SA work seekers overseas often build up profitable property portfolios "back home"

This may surprise some property trend watchers but a growing number of rental properties managed by the Alexander Swart Property rental division come into their portfolio as a result of the owners going overseas for long or short work assignments.

"We read a great deal about South Africans losing hope in their country and emigrating to other countries," says Janine Swart, CEO of the Alexander Swart rental division, " but, if you  look at the latest additions to our rental stock, you will see that, although some owners are going abroad, most plan to return at some future date. They are leaving SA not because they have  lost faith in the government or its related institutions but because, by working overseas and repatriating some of their earnings, they can on the current exchange rates greatly increase their assets. Some, in fact, authorize us to continue investing in local property on their behalf. This shows that many are still  confident that SA will pull through the difficult economic situation  which Jacob Zuma and his colleagues have caused."

This confidence, added Swart had become evident regularly in her  .....years experience of the property sector.  It seems, she said, that when some are despairing, others continue to invest-much to their long-term benefit.

Asked to list to which countries her temporary expats have headed, Swart said that they  have gone to the UAE and other Middle East countries (where schoolteachers and professionals are highly paid), Germany, the UK and even China.

Those contemplating doing this , said Swart, should find themselves a really trustworthy agent, one capable of managing the tenant, ensuring that he pays his rent and   handling all the necessary outgoing payments on  rates, taxes, services and body corporate levies, where these apply. The agent must also be able to maintain the property in good condition, keeping the accounts for the owner's regular inspection.

An important part of this all-in-one service, added  Swart , is to know accurately what any one property can achieve in rentals. Landlords, especially those owning expensive properties,  are notoriously liable to overestimate possible rents -- but that is because they have lost touch with the market. If the agent bows to the landlord's wishes and overprices the rent, many weeks' rents can be lost before the landlord realizes his error and allows the agent to price the rent at its achievable level.

"Not surprisingly," said, "Swart, " relatively few rental agents are thought to be so reliable that they can be entrusted with the all-embracing  responsibility for the rental operation but, I am happy to say, we at Alexander Swart, seem to have reached the position where many owners -not only those working overseas-are willing to leave the entire rental management to us. And, as rental stock in our areas is still in demand and we vet all tenant applications carefully, we have been able to achieve reasonably satisfactory returns over long periods."

For further information, contact Janine Swart on cellphone..................or by email: janine@asproperty.co.za