With just a few months left until the kickoff, it's time to start thinking beyond the actual soccer that will be played in the 2010 World Cup, and getting excited about the enormous economic benefits all South Africans stand to receive from the event. In addition, we all need to address the question of how we can improve our service levels - no matter what sector of the economy we operate in - so that we all contribute to SA being recognized as a really great host nation.

The most immediate benefit of the World Cup, of course, will be the injection of billions of rands of soccer tourist money into the economy next winter. The organisers expect around 450 000 overseas visitors to arrive for the tournament and their total spend is expected to easily top R7bn - and that's in addition to the billions that have already been spent on stadia and the upgrading of our transport and basic services infrastructure.

Longer term, the major effect is expected to be a permanent increase in tourism as a result of the global exposure SA will receive during the tournament. The Soccer World Cup is definitely the most-watched sporting event in the world, as evidenced by the fact that the 2006 event in Germany attracted a cumulative 5,9bn TV viewers in 54 countries, compared to the 4,7bn people who watched all or part of the Beijing Olympics last year.

As a result of that exposure, Berlin's tourism figures have since doubled - and it definitely does not have the attractions of our nine host cities, especially those on the coast, which are going to be on TV screens all over the world for a whole month next year

And an increase in tourism will of course mean job creation - at an estimated rate of one permanent job for every 12 tourists - which will come on top of the 400 000 new jobs already created in the run-up to the tournament, and profoundly change the lives of many ordinary South Africans for the better.

Which, of course, this is where the real and growing benefits of the Soccer World Cup will lie for our property market - for a long time after the soccer tourists have gone home.

Subdivision costs must be stipulated

Homeowners with large stands are increasingly selling off parts of their property to reduce their home loans, achieve greater security and lower their maintenance costs and property rates.

And the trend is being fuelled by local authorities keen on densification and getting better usage out of existing infrastructure, plus the fact that there is relatively high demand now for empty stands in well-established suburbs.

However, to derive the most benefit from such a move, sellers must ensure that the sale agreement specifically stipulates who is to pay the costs of subdivision.

These costs include the fees for having a surveyor draw up the necessary diagrams, as well as those for council approval and for electricity, water and sewerage connections to the new stand - and can amount to several thousand rand.

And while it is quite likely that the buyer will agree to pay for the subdivision in return for a lower land price, the sale agreement must then make this absolutely clear - otherwise the law will simply assume that the seller, as the original owner of the property, is liable.

Estate home value growth depends on good management

If you are buying a home in an established estate or cluster development, it is important to bear in mind that the future value of your property will depend not only on its individual location and condition, but also on how well the development as a whole is managed by the homeowners' association (HOA).

To gauge this, you need to take the following steps before signing any offer to purchase:

* Establish the percentage of owner-occupants in the community versus the number of tenants. There is a good reason that banks are often reluctant to grant loans to prospective buyers in developments where more than a third of residents are tenants. They know from experience that resident owners are more likely to take care of their properties, and the communal areas and facilities, than landlords who don't live in the community. And the market value of property is directly related to the availability of financing. No loans will mean falling values.

* Ask to see the current assessment/ levy collection record, and find out what percentage of owners are 90 days or more in arrears with these payments. If the percentage of delinquent owners is high, it means the HOA does not have an effective collections policy or procedure and, quite simply, that the management committee is not doing its job properly. Assessment funding is needed to ensure proper maintenance of communal grounds, roadways and security equipment and if funds are inadequate to pay for this maintenance, all home values in the development will be threatened.

* Find out if the HOA has a stated reserve fund requirement and how much it has in this kitty. Such a fund is vital to cover the predictable costs of repairing or replacing communal assets without having to raise special assessments, and should be funded from the monthly assessments / levies paid by owners. A well-run community will have more than 75 percent of the reserves it needs in the bank, and lower levels generally spell trouble because the resistance to paying special levies may well result in necessary repairs and replacements being deferred, to the detriment of property values in the estate.

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