Illustrative image · not a photograph of the project.
6Existing rental units
5 + 1Rental rooms + house
R72,000Proposed renovation capital
PlannedImplementation subject to conditions
THE PROPERTY OPPORTUNITY
Better use of what already exists.
Ikhaya Residence comprises five rental rooms and one house in Nazareth Island, Pinetown. The plan is to improve the accommodation, strengthen its rental potential and manage the resulting operations through a defined project structure.
Planned monthly rent: R13,500. Five rental rooms at R2,100 each, plus the larger house at R3,000.
Project term: 36 months. The property owner is allocated R6,000 monthly. Other allocations remain unchanged.
MYENI will coordinate the agreed renovation scope, oversee project expenditure and manage tenant and rental administration. Final quotations, property due diligence and signed agreements are required before implementation.
PLANNED IMPROVEMENTS
Practical upgrades. Everyday comfort.
Doors & windows
Aluminium replacements within the agreed scope.
Floors & ceilings
Tiling and ceiling installation for improved interiors.
Bathrooms & plumbing
Five indoor bathrooms and kitchenette sink plumbing.
Finishes & painting
Interior and exterior painting and finishing work.
RENOVATE–MANAGE–RECOVER
A clear path from improvements to operations.
01
Renovate
Confirm the scope, coordinate works and monitor the budget.
02
Manage
Oversee tenants, rental collections and ongoing property care.
03
Recover
Distribute actual collections under the signed funding structure.
PROPOSED PROJECT FUNDING
Understand the opportunity before participating.
R18,000Proposed contribution per external funder
18 monthsTarget repayment at 100% rental collection
50%Proposed simple total ROI · not annual
The proposal provides for R27,000 in total receipts per funder: R18,000 capital plus R9,000 proposed profit before funder tax. Three external funding places are contemplated; current availability must be confirmed.
Capital is at risk. Returns are not guaranteed. Lower rental collections extend repayment. Review the full proposal and agreement for payment priorities, risks and conditions.
READ BEFORE YOU ENQUIRE
The public project summary.
Read online or keep a PDF copy. The full funding proposal is available on request.
MYENI PROPERTIES / PUBLIC SUMMARY / 28 SEPTEMBER 2026
Ikhaya Residence
Renovate–Manage–Recover Project
01 / PROJECT SUMMARY
The opportunity
Ikhaya Residence is an existing rental property at Nazareth Island, Pinetown, comprising five rental rooms and one house. MYENI proposes a defined renovation programme to improve accommodation quality and rental potential, followed by active property management. This is a planned renovation project, not an announcement that works are complete.
02 / PROJECT SUMMARY
What the renovation covers
The planned scope includes aluminium doors and windows, tiling, ceilings, five indoor bathrooms, interior and exterior painting, and plumbing for bathrooms and kitchenette sinks. Final scope and spending remain subject to verified quotations and project approval controls.
03 / PROJECT SUMMARY
Renovate. Manage. Recover.
Renovate: coordinate the agreed improvements and monitor expenditure. Manage: oversee rental operations, tenant administration and collections. Recover: distribute actual rental collections under the signed project agreements. The proposed property project term is 36 months; this is separate from the funder repayment target. Planned monthly rentals are R2,100 for each of the five rental rooms and R3,000 for the larger house, totalling R13,500 at full collection. The property owner is allocated R6,000 monthly. Other allocations remain unchanged.
04 / PROJECT SUMMARY
Proposed funding overview
The proposal provides for R72,000 in renovation capital: R54,000 from three external funders contributing R18,000 each, and R18,000 from MYENI. Each funder's proposed total entitlement is R27,000, comprising R18,000 capital and R9,000 profit before funder tax. The simple proposed total ROI is 50%, not an annual rate.
05 / PROJECT SUMMARY
Repayment and risk
The 18-month repayment target assumes 100% collection of the proposed R13,500 monthly scheduled rent. Lower collections reduce monthly distributions and extend the repayment period. Vacancies, arrears, renovation delays and unexpected costs can affect outcomes. Capital is at risk and returns are not guaranteed. Property ownership or security is not granted by this summary; any such rights require a separate documented agreement.
06 / PROJECT SUMMARY
How to enquire
Request the full funding proposal from MYENI before making a decision. Participation is subject to project due diligence, approval and signed agreements. Stokvel membership and project funding are separate steps: joining does not automatically allocate a funding place. Current availability must be confirmed with MYENI. Tenant deposits are held separately and are not used as funder income.
This public summary is based on the September 2026 proposal, incorporating the 50% ROI revision and the project term and owner allocation revisions of 28 September 2026. It is not a funding agreement or an offer of guaranteed returns.
LET’S DISCUSS THE DETAILS
Request the full funding proposal.
Ask our project team for the full proposal, current availability and next steps. Your email or WhatsApp app will open with an enquiry ready for you to send.
Explore the membership documents and application process. Membership does not automatically secure a place in this project; funding requires its own approval and signed agreement.
