Holiday rental activity is gaining momentum along the Atlantic Seaboard, particularly in Camps Bay and surrounds.
Pam Golding Properties has confirmed a short-term let of R540 000 for one of their listed high-end homes. “The relaxing of water restrictions following the winter rains has certainly restored confidence in this market, and we are seeing a significant increase in enquiries from local and international visitors,” says Dexter Leite, Pam Golding Properties rental manager: Cape region. “There has been a shift in the market and instead of the slow demand we were experiencing in the run up to season, we are seeing bookings filling up.”
“In Camps Bay particularly, Pam Golding Properties’ rental division has a handpicked portfolio of bespoke properties for the discerning client,” says Janine Sullivan, rental agent for the area operating out of the Camps Bay office. “We are seeing keen interest in contemporary properties with top-of-the-range fixtures and features.”
Sullivan, who has more than 11 years’ experience in this rental market, says many of her clients want to make use of the full-service management offering provided by Pam Golding Properties, rather than manage their rental property on their own.
“We provide administrative and operational day-to-day support to ensure we that we deliver the best possible service in any scenario.”
Sullivan says knowing that an agent is always available to deal with any challenge that may arise during the holiday let period, offers clients considerable peace of mind.
Beyond Camps Bay, enquiries for other luxury apartments such as the Waterclub in Mouille Point, have also been brisk. Here, tenants can enjoy additional comforts such as a 24/7 concierge and a dedicated host. “This is the kind of hospitality many of our top-end clients desire,” says Sullivan.
The short-term rental market peaks as Cape Town heads into the holiday season, but Sullivan points out that many clients are also happy to negotiate longer short-term lets of up to three months. This minimises the frequent rotation of guests through a property, giving the homeowner some continuity without having to receive new guests every few days.
Camps Bay is also proving to be the area of choice for corporate clients looking for long-term lets. Frequently requested features for these rental properties, which are predominantly freestanding homes, include security and water management devices such as boreholes. Homes are typically let for around R50 000 to R60 000 a month.