How Does A Property Stokvel Work? | From Book Pen Stokvel to Online System Stokvel Development in South Africa
How Does A Property Stokvel Work? | From Book Pen Stokvel to Online System Stokvel Development in South Africa
Traditionally, a Stokvel is a pooled savings scheme, whereby members opt in to join a savings club or society, and each contribute a set amount of money every month. Then, based on a predetermined rotation, each member would receive a lump sum payout at a specific time of the year. Stokvel have, historically, operated mostly outside the realm of traditional banking systems, but that’s changed over time too. Historically, stokvels can be traced back to the early 19th Century, when they were focused on rotating cattle auctions. Nowadays, however, stokvels have become far more formal undertakings. In particular, the idea of a property Stokvel is going mainstream.
A Property Stokvel
A property Stokvel takes that savings and investment approach, and applies it to the property world. Making property ownership and investment a more accessible option for many people, property stokvels are sprouting up across the country. Like-minded and eager property investors get together to pool their financial resources, investing in a particular property together, or purchasing land to develop for commercial, industrial, or residential, purposes.
A Property Stokvel Can Be Used To:
- Buy a property to maintain, manage, and rent out, with the stokvel participants each taking a share of the rental income;
- Buy a piece of land to develop and build on;
- Purchase shares in a property investment portfolio, to create annuity income for members;
- Put down a deposit on a particular property or,
- Secure homes for every member of the stokvel in a cascading fashion. Some property stokvels are used to purchase homes or investment properties for members, with the order of each purchase linked to when a member joins.
ElmMac, We offer short term and long term platforms tailored to your needs. We create custom Stokvel websites, you tell us exactly how you want the system to work and we will design it according to your needs.
The Coin Auction System
The Crowd1 System
Upliner Fee Payment System
Levels Ugrade System
Matrix & Binary System
The Basic Stokvel System
The Keeper Stokvel System
The Matrix Stokvel System
Multi Level Marketing System
Peer -Peer (Donation) System
All the features you need to run your Stokvel online, we can develop it. Contact Us