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Among the formal functions of South African property law is the harmonisation of individual interests in property, the guarantee and protection of individual (and sometimes group) rights with respect to property, and the control of proprietary management relationships between persons (both natural and juristic), as well as their rights and ...
The Prevention of Illegal Eviction from and Unlawful Occupation of Land Act (PIE) [1] is an act of the Parliament of South Africa which came into effect on 5 June, 1998, and which sets out to prevent arbitrary evictions.
A house in multiple occupation (HMO), [1] or a house of multiple occupancy, is a British English term which refers to residential properties where 'common areas' exist and are shared by more than one household. Most HMOs have been subdivided from larger houses designed for and occupied by one family.
H Mostert and A Pope (eds) The Principles of The Law of Property in South Africa 1 ed (2010). Port Elizabeth Municipality v Various Occupiers 2005 (1) SA 217 (CC), 2004 CCT 53/03 SAFLII; Prevention of Illegal Eviction from and Unlawful Occupation of Land Act 19 of 1998.
The purpose of obtaining a certificate of occupancy is to prove that, according to the law, the house or building is in liveable condition. Generally, such a certificate is necessary to be able to occupy the structure for everyday use, as well as to be able to sign a contract to sell the space and close on a mortgage for the space.
The property owner in this case signs a property management agreement with the company, giving the latter the right to let it out to new tenants and collect rent. The owners don't usually even know who the tenants are. The property management company usually keeps 10-15% of the rent amount and shares the rest with the property owner.
Homeowners are usually required to pay property tax (or millage tax) periodically. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state, a county or geographical region, or a municipality. Multiple jurisdictions may tax the same property.
A condominium (or condo for short) is an ownership regime in which a building (or group of buildings) is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual owners.