Cash-strapped tenants must meet their obligations, along with lots of other commitments
26 September 2024 - 04:00
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A good few years ago financial publications promoted the idea of “buy-to-let”, and while I am sure it hooked a few “entrepreneurs” who made money, it also burnt lots of people.
Budding property moguls failed to factor in interest rate increases, maintenance costs, delinquent tenants and the sheer hassle of monitoring/managing the investment.
I cannot help getting the same feeling right now as the property industry is hell-bent on reviving the market — “Time to get a foot in the door?” (Cover Story, September 12-18) is a hard sell.
I am no property guru, but the value of nonperforming home loans is disturbing.
I am glad I am not a landlord relying on cash-strapped tenants to meet their obligations each month along with lots of other commitments.
Tony Ball Gillitts
The FM welcomes concise letters from readers. They can be sent to fmmail@fm.co.za
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
LETTER: The problem with buy-to-let
Cash-strapped tenants must meet their obligations, along with lots of other commitments
A good few years ago financial publications promoted the idea of “buy-to-let”, and while I am sure it hooked a few “entrepreneurs” who made money, it also burnt lots of people.
Budding property moguls failed to factor in interest rate increases, maintenance costs, delinquent tenants and the sheer hassle of monitoring/managing the investment.
I cannot help getting the same feeling right now as the property industry is hell-bent on reviving the market — “Time to get a foot in the door?” (Cover Story, September 12-18) is a hard sell.
I am no property guru, but the value of nonperforming home loans is disturbing.
I am glad I am not a landlord relying on cash-strapped tenants to meet their obligations each month along with lots of other commitments.
Tony Ball
Gillitts
The FM welcomes concise letters from readers. They can be sent to fmmail@fm.co.za
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