How Much Is Occupational Rent In south Africa

What is Occupational Rent?

Occupation rent is when the person who stays in the home is required to pay rent to the person who left the home to compensate the person who no longer lives in his or her home. It is important to note that occupation rent is not available to every person who moves out of his or her home after separation.

How much should occupation rent be?

How is occupational rent calculated? According to Jacobs, occupational rent should ideally equal the amount the property could be leased for under normal circumstances – typically between 0.55% and 0.7% of the purchase price per month.

Does occupational rent include utilities?

Occupational rent is a flat rate for occupation, and does not include water and electricity which is usually for the occupant’s account. Rates and taxes are normally the responsibility of the owner, unless otherwise specified in the Agreement of Sale.

How is rent calculated in South Africa?

How Is Rent Calculated In South Africa? There is generally an untended rental price between 0 and 20 cted to between 0. Property owners pay 1% of the monthly rent. As a result, rents based on this increased value will rise.