City of Cape Town offers rental properties for sale to existing tenants

City of Cape Town offers rental properties for sale to existing tenants

The City of Cape Town has identified about 10,700 properties that could easily be transferred at a substantial discount to some of its qualifying legal tenants, the city said on Sunday.


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Over the past 30 years, the city had systematically transferred more than 54,000 of its saleable rental stock units to qualifying legal tenants, mayoral committee member for human settlements Benedicta van Minnen said.


“We hope to step up our efforts to drive this sales initiative further in line with our commitment to redress, empowerment, and enhanced financial sustainability through home ownership. The units that are on sale are cottages and maisonettes and the prices would range from between R2300 and R123,000, depending on the individual’s circumstances.


“This initiative focuses on two key considerations – we want to encourage empowerment and redress through the ownership of property by residents who were previously prohibited from enjoying such benefits, and we want to ensure that we become a more financially sustainable city by reducing the rental stock that we manage,” Van Minnen said.


The units for sale were situated across the metro, including Mitchells Plain, Khayelitsha, Macassar, Melton Rose, Nyanga, Scottsdene, Strand, Sarepta, Athlone, Heideveld, Grassy Park, Hanover Park, Hout Bay, Ocean View, Retreat, Elsies River, Belhar, Langa, Ravensmead, Atlantis, Bishop Lavis, Bonteheuwel, Gugulethu, Manenberg, and Valhalla Park.


Multi-storey blocks of flats were not being considered for sale at this stage as they could only be sold through sectional title as set out in the Sectional Title Scheme Act.


This initiative was funded by the city in conjunction with subsidy provisions as per the Enhanced Extended Discount Benefit Scheme available to qualifying legal tenants who may be interested in taking transfer/ownership of their rental units.


The city urged its tenants living in the areas mentioned to visit their local housing offices immediately to inquire as to what type of assistance they would qualify for.


To determine eligibility, applicants had to produce proof of income – either an employer’s report, salary advice, or payslip not older than three months; if unemployed, an affidavit; or if self-employed, six months’ basic certified income and expenditure statements with supporting documents, if applicable.


Also required, were proof of identity – identity documents of both tenant and spouse (if applicable); and proof of marital status – marriage certificate/affidavit of customary marriage/Muslim rites 

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