City of Cape Town wants millions from Maynard Street tenants
Why the sudden rush? ask residents

In mid-July tenants in Maynard Street, central Cape Town, received letters of valuation from the City of Cape Town estimating that their City-owned homes were worth between R2.6 million and R4 million. Residents had until 16 August to respond with an offer.
Tenants argue that the valuations are too high, as the houses are in poor condition with leaking roofs, mould and falling gutters. The City says the occupants were responsible for maintenance.
Two independent valuations conducted by estate agencies valued the properties at between R1.5 million and R1.7 million in their current condition.
A spokesperson for the Maynard Street residents, Jerome Izaaks, said it was outrageous to expect the tenants to raise finances within a month. âThey want this to happen within 29 days, whereas Iâve been fighting this bureaucratic process with the City for 13 years. Why the sudden rush?â
Izaaks says he asked the City 13 years ago about the possibility of purchasing his property. Then in 2016 tenants were shocked to see their homes advertised in two newspapers.
Izaaks says the City has not proposed a payment scheme or any other form of financial assistance. âThe only consolation at this point is Councillor Stuart Diamondâs firm commitment that no one will be evicted.â
Resident Susan Oelofse met two City officials on 17 August to discuss her options. The visit left her feeling less anxious. âThey know that none of us can afford R2.7 million,â she said. Her hope is that the City and the tenants will âcome to a reasonable agreementâ and that nobody will be forced to leave.
Diamond, the mayoral committee member responsible for assets and facilities, said, âWhen there is a difference between the Cityâs and an external valuerâs market valuation, the two parties will enter into discussions to determine the value ⌠We normally find in these situations that the assumptions of the two parties are different and therefore the values differ.â
He said the City was exploring purchase options. âDue to the unique circumstances of each tenant the City will be engaging on a one-to-one basis with the tenants.â
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