What is Rent?
A usually fixed periodical return made by a tenant or occupant of property to the owner for the possession and use thereof.
Cheap Rent In South Africa?
| Province | Average rent price | Y-o-y growth |
|---|---|---|
| Limpopo | R7 663 | +4.3% |
| Eastern Cape | R6 777 | +5.1% |
| Free State | R6 391 | +1% |
| North West | R5 985 | +9.3% |
What is the cost of living in South Africa per month?
Numbeo estimates that a family of four would need R30,775 per month, excluding rent, while a single person would need around R8,875. Below is a breakdown of how much it costs to live in the largest South African cities compared to other major cities around the world.
What is the type of rent?
Contractual Rent: It is the rent mutually agreed between the landlord and the tenant under the tenancy contract, which may be written or verbal. Standard Rent: Under Rent Control Acts, the norms for rent payable by the tenant to the landlord were fixed. This was called Standard Rent.
What is the difference between rent and economic rent?
Economic rent is different from rent, such that rent is the normal payment given for temporarily using a service or occupying a given property. In contrast, economic rent is the excess unearned money above the market price. Economic rent and opportunity cost are essential aspects of economics.