27/03/2025
Exciting Radio Interview Recap! 🎙️
This morning, I had the privilege of discussing the challenges and opportunities surrounding abandoned buildings during my interview on TruFM's Tru Breakfast Show with Boyz Mpumzi and Sinazo Yolwa. We covered a range of topics that I believe are critical for property owners, investors, and city planners alike.
Here’s a quick overview of what we talked about:
🏚️ Why do some buildings become 'ghost' buildings?
Economic decline, absentee ownership, and legal disputes are some of the main causes behind abandoned buildings in cities, especially in CBDs. These properties often fall into disrepair, with owners unable to maintain them or facing lengthy legal processes.
🏗️ How do you buy an abandoned building?
It starts with identifying a property, researching its legal status and ownership, checking for zoning restrictions, and then negotiating with the owner or financial institution (if it’s in foreclosure).
💰 Are abandoned buildings cheaper?
While abandoned buildings may seem like a bargain at first, the hidden costs (renovations, taxes, legal disputes) can quickly add up. It's essential to carefully consider both short- and long-term financial commitments before making a purchase.
⚠️ The pitfalls of buying abandoned properties:
Hidden costs, legal complications, vandalism, and difficulty securing financing are just a few risks to consider when purchasing an abandoned building. It’s important to do thorough research and factor in these challenges when planning a purchase.
🚨 Evicting illegal occupants:
Evictions are a complex process, particularly under South African law. The Prevention of Illegal Eviction and Unlawful Occupation of Land Act (PIE Act) safeguards the rights of occupants, making eviction a legal process that requires patience and adherence to the law.
Despite the challenges, there is growing interest in repurposing these properties, and I’ve been working with clients who are keen on exploring these opportunities.
A huge thank you to Boyz Mpumzi and Sinazo Yolwa for such an engaging conversation on trufm today! 🙏
For those interested in learning more about abandoned buildings or property law, feel free to reach out or drop your questions below. I’d love to continue the conversation!