your new home was all you had to pay? In reality, there are several hidden and not-so-hidden costs associated with buying property. Here are some of the major expenses, to help you prepare.

“Buying a home is the biggest financial commitment that most people will make in their lifetime,” says Linda Rall, provincial sales manager in KwaZulu-Natal at ooba, South Africa’s biggest bond originator. “But there are a lot of other expenses to factor in, and it’s worth planning for these in advance of transfer so that you can be sure you have the money available when you move in.”

She says that the following expenses should be planned for:

Bond registration and transfer costs

These are probably the biggest cost associated with buying a property. They are also unavoidable. You can work out the fees on properties that you are considering by using the calculators at www.ooba.co.za/calculators/bond-and-transfer-costs-calculator. But to give you an idea, on a R1 million bond, the bond registration cost estimate would be R19,759 and the transfer cost estimate would be R28,875.

“These days, banks are less likely to grant 100% bonds, and they are unlikely to incorporate the costs of transfer, so make sure that you have the funds available for this vital part of the homebuying process,” says Rall.

Moving costs

You’ve bought the place; now you’re going to have to move in. Depending on where you’ve been living, and how much furniture you already own, you might have to hire a moving company to get you into your new home.

This costs anywhere between R5,000 and R15,000 in the same city, but most companies offer a discount if you move in the week and in the middle of the month, when demand is lower. You can also investigate mini move or bakkie-for-hire options, which would be cheaper, but perhaps a bit more work for you.

General repairs and maintenance

While some homes are in perfect condition on the day of transfer, chances are you’ll have to do some cleaning, repainting and general repairs to make yours feel more like home. Some of these will be essential, others will relate to your own personal taste or budget.

“You should definitely set aside some cash for these unforeseen expenses,” says Rall. “Try to gain access to the property ahead of moving in, so that you can write up a realistic budget for what you will need to spend.”

You should also set aside a few hundred rand for all the basic household maintenance items you will need, like detergents, brooms, cloths and polish. And remember that houses need ongoing maintenance, so always keep some cash ready for unexpected expenses.

Getting the utilities in

If you are buying a freehold property (not a sectional title), you will need to register for your water and electricity connection, and your telephone and internet lines if you need those. These costs vary from area to area, and the internet fee will depend on the type of connection that you want, and whether the relevant lines are already installed.

In general, put aside around R1,000 to R3,000 for connecting the electricity, water and telephone– but you may be required to put down a deposit with the telephone company as well, depending on your credit profile. Investigate the different internet connection costs with your service provider.

And obviously, once those services are connected, you will have to pay for them every month.

Prepare for rates and levies

If you have purchased a freehold property, you will have to pay rates and taxes, which can be anywhere from a couple of hundred to a few thousand rand, depending on the value of your property. Rates cover sewer usage and garbage removal, while your taxes are calculated against the value of your property. The estate agent should have included these rates in the information about the property when you were househunting, but if you need to find out, you can ask the municipality representative when you register for water and electricity. These rates will stay the same every month.

If you have bought into a sectional title, the apartment block’s body corporate will have set a levy to pay every month for the general upkeep of the buildings.

Some suburbs have additional levies that are charged for a street security guard or boom operator. While these are most often voluntary, if you benefit from the arrangement, it’s good to contribute.

Security

When buying a new home, it’s a good idea to assess the security of the other houses in the area, and find out about the crime rates from the local police station, and then update your own security accordingly. And you’ll have to budget for a monthly armed response fee as well.

“Many security companies offer a package deal on installation with a contract for a certain term,” says Rall. “Be sure that you’re happy with the length of the commitment before signing a deal like this, but it can be a very cost effective way to get a good security system in place.”

Insurance

Your bank will insist that you have homeowners insurance in place to cover any structural damage to the property. This is generally affordable with competitive options available to you and can be included in your monthly bond repayments. However, your possessions are not covered by this insurance, so it’s a good idea to explore the costs of an additional policy to cover you for theft.

Rall also cautions that if you have existing insurance cover, you must inform your broker of your new address as this can change the risk factors in your policy and alter your premiums.

Furniture and electronics

Once you have a home, you will want to fill it with beautiful things. Of course, this kind of refurbishment is a luxury, and one that can be put off until you have settled in. However, if there are any items that are vital to making your life in your new home comfortable, then get a costing on these and factor them into your budget.

