Issue 20 | Buy, Sell, Rent, Properties, Cape Town

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The Greeff Magazine Issue 20, prosperity through property.Spectacular properties, chocolate desserts to diet for, city happenings.First Off By Mike GreeffAt the start of 2011 we finally received the news that the globally respected Christie’s International Real Estate had selected Greeff Properties as an affiliated broker. Since then we’ve been firing on all cylinders. Greeff has been growing steadily since we opened our doors in 2001, and this affiliation really is the cherry on the top. Only property brokers who have a leading market share in high-end properties, and who meet strict standards of service excellence, while demonstrating success in handling distinctive properties, can become a Christie’s International Real Estate affiliated broker.Christie’s, founded in 1766, is the world’s oldest fine art auction house, and as its wholly owned subsidiary, Christie’s International Real Estate boasts instant brand recognition, along with an assurance of quality service and discretion in real estate transactions. This was hugely evident at the recent Christie’s conference in London, which I was privileged to attend.The conference theme was “global connectivity through strategic marketing.” A fascinating array of topics was covered by extraordinary speakers. Particularly interesting was Rupert Hoogewerf ’s presentation on the impact of Chinese wealth on real estate. Rupert publishes the Hurun Report – a monthly magazine best known for its “China Rich List,” which reflects wealth of staggering proportions. Topping the list is The Sany Group’s founder, Liang Wengen, with a fortune of 70 billion Yuan ($11 billion). “China’s rich have defied the global financial crisis with another record year of growth,” says Hoogewerf, adding that 29 individuals in the top 50 count property as one of their main sources of wealth. Our Christie’s affiliation means it’s possible to target the very cream of these potential Asian buyers, among others, internationally.Through Greeff, you can now get access to the programs designed to market your home worldwide, utilising the targeted venues of Christie’s auction house as well as a vast network comprising more than 125 affiliates in 1 095 brokerage offices and 32 000 sales associates in more than 40 countries! The Christie’s Bespoke Marketing and Private Placement programs are prime strategic examples – these make use of a confidential, discreet and personalised approach, which means privileged introductions are made to a targeted clientele, hand selected according to their interests and buying tendencies.Furthermore, as gold is holding its own and the Rand has weakened, we’re once again looking very attractive to foreign investors, and international trends show that wealthy investors want a stable economy to invest in. As one of the BRIC countries, SA is perceived to offer a stable environment in which there is still potential growth. What better place for the foreigner who has money, and is not willing to place it with the paralysed European economy, where banks have an iron grip on the market?Back home, here at Greeff, in the last six months, under the banner of our new affiliation with Christies, we’ve concluded a number of deals including a R26.2 million sale in Silverhurst, Constantia and in Bishopscourt, we sold a property for R54 million. Our YTD sales are 34% above YTD sales of 2010, which is, however, not a reflection of the market, which has only grown by a few percent over the last year; it’s rather, a reflection that Greeff is growing within the market space we presently cover – Southern Suburbs, False Bay, City Bowl and Atlantic Seaboard. We plan to continue growing organically, evolving and bringing clients the best possible service in the real estate industry. Wishing you all the best for the next quarter and the upcoming festive season.PS: We’ve also launched the Greeff Bespoke Marketing program with tailored solutions for a select number of properties. To find out more about both the Christie’s Bespoke Marketing and Greeff Bespoke Marketing programs, please call Simon Raab on 021 763 4120 and we’ll arrange a private consultation with a qualified agent.Tanya Wheeler Designs.Introducing a young, contemporary, unselfconscious collection, which allows you to design your own look with a unique combination of colours, textures and statements. It’s a good thing Tanya Wheeler’s jewellery is designed to be mixed, matched and layered, because it’s virtually impossible to settle on one piece alone. If you love colour, there’s a glorious array of woven or knotted friendship bracelets and a wide range of semi-precious beaded ones too. Wear them alone or grouped and pick a few charms to get your message across. There are Buddhas made from semi precious stones or shell, as well as the likes of peace signs, hearts, ohm signs and praying hands from the Anjali collection, which Tanya created in collaboration with Melissa Brake who runs a yoga studio in Newlands. You can also opt for simple shapes with engraved text in matt, beaten, textured or forged sterling silver.Also showcased, is Tanya Wheeler’s signature Link Collection. Inspired by images of bubbles overlapping, and reflecting colour and light, the pieces have a 70s retro feel but are crafted with a delicacy which renders them very ‘now.’With its clean architectural lines and white walls, the minimalist interior of Tanya’s recently opened showroom in Newlands provides a classy, restrained canvas for these wearable little works of art. Here, the items take centre stage. Having said that, these are not dramatic pieces; they’re intimate and personal – this is jewellery you’ll feel comfortable enough to wear every day. It’s not to be stashed away in a lock-up, waiting for a special occasion. Happily, it’s all surprisingly affordable too.Tanya has also designed beautiful leather shopping bags in grey, coffee and mustard. And there’s a selection of silk scarves and wraps, all of which will make perfect stocking fillers for the festive season ahead. Tanya also makes jewellery to order, including engagement rings.Tanya Wheeler Designs, Shop 5 Kildare Centre, corner of Kildare and Main Roads, Newlands. www.tanyawheeler.com Tel: 021 6714731. SOME LESSER KNOWN, CRUCIAL FACTS ABOUT TENANT RIGHTSLandlords and Tenants alike are often uninformed as to the extent of their deemed and nonnegotiable obligations and liabilities under the Rental Housing Act. Of importance specifically are the provisions dealing with deposits and the incoming and outgoing inspections.DEPOSITSWhat are the rules with regard to deposits? The Rental Housing Act requires that:

