11. Trade and other receivables
 
  2018
R000
  2017
R000
 
Rent receivable  112 856     83 419    
Allowance for doubtful debts  (49 624)    (33 944)   
Municipal recoveries  60 211     55 462    
Interest receivable        6 704    
Dividend receivable  76 484     57 257    
Withholding taxes receivable  13 482     8 969    
Credit enhancement fee receivable  17 789     17 177    
Prepayments  13 535     15 435    
Municipal deposits  2 996     2 596    
Other receivables  10 342     17 666    
   258 071     230 741    
Movements in allowance for doubtful debts             
Opening balance – 1 July  (33 944)    (28 635)   
Allowance for doubtful debts raised during the year  (31 089)    (18 217)   
Receivables written off during the year  17 509     10 027    
Foreign currency translation adjustment  (2 100)    2 881    
Closing balance – 30 June  (49 624)    (33 944)   
Ageing of impaired receivables             
Current  2 772     3 406    
30 days  1 791     3 286    
60 days  1 218     3 403    
90+ days  43 843     23 849    
   49 624     33 944    
Ageing of receivables past due but not impaired             
30 days  11 911     8 757    
60 days  7 409     5 495    
90+ days  27 872     17 594    
Total  47 192     31 846    

The allowance for doubtful debts has been determined on a tenant-by-tenant basis, taking into account the circumstances of each tenant, including factors such as defaults on payment terms, known insolvency and the legal status of the accounts.

The maximum exposure to credit risk at the reporting date is the fair value of each class of receivable. Save for certain national tenants, a deposit in the form of cash or a bank guarantee is obtained from the tenant in terms of Hyprop’s deposit policy. Furthermore, and only if required, a deed of suretyship is obtained from a tenant.

Management believes that there are no significant trade receivables that are doubtful that have not been provided for as doubtful debts or written off.