“Owning a new home is liberating, but the financial commitment can feel like a burden,” says Rall. “With forethought and planning, you can budget for the major expenses that are likely to come your way, which will give you a bit of control and confidence as you settle in to your new home.”

Taken from ooba news dd 11/11/13 

Warning against high rental increases

In the current property market, landlords who continue to think that they can raise residential rentals annually by 10 percent (or even more) are creating a situation in which they are likely to lose tenants, and such lost tenants will be difficult to replace.

Good tenants, those who pay on time and care for the property, are not easily found and in the current market should be cherished and held onto.

This was one of the more important messages delivered recently by Tony Clarke, Managing Director of the Rawson Property Group, to Rawson Rentals franchisees. “You have to realise and accept that there will almost always be some other landlord, probably advised by a sensible agent, who will be offering a more favourable, more equitable deal,"

He warns that if a landlord insists on being greedy, they will find that they will lose out.

Clarke says good tenants, those who pay on time and care for the property, are not easily found and in the current market should be cherished and held onto.

If this means settling for only 5 to 7 percent increases annually, so be it, he says. “The difference between a 10 percent and a 7 percent rental increase can be as small as R150, the equivalent of a takeaway pizza and soft drink today. Is it really worth losing a reliable tenant for an almost insignificant amount?”

He says although there is in some areas a shortage of rental stock, it has also to be appreciated, that a new inflow of stock has come about as a result of struggling bond holders putting their homes up for rental, so as to give themselves a breathing space.

“Those landlords who complacently believe that what they are offering is so good that they can raise rentals indiscriminately will be disappointed and rental agents have a duty to guide landlords into the correct thinking on these matters,” says Clarke.

Taken from Property 24

What you must do when viewing a property

House hunting? Here are 5 things you have to do when viewing a property

Regardless of whether you’re looking to rent or purchase, viewing the property is one of the most important parts of house hunting.

It’s all too easy to get wrapped up in everything that the estate agent is telling you. You might love how the property looks, but what if when you move in you find lots of faults.

To help you avoid this we’ve put together 5 things you have to do when you’re viewing a property.

Take Your Time

One of the biggest mistakes people make when viewing a property is to rush around it. They’re so excited by the thought that this could be their next home that they can’t wait to see the entire house.

You need to look in every corner, every cupboard, and every draw. Meticulously go through each room and don’t let the estate agent rush you. This is an important decision.

Test Everything

So the house looks great, but what about all the fixtures and appliances? Are they in working order? Did you even check?

I’ve heard of too many people who have fell in love with a house upon viewing only to find out that nothing works when they move in. On your way round the property check each tap and electrical socket. If there’s a whole host of electricity issues, then it’s going to cost you to get them fixed when you move in.

Take Pictures

Ten Tips For First-Time Homebuyers

Buying your first home is both an exciting and a stressful experience. The joy of owning your own home can sometimes be overshadowed by the concerns that come with acquiring the associated debt. Rhys Dyer, CEO of ooba, South Africa’s biggest bond originator, provides these ten tips to take the pain out of the process:

1. Save up for a deposit. This is one of the most important things you can do to help yourself obtain a bond at a good rate. The more money you put in at the beginning, the less you will owe and the more inclined a bank will be to take a risk on you.
2. Be certain of what you can afford. The amount of credit the bank will give you depends on how much you earn, your expenses and the leftover disposable income you have to service the debt. Most banking and bond originator websites have a calculator which will work out how much you can afford, like this one from ooba: http://www.ooba.co.za/calculators. Use these and then limit your searches to properties in the recommended price range.
3. Get prequalified. If you get prequalified for mortgage finance, you’ll know what you can afford, and you’ll be in a stronger position to make an offer when you find the perfect home. ooba’s prequalification service – oobaqualified – takes this a step further, and helps you to work on your affordability and credit rating if you fall short of the banks’ requirements.
4. Seek professional advice. Listen to your friends and family, but also seek the help of a reputable bond originator like ooba, who are experts in home finance and bond applications, and will give you free, impartial advice.
5. Shop around for your home: Spend some time educating yourself about what’s available in the market. Don’t buy in haste, without considering the alternatives. When you have a sense of what’s out there, you’ll be able to make better decisions as an informed buyer.
6. Shop around for a bond: Don’t just snap up the first bond offer you receive from the first bank you apply to. Another bank might offer you a better deal. A reputable bond originator will apply to multiple banks for your home loan simultaneously, ensuring that you get the best deal at no extra cost to you, with less hassle and paperwork.
7. Understand all the costs involved upfront, like levies and transfers fees. If you haven’t prepared for these, you could be in for a nasty surprise.
8. Be aware of the hidden costs and defects of any property: Look out for anything that is not working properly, from faulty wiring to subsiding walls. If you want to make an offer, bring in a specialist to inspect plumbing, electrics and structure, with particular attention to the roof. If he uncovers something, it doesn’t necessarily mean you won’t buy the property, but it puts you in a position to negotiate on the price.
9. Repay as much as you can into your bond every month: By just putting in a few extra hundred Rand a month you can save yourself thousands over a 20-year bond term.
10. Know the difference between occupation and possession: It is not your house until the transfer is registered at the deeds office. If you spend money on alterations before this happens, you could lose all the money you spent if the transfer doesn’t go through.

