Subcouncil 22

Resolution details

RESOLVED
                                                           

1. That Subcouncil 22 recommend 

1. A market rental of R550 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable;
2. The monthly rentals is to be adjusted on the basis of 8% per annum compounded annually on a pro rata basis commencing 2 months from date of this evaluation. Accordingly, the above recommended rental is effective and payable as from 2018-11-01;
3. The rental will escalate at 8% per annum;
4. The rental to be reviewed after five (5) years;
5. The lease will endure for a period of ten (10) years;
6. The property be used for encroachment purposes only;
7. Subject to such further conditions to be imposed by the Director: Property Management in terms of her delegated authority;
8. Subject to compliance with any other statutory requirements;
9. No compensation will be payable for any improvement made to the property.

2. The Proposed Lease Encroachment onto Public street, Portion of ERF 351 Adjacent to ERF 493, Corner of Muscar and Musante Roads, Rustdal: J&D Family Trust, BE SUPPORTED.