COMPILED BY NEESA MOODLEY
Oobainsure, the insurance arm of bond originator ooba, recently launched Rent Protector, a new financial product aimed at tenants, landlords and agents.
According to ooba, Rent Protector will set the new standard for the way in which rentals are processed and set up.
“Oobainsure’s ability to insure landlords against missed rental payments means they don’t have to demand a deposit to cover against potential losses,” says Alex Bartels, national sales manager for oobainsure.
“The zero-deposit option for tenants who do not always have the ability to pay one or two months’ rent upfront to secure a lease also results in reduced financial risk for all parties involved.”
The product is fully compliant with the Consumer Protection Act and is available to all tenants who pass the vetting process and sign a minimum 12-month lease.
Bartels says agents will benefit from Rent Protector because of ooba’s extensive and comprehensive vetting system for all prospective tenants.
Agents will no longer be required to manage trust accounts or handle the onerous eviction process because these processes will be handled by Rent Protector at no cost to the agent. In addition, the agent’s rental commission is guaranteed during a claim for up to three months,” she explains.
If you are a landlord, Rent Protector offers cover for up to three months’ rental should a tenant abscond or remain in unlawful occupation, and up to R50 000 in legal fees associated with eviction, with Rent Protector managing the process on your behalf.
Extra cover includes unpaid utility accounts and damages that occur during tenancy.
Agents and landlords simply need to register online and upload their rental-property details on to the ooba website (ooba.co.za) to apply for Rent Protector.
The Rent Protector policy offers full cover from day one of the lease.
PPS launches new fund
The plethora of unit trust funds you can invest in recently increased with the launch of the PPS Global Balanced Fund of Funds, a global multiasset fund that gives you exposure to global equities and fixed-income markets via selected skilled foreign asset managers.
Duane Litter, business development executive at PPS Investments, says this is a multimanaged global balanced fund that invests in international markets and is diversified across managers and strategies.
“The fund is suitable for investors with discretionary assets that they wish to invest in international markets, or as part of a buildingblock approach in a regulation 28 [of the Pension Funds Act, which limits how pension funds can be invested] portfolio, and who do not wish to make the international manager selection themselves,” explains Litter.
The PPS Global Balanced Fund of Funds will typically have at least 60% invested in global equity markets, but will be diversified across manager strategies and asset classes, including hedged-equity and fixed-income markets.
The benchmark will be calculated as a 60% weighting to the MSCI All Country World Index and a 40% weighting to the Citigroup Global Government Bond Index.
PPS multimanagers will manage the fund, which forms part of the PPS portfolios range.
“As multimanagers, we spend a considerable amount of time undertaking thorough research into local and global managers, so investors avoid the arduous and challenging exercise of selecting managers themselves.
“We visit these offshore managers at least once a year at their own offices and monitor them carefully and continuously,” says Littler.
Absa launches Ready to Work
The launch of Absa’s Ready to Work initiative in South Africa follows the successful introduction of the initiative in Zambia, the Seychelles, Botswana, Kenya, Mauritius and Zimbabwe.
Ready to Work is a free training curriculum that seeks to empower young people with the training and skills they need to enhance their employability and entrepreneurial prospects.
It provides access to world-class learning content that is strategically focused on work, people, money and entrepreneurial skills through online content, face-to-face training and work exposure.
After receiving support from Gauteng Education MEC Panyaza Lesufi, the curriculum is now available in some schools in the province, with further schools set to follow in Limpopo and the Free State.
Sazini Mojapelo, Barclays Africa’s head of citizenship, says: “A key priority of our citizenship strategy is to help young people gain access to the skills and opportunities they need to unlock their potential.
“We have identified education and skills development as a space in which it can make a sustainable contribution through initiatives such as Ready to Work.”
In South Africa, more than 30% of young people are unemployed and underemployed, highlighting how critical it is that young people are provided with the practical skills they need to successfully make the critical transition from education to the world of work.