“By becoming an informed buyer, you will place yourself in a position of confidence as you make the biggest financial commitment of your life,” says Dyer. “If there is anything that you are uncertain about, ooba has a team of experts in home finance to help you out at no extra cost.” 

ooba news.

Renting vs. Buying – which is right for you?

For most, owning a home is a dream. Settling down with a family in your very own building. But is it the better option? Or is renting just a good?

Well, the honest answer is I don’t know. No one does. Everyone has different needs and requirements and your circumstances will dictate which is right for you.

I can however make the decision a little easier on you guys. We’ve put together some benefits of renting and buying to help you decide which the better option is for you.

Renting

Renting is the popular choice for many young people who are finding their feet. It’s perfect for someone who doesn’t know what’s next in their life, and could have to move quickly.

Flexibility – Buying a property means that you’re committing to one area. You’re investing your foreseeable future in that one location.

Renting however means that you can up and move whenever required. Perhaps your finances are a little strained or you need to relocate closer to your family. Renting is the most flexible way to live.

Initial Outlay – Renting a property means that you don’t have to fork out as much money upfront. It’s probably going to be a month’s rent, a deposit and well... that’s probably it. Buying however means that you’ll have to save for quite a long time. Not good when you need somewhere to live fast.

Repair costs – If you don’t own the property, then the boiler breaking on its own isn’t your problem. This is something the landlord will need to deal with. Unless you break it yourself. If that’s the case then get your wallet out.

Less of a risk – As I said earlier, buying is tying yourself down to one area and one property. If you lose your job or fall ill for example, you can’t leave.

Buying

If you’re a family looking to settle down then this will probably be the option that you’re considering.

Stability – Everyone who is starting a family needs stability in their life. So, if you buy you’re committing to one area. This means that you’ll be able to get to know the local neighbourhood, allow your kids to settle into school and fall into a solid routine.

Live by your own rules – As I brought up earlier, renting means that your landlord repairs any damage. But they also control the property. If you purchase it yourself you can paint the walls, decorate the bathroom and knock down the garage all you want. It’s yours!

Cost – One major downfall of renting is that you’re consistently paying for something that you’ll never own. And, in some cases, your rent couldincrease. If however you have mortgage you’re paying money towards your future. Plus, the price of your mortgage will only ever decrease.

Both of these have their own obvious benefits. For the young, ladder-climbing individual, renting is the way forward. For families, buying is probably the better option.

Asses your circumstances and consider the above.

House affordability is a major concern in the current market...

South African banks are increasingly looking to the affordable housing sector in a bid to reverse skyrocketing mortgage decline rates.

Speaking at the latest International Housing Solutions’ Affordable Housing Conference, senior bank representatives said affordability was a major concern in the current market.

With home ownership on the decline, as noted in recent reports, banks remained keen to lend. However applicants were advised to ensure they did not set their sights unachievably high when seeking their first home loans.

Also speaking at the conference was Dominic Adu, CEO of Ghana Home Loans, who said mortgage decline rates in that country stood at an extraordinary 90% - primarily because applicants applied for too expensive properties and, if they could not buy them, they would rather not buy at all.

“People want homes they can’t afford,” he said.

And the desire to purchase a higher-end property than is realistic could also, in addition to other issues such as consumer-indebtedness, explain SA’s high mortgage decline rates, the conference was told.

Nicholas Nkosi of Standard Bank said the biggest reasons for the bank’s current decline rate of new mortgage applications, was credit information and affordability.

