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Rent-pro­tec­tion in­sur­ance

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.

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