 The Landlord must, after receiving the deposit (or any other payment), furnish the Tenant with a written receipt in respect thereof.

 The Landlord must invest the deposit in an interest bearing account. (This is of course only applicable if the agreement requires a deposit to be paid – which aspect is negotiable between the parties.)

 The interest will accrue for the benefit of the Tenant and must be repaid to the Tenant on the termination of the agreement.

 The interest rate applicable to the deposit must be the same (or more) than that which the relevant financial institution applies to a savings account held at that institution.

 The Tenant may at any time during the period of the lease ask the Landlord to provide him with proof of the interest accrued on the deposit and the Landlord must then provide such proof. (If the Landlord is an estate agent, the keeping of the deposit is dealt with in accordance with the Estate Agency Affairs Act). Importantly, these provisions are deemed to apply to a residential lease – whether or not they are actually included in the written or verbal lease agreement – and the parties cannot contract to the contrary.

INSPECTION OF THE PREMISESAnother important provision of the Rental Housing Act relates to the inspection of the leased premises before commencement and upon termination of the lease by both parties or their representatives. The following strict provisions are contained in the Act:

 The Landlord and Tenant must perform a joint incoming and outgoing inspection.

 If the Landlord fails to do the outgoing inspection, it will be deemed that the Landlord agreed that no new damage was effected to the premises during the tenancy. If the Tenant fails to attend the incoming inspection, it is deemed that he accepts that the premises are without defects.

 If on the outgoing inspection the parties agree that there are no damages, the deposit must be refunded to the Tenant within 7 days of termination of the lease.

 If there are damages, the deposit must be refunded within 14 days after the Landlord has repaired the damages.

 If the Tenant did not attend the outgoing inspection, the deposit must be refunded within 21 days of the termination of the lease. The Landlord may, however, hold back such amounts as may be necessary to repair any damages.

 It is important not to forget that these provisions are deemed to apply. Therefore a Landlord cannot contract out of these obligations and is obliged to perform the inspections, even if the lease agreement states that the Tenant must complete and submit a list of defects. Moreover, these provisions apply to all residential leases. Therefore, whether or not you are entering into a long-term residential rental or short-term holiday accommodation rental, compliance is required. Make sure your lease is compliant. Contact the attorneys at STBB | Smith Tabata Buchanan Boyes at info@stbb.co.za for assistance with all your lease requirements.