“A larger number of clients are being turned down due to their credit information, but affordability is playing a bigger role,” he said.

Nkosi added that while there was significant pressure in terms of delinquency in servicing bonds, this applied across the mortgage book. “It is positive that delinquency is not unique to affordable housing, and that the affordable housing customer is not performing worse.”

Marius Marais of FNB said the bank’s affordable book stood at about 20-25% of market share, and that the bank’s decline rates could for the most part be attributed to reasons of affordability.

Representatives from all the major banks agreed that customer education was key, especially in the affordable space, where clients often did not understand the amount of additional spend required when buying property, such as insurance, transfer duties, and rates and taxes.

Soula Proxenos, Managing Partner at IHS, said it was encouraging that the affordable housing sector was fast becoming recognised for its potential to address challenges in the property market.

“Our approach has always been to be able to provide a quality first step onto the private property ladder, and both the private and public sector are acknowledging the role the affordable sector has to play,” she said.

Approximately 200 developers this month joined thought leaders in government, the private sector and the major banks at the 2013 International Housing Solutions Developer Conference to discuss prospects offered by building housing and sustainable communities for middle-income earners.

In addition to banks’ desire to grow their mortgage base in this market, Southern African developers are increasingly looking to affordable housing when deciding on future projects, as a result of the continued growth and success of the sector..

Titled “Meeting the Demand”, this year’s conference focused on analysing the latest data and trends in housing in Southern Africa, highlighting government’s support of the sector, feedback on improved end user finance and the development and construction of affordable housing.

The conference came in the wake of the announcement of massive investment by the National Housing Finance Corporation and IFC, a member of the World Bank Group’s, into IHS’s second fund, IHS Fund II.

With its first fund, the SA Workforce Housing Fund, IHS provided financing for more than 28 000 housing units with a combined total value of more than R8.6 bn, providing tangible positive social impact for the people living in IHS developments. A pioneer fund manager in recognising the potential of developing affordable housing in developing markets, IHS opened up a valuable new sector for its investors while helping thousands of families to afford a home of their own and start their journey to wealth creation through property ownership.

The global private equity investor has, through the SAWHF, committed more than R 2bn to providing affordable housing in emerging markets while generating superior risk-adjusted returns.

Michael Otto

Home Loan Sales Consultant | Nedbank Home Loans

10 Ways to Feel at Home in Your New Neighborhood

When you buy a new home, you’re also taking ownership of your place on a street and in a community. Kevin Mountjoy, national sales manager at ooba, South Africa’s biggest bond originator, says that there are lots of practical and social things that you can do to help you move into your new neighbourhood.

1.      Get to know your neighbours. Introduce yourself to the people in the houses or apartments on either side of yours, as well as opposite, if there is one. Let them know when you’ll be moving in, and give them your contact details and take theirs, if they’re happy to provide them.

2.      Introduce yourself to the local residents’ association or body corporate, and sign up for any newsletters or email groups.

3.      Get your utilities sorted out. Sign up with the relevant providers to have the water, electricity, gas, phone and internet put into your name. For municipal bills, you will need to go to your nearest customer service centre with a valid ID, details of next of kin, your banking details, payment for the required deposit, your offer to purchase or deeds document, your meter numbers and the latest readings, your contact details and the completed Application for the Supply of Water and Electricity form. Also find out whether your area has a recycling pick-up or identify the nearest dump that you can take your recyclable waste to.

4.      Go into your bank and switch branches so that any deliveries come to the most convenient location for you. Remember to take note of your new branch code for future electronic transfers.  And register your new address with anyone who sends you bills, so that you don’t lose out on vital information that should be coming your way.

5.      Look at the websites for the Rotary Club, The Lions Club or the Round Table Club for branches in or near your area. By getting involved in charities like these, you can actively participate in improving the lives of people living in your community.

6.      Sign up with an armed response company that has a high presence in your neighbourhood. Usually, the more people that go with a particular provider, the more cars they will allocate to the area, and the quicker their response time will be. Assess the security levels of other houses on the street, and attempt to match them. And find out from the local police station if there are any particular types of criminal activities you should be vigilant for.

7.      Find out about the local healthcare providers like doctors, dentists and vets, as well as the nearest emergency room.

8.      Work out your quickest routes to your work and your children’s schools – but remember to test these in rush hour so that you avoid surprise bottlenecks. Also, find out about the public transport offered in your area – there is growing, quality public transport infrastructure in South Africa, and you might find that you are pleasantly surprised by the convenience.

