| Time to cash in on student housing |
Student accommodation holds great potential as a property investment
that is virtually recession-proof.
Demand for rental units near campuses is increasing rapidly as
student numbers and waiting lists for university residences grow.
And the pattern is set to continue in future thanks to the country's
large percentage of young people and the increasing emphasis placed
on tertiary education to plug skills shortages.
With greater pressure on universities and colleges to train larger
numbers of students, budgets do not leave much scope to build additional
student residences and tertiary institutions increasingly rely on
the private sector to supply in the demand for student housing.
While there is already a strong argument to be made that bricks
and mortar represent a sound long-term investment, student housing
is unique in that rent per square metre is on average much higher
than rentals for normal residential units and, secondly, finding
a tenant is usually no more arduous than keeping the property listed
with an agency affiliated with the institution. Many institutions
compile free property listings and distribute the list to prospective
students at the end of each academic year.
The key to a successful investment is to target areas close to
campuses. Rents and occupancy rates rise in direct relation to the
distance the property is from campus.
Even so, some institutions have a greater need for student housing
than others because their student numbers are growing faster. In
Gauteng the universities of Pretoria, the Witwatersrand and Johannesburg
are showing strong growth, while mining activity around Potchefstroom
is expected to translate into greater residential density and thus
growing applications at the local university.
Investors may also be rewarded by keeping an eye on the University
of KwaZulu-Natal in Pietermaritzburg. The city has been named as
the province's sole capital and growth is expected to swell student
numbers at the local university.
The thought of letting students loose in your investment property
may be too much for some to contemplate but careful selection of
the property may limit annual maintenance. Elements to keep in mind
in this regard include robust surfaces such as floor and wall tiles
or washable paint and basic fittings that can be replaced at little
cost. A breakage deposit paid by tenants should go a long way to
cover the replacement cost of basic fittings damaged accidentally.
And, speaking of maintenance, the annual summer vacation at the
end of the academic year is an ideal time to attend to basics such
as cleaning up and making repairs. Even students who renew their
contracts for the next year - and thus pay the rent over the holiday
period - are likely to spend their holidays elsewhere, giving landlords
plenty of time to do maintenance.
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Few people would list housework among their favourite pastimes
but luckily there are some tricks to minimise the drudgery.
Whether you are thus buying a new home, planning a spot of renovation
or just sprucing up for spring, the following tips can help you
cut down the time spent on tidying, dusting and scrubbing:
- Choose solid floor surfaces such as wood or tile - they will
get just as dusty as carpets but are quicker to clean and spills
can be simply mopped up.
- Choose smooth countertops for the kitchen and bathrooms that
are easily cleaned with a quick wipe.
- Paint techniques such as sponging and rag-rolling create visual
depth and can mask sticky fingerprints, especially in children's
bedrooms or playrooms.
- Elaborate window treatments such as swags and drapes are dust
traps and difficult to wash - consider simple and elegant curtaining
or roller blinds.
- Keep in mind that textured or patterned upholstery will hide
the odd mark better than plain or smooth fabric.
- Ample storage space such as cupboards and toy boxes can minimise
clutter and speed up cleaning time.
- Avoid open shelving and cabinets with louvre doors or doors
with raised panels that gather dust.
- Recessed light fittings stay cleaner than lampshades and chandeliers
- and if you enjoy company better than cleaning, consider installing
dimmer switches that will create ambience and hide the dust!
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| Put down roots with herbs |
A patch of herbs not only adds interest to your
garden and your dinner table - it can increase the value of your
property.
Studies have shown that well-kept gardens can increase
property values by about 10% and a herb garden is a good choice
in situations where space is limited, such as townhouse gardens.
Similarly, a dull corner in a large garden can be profitably transformed
into an aromatic patch.
A trend that is gaining popularity is to plant
herbs among other plants in garden beds and borders instead of a
dedicated herb garden. Many herbs, such as the sage family, have
attractive flowers and herbs with grey foliage can be used with
good effect to create colour contrast. An added bonus with this
approach is that some herbs will deter harmful pests and attract
beneficial insects.
Herbs are easy to grow provided they get plenty
of sunlight and are planted in soil that drains well. Most herbs
can also be grown in containers and a collection will add interest
to a sunny patio and supply a keen cook with a ready supply of fresh
material.
If you are in the market for culinary herbs consider
starting with basic herbs that make up the classic bouquet garni,
namely parsley, thyme and bay leaf. A bay tree will do well in a
large pot and can be clipped to keep it compact. Other favourites
include perennials such sage, oregano and rosemary, and annuals
such as basil and the peppery watercress.
Popular fragrant herbs include pineapple sage,
lemon verbena and the mint family, all of which will spice up summer
drinks, while lavender arguably retains top spot as the all-time
favourite.
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Moving day can be very trying for the whole family,
but good planning can prevent lot of unnecessary stress.
First of all, proper packing, whether you attempt
it yourself or hire a professional team, is crucial. And if you
do hire packers, you should ask them to tackle the job a day or
two before the move and make sure that you are present during the
process.
You should also make sure you get a full and legible
inventory list, that all items and boxes are numbered, and that
you buy additional insurance, if necessary.
Secondly, you need to bear in mind that your removal
company will not be liable for breakages or loss of items that you
have packed. Consider packing small valuables, such as jewellery
or coin collections, separately and keeping them with you rather
than transporting them with the rest of the household goods.
Third, make sure you are present when the removal
van arrives to load your belongings and that you can stay in contact
with the driver while in transit. If you cannot be at the new address
before the removal team arrives, arrange that somebody meets them
there.
And finally, check items against the inventory
list as they are unloaded and report losses or damaged packaging
before signing the driver's copy, then direct the team of movers
to take items to the rooms where they need to be unpacked.
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