Reports of TV and radio presenter Phat Joe’s failure to pay his exorbitant rent on his Sea Point apartment, resulting in his eviction, have led many to question – are South Africans, particularly celebrities living way above their means?
PHAT JOE’S EVICTION MAKES HEADLINES
According to the Cape Argus, Phat Joe and his family have been ordered to leave their upmarket Sea Point apartment.
The Western Cape High Court allegedly handed the former Real Goboza presenter an order after he failed to pay his R40 000 per month rent, which had accumulated to R600 000 since 2022.
The ex-Radio 2000 host lived in the home with his wife, Palesa Morgan, his son, Brooklyn, and their daughter, Nairobi.
According to Private Property, apartment complexes in Sea Point range from R10 000 to over R100 000 per month.
HOW MUCH THESE CELEBS PAY TO RENT
Phat Joe isn’t the only celebrity to have made headlines over paying a small fortune to lease their homes.
Here’s how much these stays reportedly paid to rent their mansions…
AKA
After his death last year, the family of AKA – real name Kiernan Forbes – were given orders to move his belongings out of his leased Bryanston mansion.
According to Sunday World, the three-bedroom home was put on the market for rent at R30 000 per month.
AKA, bryanston
AKA’s Bryanston house is back on the market.
Images via Instagram: @akaworldwide
Nandipha Magudumana
Celebrity doctor Nandipha Magudumana is a shocking example of living an “Instagram picture-perfect” life. In reality, the rumoured girlfriend of fraudster Thabo Bester was allegedly engaging in criminal activity.
According to TimesLive, the home is back on the rental market for R70 000 per month.
Dr Nandi, Thabo Bester house
Image via Instagram: @drnandipha
Faith Nketsi
Reality TV star Faith Nketsi is known for her flashy lifestyle, as seen on her MTV hit show Have Faith.
However, the public was shocked to find out that she lived with her now ex-husband, Nzuzu Njilo, in a multimillion-rand rented Hyde Park home.
The couple coughed up R45 000 per month to stay in the upmarket estate.
Faith Nketsi
Faith Nketsi with Nzuzo Njilo. Image: Instagram @faith.nketsi
Phuti Komo
In 2019, former beauty queen Phuti Khomo made headlines for falling behind on her R30 000 lease agreement for a Bryanston home.
Phuti told the Sowetan that she signed the lease on behalf of a friend, who could not keep up with the hefty payments. As such, she landed in a messy legal battle with the property landlord, who sued her for R250,000 for unpaid rent and utilities.
She said: “I made a bad decision that has put me in a bad situation. I’m trying to solve [it] as best as I can through the law.”
BUY OR RENT? WHAT THE EXPERTS SAY
When it comes to property, both buying and renting have their pros and cons.
According to economist Dawie Roodt, purchasing property is always considered a good investment, particularly when it comes to leasing it as an additional income.
He told Salaamedia: “You can use the bank’s money to buy a property and maintain its value in terms of inflation.”
He added: “You need to stay somewhere, so why not buy the place you are staying in?”.
However, Roodt added that the drawbacks of buying were the costs associated with rates and taxes, maintenance costs, and levies.
According to a property report by IOL, as many as 54% of South Africans across all age groups say they are renting simply because they cannot afford to buy”.
Statistica claims that the second quarter of 2023 revealed that the
average monthly rent paid by South Africans stood at R8,375. It added that the Western Cape, KwaZulu Natal, and Gauteng have the most expensive rents.