Yes, all our properties are built according to full council regulations.
Bitprop does not have an office in Khayelitsha. The best way to contact us is on our WhatsApp line (079 873 6273).
Bitprop will provide you with a monthly report on the rent collected and expenses incurred for your property and per flat.
Bitprop will retain the tenant’s deposit, which will receive interest for the duration it is kept by Bitprop, in accordance with law.
If a tenant pays late, you will not receive your portion of rent for that month. Bitprop will process payments once a month on the 7th of the month. If a tenant only pays after this, their payment will not be included in that month’s payment to you. You will still receive your portion of that payment, but it will be paid with the following month’s payment. If a tenant does not pay at all, they will receive a notice of eviction, as you will need to readvertise the flat to find a new tenant. It is not possible for them to pay with their deposit.
If one or more flats is empty for a month, the total rent collected will be reduced. You will still receive 15% of whatever has been collected.
Bitprop has the benefit of having worked in a similar way with many homeowners. We will provide guidance to you about how best to manage your property to ensure that all tenants are happy and that things run smoothly. Before construction is complete, we will provide you with educational material that will allow you to train adequately to be a property manager. Completing this training is mandatory for all homeowners, even if you have prior experience with managing a property.
Bitprop partners with a number of local companies and contractors to complete the building process. You will not be directly involved with the construction company, as Bitprop will oversee and manage the construction process. You will only need to provide them with access to your property for the duration of the construction process.
Once construction has been completed, Bitprop will provide you with assistance to manage your property. Bitprop will collect all rent and handle deposits, provide rent agreements, insure the flats and provide reasonable maintenance as and when necessary.
Every flat has individual water and electricity meters that the tenants will pay for.
Bitprop will provide lease agreements for all tenants. It is essential that all tenants sign a lease agreement.
As the property manager, it is your responsibility to find tenants for your property. We will provide assistance, however, by advertising online as well.
We decide, together with you, what the appropriate rent is for the flats we build in your area.
We are currently only building bachelor flats, but in the future, we would like to explore 1 or 2-bedroom flats, as well as mixed-use options.
Once construction has finished, our rent sharing agreement begins and continues for 8 years.
The rental sharing process is how we pay for the construction process. Instead of you needing to pay anything in the beginning, we help you create an asset that can generate income (the flats) and we share the income from that until our agreement ends.
We split the rent 85/15 each month. This means that you will receive 15% of the total rent collected. This remains constant regardless of how much rent is collected. If a flat is empty, you will still receive 15% of what is collected. Bitprop uses the 85% it keeps to repay the building costs and to pay for maintenance and insurance of the flats.
All tenants pay rent directly to Bitprop. We will pay you your portion of the rent once a month, once all payments have been processed.
You as the homeowner will not need to contribute any money towards the construction process, and there is no application fee. You will pay by providing access to your property, providing property management skills and by sharing your rental income with us for the duration of the agreement between us.
Once construction begins, the process takes between 6 and 8 weeks, although delays can sometimes occur due to bad weather or protests.
Once you have submitted your application, we commit to responding to you within two weeks to let you know whether your application has moved to the next stage, or been declined. Please note: there is no guarantee that your application will be approved, even if it has moved past the first stage. There are a number of factors we consider during the approval process.
We have a standard building design that we use on every property, so the number of flats we build depends on how many of those ‘standard’ flats will fit on your property. Our properties range between 4 and 8 flats, depending on the space available.
Unfortunately, the law requires formal approval from the building council, who requires that the applicant has a title deed to their property. This means that, for now, we require a title deed to be able to build. An important part of our long-term ambition is to be able to overcome this barrier and we are constantly engaging with the council and looking for innovative ways to solve this problem.
At the moment we are only building in Khayelitsha, Cape Town. We have received applications from all over Cape Town, as well as other parts of South Africa and abroad, which helps us determine where we should expand to in the future. Due to limited capacity, however, we will only be able to respond directly to applicants who have applied for properties in Khayelitsha. Applicants from other areas will be kept in our system so that we have your details and can contact you if we begin operating in your area.
We are committed to expanding our reach to as many people as possible, so keep checking back here in case we have updated our criteria list. We are actively working to expand our presence to new areas of Cape Town and beyond, as well as to be able to work with people without title deed. At the moment, to be considered, we require: - Title deed - Property in Khayelitsha, Cape Town - Space in your backyard for rental flats