Residential Property Management
for non-residents
We offer a complete range of residential property management services for non-residents;
from legal and tax advice on your holding structure to accounting, banking, income tax planning, property visits and
the overseeing of repairs and maintenance.
We offer a complete range of residential property management services for non-residents; from legal and tax advice on your holding structure to accounting, banking, income tax planning, property visits and the overseeing of repairs and maintenance.
More About
Oculus Africa
We specialise in managing residential property in the Western Cape, South Africa; properties that are rented out and generate income and those that are solely owner occupied.
If you are in the process of acquiring residential property in South Africa, let us assist you in finding the best structure.
If you already own a property in South Africa, let us help you to manage it effectively.
Our
Directors
Stefan van Niekerk
Stefan is a practicing attorney, notary and conveyancer specialising in property law. His areas of expertise include negotiating, structuring, and drafting agreements in the property sector.
Alberto Prins
Alberto is a practicing chartered accountant and auditor. He has extensive experience in South African tax legislation including how it impacts non-residents.
Kelly Myatt
Kelly started her career in property sales and lettings in the UK in 2003. She founded an estate agency in Gloucestershire before becoming a partner of two leading estate agency branches in Worcestershire. Kelly moved to South African in 2016 and brings with her a wealth of expertise in property alongside hands on experience in immigration.
The Aquisition
Process
Structure
The first and very important step in the property acquisition process is to determine the correct holding structure. Let us explain your options, based on your current and unique situation, the country where you are tax resident and future planning. We will then make a recommendation and assist you with the incorporation of a South African company or trust or to register your existing foreign company in South Africa.
We can also act as public officer of your foreign company in South Africa (which is a requirement of the South African Revenue Service) or as an independent trustee of your trust.
Sale Agreement
In South Africa, properties are bought and sold by sellers and purchasers entering into sale agreements with each other. These agreements are governed by South African law and are legally binding on the parties who sign them. We can prepare a custom agreement for you to purchase or sell a property or we can review the agreement presented to you by the estate agents that you are working with.
International Money transfers (forex)
We work with international money transfer specialists who have proven their ability to offer our clients better exchange rates, resulting in a saving with every money transfer.
Mortgage Bond
As a non-resident, you can take out a mortgage through a South African bank when you purchase a property in South Africa. The maximum amount that non-residents can borrow is 50% of the purchase price of the property. Let us introduce you to mortgage originators who can prepare your application for submission to multiple South African banks to source the whole of the market.
Management
Process
Tenanted Properties
1. Income Tax
If you rent out your property to generate income you have to register for income tax in South Africa and file income tax returns. Let us help you to register and file your annual income tax returns.
2. Accounting
We can collate the rental income and all expenses linked to your property to prepare monthly management accounts and annual financial statements.
3. Banking
We can oversee your banking in South Africa; from initial account opening to processing payments upon your instructions.
Non-Tenanted Properties
1. Installation of video cameras
View your property from anywhere in the world with a live feed from installed cameras.
2. Property Visits
3. Upkeep
We can recommend service providers and obtain quotes for garden and swimming pool services.
4. Repairs and Maintenance
If your property has suffered any damage or should you require any maintenance work to be done (painting, irrigation, roof tiles etc.) we can obtain quotes for you to choose from. We can also review the work before payment is made.
5. Cleaning of Property
We can arrange cleaning for you at intervals of your choice along with cleaning whilst you are staying in your property.
6. Monthly Accounts
We can oversee your monthly invoices for property rates, estate levies, water, electricity etc. We can check all invoices and compile them into a monthly summary. Once approved, we will make all necessary payments from your South African bank account.
Other Services
1. Visas
After experiencing all that South Africa has to offer many clients realise that they would like the freedom to stay longer than 90 days at a time. We can provide initial visa advice and discuss options with you based on your individual circumstances. Following this we can provide a personal referral to a leading South African immigration company who can oversee the entire visa application process for you.
2. Insurance
From the day a property is formally registered into your name we can ensure that adequate insurance is in place for both your building and contents. We will provide you with quotations to choose from prior to registration and arrange for the policy’s commencement to be in line with your registration date.
3. Looking after your vehicles
To protect the battery of your vehicle, we can place it on a trickle charger. To prevent flat spots on your tires (caused by longer term storage) we can provide tyre cushions. We can also make sure that your vehicle is serviced and cleaned before your arrival and we can renew your license discs on an annual basis.
4. Drafting of a will
Assets in South Africa (residential property, shares, vehicles etc.) cannot be legally addressed by a will executed in your country of residence. A valid South African will is needed to ensure that your assets are dealt with according to your wishes in the event of death.
5. Document Storage
Many documents are required to be stored in their original format such as property title deeds, wills, letters of executorship for trusts and financial statements. We can store all of your original documents in our fire proof safe.
6. Property Valuation
Annually we can arrange for three independent sales valuations of your property to keep you up to date with its current market value.
LET US KNOW WHICH OF OUR SERVICES YOU REQUIRE.
What you don’t know you don’t know….
Stefan van Niekerk
+27 83 461 8499
stefan@oculusafrica.co.za
Alberto Prins
+27 83 233 7415
alberto@oculusafrica.co.za
Kelly Myatt
+27 81 868 0296
kelly@oculusafrica.co.za
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