The Tshwane Metro cannot keep financially bailing out the Housing Company Tshwane. It is unsustainable and a waste of money.
The Housing Company Tshwane, an entity of the Metro responsible for managing 2 107 housing units, records a significant rental income loss annually and struggles to carry out essential maintenance on the buildings.
Only 33% of rental income is collected annually, while the 160 Clarina housing units in the CBD have a collection rate of just 9%.
Due to the low collection rate, the Metro is forced to subsidise the shortfall. If the Company were efficiently managed and generated a profit, these funds could have been used for improving the Metro’s infrastructure.
The Housing Company Tshwane pays more than R50 million in salaries, including those of board directors.
The Freedom Front Plus (VF Plus) insisted during the last council meeting that a comprehensive review plan be implemented to ensure financial sustainability. Rental agreements should be stringently enforced to reduce defaulting.
Subsidies should be reduced so that the Housing Company can function independently, while partnerships with the private sector should be facilitated to provide a sustainable alternative to public funds.
Housing, particularly social housing, is essential but needs to be managed responsibly. Repeatedly providing financial assistance to the Housing Company places an unfair burden on taxpayers.
FF+ Manifesto on Good governance: Ensuring effective and efficient governance.
Meep
Jamaica: You have two cows. They win 25 gold medals at the Bovine Olympics.
noh noh
A baby was born in South Africa. The village was very poor, and the makeshift hospital didn\’t have some necessary equipment.. such as scales.
The father however, was desperate to know the newborn baby\’s weight. After quite a bit of asking around, the hospital\’s chairman came up with an idea.
\”Five miles west, there\’s a butcher shop. The owner deals with meat, he should have a rather precise scale. You could just put your baby on the meat scale, and the weight reading you\’ll get should be pretty accurate.\”
And so the father departed westward. After much walking, with his newborn child cardled safely in his arms, he finally arrived at the butcher shop. He explained his dilemma to the shop owner, to witch the latter replied:
\”Don\’t worry, friend. It\’s not even a problem, I\’ll check it for you, free of charge.\” And so he took the child to the back, where the scale was located.
The father heard rumbling noises, and some scraping.. About a minute later the butcher came back.
\”About three pounds boneless\” He said.