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Commissions/Fees
Commission on Sale of Vacant Land
- 7.5% on the first R 100,000.00 plus VAT
- 5.0% on the next R 900,000.00 plus VAT
- 2.5% on the balance plus VAT
Commission on Sale of Buildings:
- 6.0% on the first R 2,000,000.00 plus VAT
- 3.5% on the next R 1,000,000.00 plus VAT
- 2.5% on the next R 1,000,000.00 plus VAT
Commission on Leases:
| 5.0% first 2 years: |
First year's rental x 12months x 5% plus VAT |
|
Second year's rental x 12 months x 5% plus VAT |
| 2.5% next 3 years |
Third year's rental x 12 months x 2.5% plus VAT |
|
Fourth year's rental x 12months x 2.5% plus VAT |
|
Fifth year's rental x 12 months x 2.5% plus VAT |
| 1.5% next 3 years |
Sixth year's rental x 12 months x 1.5% plus VAT |
|
Seventh year's rental x 12 months x 1.5% plus VAT |
|
Eighth year's rental x 12 months x 1.5% plus VAT |
| 1.0% on the balance |
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Admin Fees:
Drawing up contracts R800.00 plus VAT
Valuations (costs to be negotiated)
STAMP DUTY – GENERAL NOTES
- Applicable from 1 January 2005
- .50 per R100 irrespective of period
- Time period for stamping - 30 days after second signature
- Landlord must sign within three months of Tenant and lease must be stamped
within 30 days
- Penalties: after 30 days a 10% penalty is added for every month or part
thereof.
- If lease discovered unstamped by inspector or commissioner, interest +10
%
- Gross evasion: additional duty would be double of unpaid duty imposed by
commissioner
- Stamp duty paid on rental not on market value of property
- Stamp duty R200 or less is exempt
- Renewals regarded as new leases - stamp duty @ .50 per R100
- No stamp duty on VAT if applicable
- Cession of lease exempt of stamp duty
- Defacement /cancellation of stamps: Landlord is responsible or revenue
officer. If Mandate for agent to sign the lease then they can cancel the stamps.
Each stamp to be initialled individually
- Stamps cannot be defaced after expiration of 30 day period, only SARS
- For a lease to be used it must be correctly stamped and initialled and
any penalties applicable must
Within next year or two, no revenue stamps - will be electronic or by SARS
receipt
Management Fees:
Collection fees: 3% plus VAT of gross receipts
This percentage is negotiable.
Fixed monthly management fees are also negotiable
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