Making the difference

Experts give advice on setting your rental space apart from the rest and other property queries

BY BONNY FOURIE bronwyn.fourie@inl.co.za

Q: AS A commercial property landlord in the office sector, what can I do to set my property apart from others? It is already offers security, good location, excellent wi-fi, flexible space and competitive rents.

A: Consider your air quality. Supplying the latest clean-air technology not only keeps employees healthy and lowers absenteeism but appeals to an increasingly health and lifestyle conscious tenant. In 2022, it makes sense for air quality to be on the agenda of all managers of office parks, co-working spaces, hotels and corporate head offices.

We associate South Africa with beautiful, clear air but the fact is that many of us are going to work every day and breathing air that is unsafe. Building regulations are designed to minimum standards but employers should be looking to maximise the air quality, not only because it is the right thing to do, but because of the very clear benefits that come with improved air quality.

All employers look for ways to reduce absenteeism due to ill health but studies are now also clear that air quality goes a long way to ensuring better performance.

Boards assign a fair bit of their budget to employee wellness programmes but often overlook what they are forcing their staff to breathe. – Edward Hector, managing director at SFI Group

Q: A close friend and I are considering buying a home together. What should we look out for or do to make the agreement work for both of us?

A: These are the most important aspects required in a partnership agreement, whether business or personal: • Outline your contributions: These can be monetary (cash investment), physical property (such as furniture and appliances) or even labour and time (home renovation).

As far as possible, ascribe a value to your contributions and decide who pays which costs. Keep precise records of all payments. Remember, it’s an investment and should be treated as such. If there is an income stream, establish how this will be divided. • Decide how decisions will be made: Decision-making can slow processes down so decide upfront how decisions will be made, especially if no consensus can be reached. Consider what would happen if there was a breach of trust or a conflict of interest. • Decide how conflicts will be resolved: Disputes aren’t always avoidable and, if left unresolved, can have serious consequences for your business or your relationships. To protect these relationships, ensure the partnership agreement includes a section on dispute resolution. • Apportion the assets: Determine how you will distribute your capital gains and/or profits and how you will deal with losses and additional cash-flow requirements. What will happen to shares in the event of a death? – Cobus Odendaal, chief executive of Lew Geffen Sotheby’s International Realty in Johannesburg and Randburg

Q: I might be getting a bonus this month and I am thinking about redecorating parts of my home. What is the best, and most affordable, way to do this?

A: If you’re hoping to invest your year-end bonus in making your space a little comfier, cosier and more “you”, you may want to wait for the January sales.

We often see stores clearing stock in January at great prices. If you’re willing to pocket your bonus until then, you could pick up some real bargains.

You should also trawl festive season markets and thrift stores. New isn’t always better. Don’t be afraid to buy pre-loved. – Craig Mott, Western Cape regional sales manager for the Rawson Property Group

Q: I am searching – almost exclusively online – for a home to buy but I am not really finding anything that I feel a strong pull towards. What am I doing wrong?

A: While online listings can help you get an idea of what is out there, in-person viewings should be arranged once you are ready to purchase. Searching for homes has become so easy with property portals that many people start browsing online long before they are in a position to buy. This sometimes makes it tricky to find a property they like once they are finally ready to purchase.

Over-priced listings are common, which can lead you to falsely believe you cannot afford the home you want. But, if you set up a meeting with a real estate professional, they will be able to find out if a home is overpriced or if a seller is willing to negotiate, which could open a new set of opportunities.

If you have been unlucky through your online house-hunting efforts, you should shift your search from virtual to reality. Homes are most often bought based on an emotional connection. Sometimes all it takes is to walk into a property to know that this is the place for you. – Adrian Goslett, regional director and chief executive of Re/Max of Southern Africa

Don’t be afraid to buy pre-loved home furnishings which can be found at festive season markets or thrift stores. PICTURE: ROMAN KRAFT/UNSPLASH