Out and AboutDining in Hout Bay, Exploring the lively harbour, walk on the beach, trawl the craft markets, marvel over the astounding array of creatures at The world of Birds or simply take in the view – but whatever you do, don’t leave Hout Bay without sampling the fare. Kushi Indian RestaurantLocated in picturesque Hout Bay, Kushi Indian Restaurant, with its gentle ambience and plush interior presents its patrons with authentic Indian food and drink, letting you experience the best of regional Indian cuisine as well as Indian dishes popularised by Indian émigrés to the United Kingdom and South Africa. Experience an aromatic voyage of delectable discovery from the mouth-watering starters through to the irresistible desserts. Visit the Bollywood Lounge for a more relaxed atmosphere where you can kick back, smoke a hubbly bubbly and enjoy Indian hospitality to the fullest. The Bollywood Lounge is available for private functions, so add a twist to your event with an eastern flavour. Tel: + 27 21 791 4805 / 073 509 1742 Shop 7 Red Sails, Main Road, Hout Bay, Cape Town, South Africa www.kushiindianrestaurant.comDelish Restaurant“Adore the simple things in life…” Housed in a 120-year-old farmhouse in the heart of Hout Bay village, Delish Restaurant is a home-from-home establishment serving delicious gourmet fare to satisfy every palate. With its relaxed environment and sexy, chilled background music, you’ll feel at home, regardless of whether you’re dressed to the nines, or if you’ve just stepped off the beach. Brimming with creative inspiration to nurture the soul, Delish is Hout Bay’s favourite restaurant venue. Watch out on Facebook for the monthly Delish Chef ’s Challenge: Two Chef ’s each prepare a three-course meal and you get to try both and judge the winner. At R200 per person, this is a fun, relaxed, delicious and affordable evening. Breakfast and lunch served seven days a week from 8am to 5pm. Dinner served Friday and Saturdays from 5pm to 9.30pm. Bookings: 021 790 7165 info@delidelish.co.zaThe Lookout Deck RestaurantFrom the spectacular wooden deck suspended over the water, you can watch the bustling harbour, where local fishermen weigh in their catch of the day, boats of all shapes and sizes jostle for space and charming Cape fur seals frolic, it would seem, solely for your entertainment pleasure. The menu includes freshly caught line fish – brought in daily by the local fishermen, succulent LM prawns, plump and juicy black tiger prawns, fresh, steamed black mussels, legendary, tender calamari steaks and eared yellow fin tuna steaks, as well as the finest cuts of local A-grade meats. Appetizing salads, lighter snack baskets, wood fired pizzas and hearty breakfasts are also available. Pop in for a sun downer and enjoy local, live music on selected nights. The restaurant also caters for all functions including private, corporate and year-end parties. Open Monday to Friday from 10am to 10.30pm. Saturday, Sunday and public holidays from 9am to 11pm. Tel: 021 790 0900. www.thelookoutdeck.co.zaGreeff Properties, Residential and Development sales of property or real estate, residential and commercial rentals of properties, retirement complexes, homes and land in the Southern Suburbs, Atlantic Seaboard, City Bowl, CBD, False Bay, Overberg, Western Cape.Bishopscourt, Clarement Upper, Nieuwe Steenberg – Steenberg, Constantia Valley, Constantia Upper, Constantia, Camps Bay, Kenilworth Upper, Claremont, Newlands, Rosebank, V&A Waterfront, Gardens, Higgovale, Noordhoek, Simon’s Town, Fish Hoek, Capri, Tamboerskloof, Waterfront, Vredehoek, Rondebosch, Wynberg, Kenwyn, Southfield, Glencairn Heights, Sun Valley, Milkwood Park, Lakeside, Bergvliet, Diep River, Kenilworth, Hout Bay, Muizenberg.