9.      Contact your insurance company to make sure that your policy is aligned with the type of security that you have in your new home, and with the area that you are now living in. Ensure that you are covered for your move and during any planned renovations.

10.  Do some research into courses and classes offered in your area. Yoga or pottery, for example, are great ways to make new friends for you and your kids. 

“Moving into a new house is so much simpler and less stressful if you have a sense of belonging there,” says Mountjoy. “By doing some of the things we’ve suggested here – especially if you do them before you move in – you will find that there is less admin and more joy in settling in to your new home.” 

From "ooba" newsletter 30/09/2013

How to Decide Between Buying and Renting

You need somewhere to live but how do you decide if you should rent or buy their property outright; read on for more information.

If you are looking to move into a new property then let us start by saying congratulations to you; moving can be a very exciting time indeed. There are many different reasons why you might be moving and some of these include:

• Moving out of parents house
• Couple moving in together
• First time buyers
• A new addition to the family and therefore need to up size

Whatever the reason for your move you’ll probably be left with the dilemma of: ‘should I rent or buy my home?’ This has been a long fought debate for many, many decades now and you may even be struggling on the best decision for you and your needs also. Today’s blog covers the pros and cons of both so you can make an informed decision.

To rent

Let’s get started on talking about some of the aspects of renting your property instead of buying.

A fantastic reason to rent rather than buy is the fact that you have the freedom to move to newer properties much more freely. You’ll be freer to travel around and see a lot more of the places that you love. You also have the ability to rent properties that are way out of your price range in terms of buying the property via a mortgage.

On the downside your landlord can ask you to leave (with due notice), you might not be allowed pets and if anything breaks you may have to wait do without certain facilities while your landlord takes care of the repairs.

Ultimately you may actually be restricted to renting if you don’t have enough savings to make up the deposit to buy. However if you can gather the funds to buy then consider the following advantages and disadvantages.

To buy

One of the main advantages is the savings opportunity which comes with putting your money into something as solid as a house which you can even pass onto your children or use as your retirement fund. In fact your mortgage repayments may be less than your monthly rent.

Another positive reason is the fact that the property is yours and you have the ability to transform your house in however you see fit (within reason).

If you need more advice on whether to rent or buy our friendly team is on hand to help. Find your nearest agent to discuss your options.

CREDIT AMNESTY

Cabinet, yesterday (05/09/2013) approved the proposal for the credit amnesty. It is still unclear what the exact terms of the amnesty will be other than debts which have been paid up will be removed.

Cabinet spokesperson Phumla Williams said, “The key to the option is to ensure that those that have settled their debt and they are able to afford debt should be allowed to do so.”

For your ease of reference, the 3 options proposed by The Department of Trade and Industry (dti) and National Credit Regulator (NCR) and presented to Parliament were:

Option 1

·         Removal of all adverse listing less than R10 000 (irrespective of non-payment)

·         Removal of all Paid Up adverse listings on an ongoing basis

·         Removal of all Paid Up judgements on an ongoing basis

·         Number of consumers impacted: 1,516,960

Option 2

·         Removal of all adverse listing irrespective of value and irrespective of non-payment

·         Removal of all Paid Up adverse listings on an ongoing basis

·         Removal of all Paid Up judgements on an ongoing basis

·         Number of consumers impacted: 1,605,763

Option 3

·         Removal of all judgements and adverse listing irrespective of value and irrespective of non-payment

·         Removal of all Paid Up adverse listings on an ongoing basis

·         Removal of all Paid Up judgements on an ongoing basis

·         Number of consumers impacted: 2,180,774

It is vital to understand; the amnesty will affect defaults and possibly judgements but not the underlying [rental] payment profile. It is to the benefit of all credit bureau members to ensure you contribute in a positive and meaningful way by ensuring your tenant / debtor data is loaded and up-to-date on the TPN credit bureau.

In conclusion, TPN will keep our members updated on the process, we will assist in suggesting changes to your tenant / client take on process you should consider as and when more details become available regarding the exact terms of the credit amnesty. You are not powerless – you have the power to contribute in a meaningful way by loading your tenant data accurately, monthly and on all tenants good and bad.

Please click here for additional information

Warm regards,

Michelle Dickens    Managing Director Tenant Profile Network (TPN)