Author: Editor

POPI: Are you prepared?

“Personal information is an integral part of the real estate business. The more an agent knows about a client, the better equipped they are to finding the ideal home that meets the individual needs of that client.” This could be the year the Protection of Personal Information Act (POPI) becomes operational, following which there will be a 12 month window period before compliance is formally policed. Being legislation with far-reaching implications also for the property industry, here is the latest on what is happening with POPI. When the POPI Act was signed into South African law in November 2013,...

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Airbnb: How sectional title complexes manage these ‘tenants’

“However, judging by the number of Cape Town apartments listed on Airbnb, the owners clearly don’t think that these bylaws apply to them.” Airbnb has gained so much ground in SA and participating property owners are making so much money from the concept that many sectional title (ST) complexes and estates have given up on trying to prevent owners from letting their homes and apartments on this platform, and are focusing instead on holding those owners accountable for any security, maintenance and conduct issues that may arise. So says Andrew Schaefer, MD of national property management company Trafalgar, who...

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Letter: New Sectional Title Management Act good for sectional title owners?

Owners of Sectional Title Schemes should have a far simpler act with some very basic principles and then be left to get on with it. Battling with the complexities of the new Sectional Title Management Act (STMA), Mike Spencer, professional valuer with Platinum Global, wrote in a letter to Property Professional that he thinks the Act should be simpler or perhaps even scrapped and the ‘practical and well-understood’ Sectional Title Act brought back. Coenie Groenewald, COO of the National Association of Managing Agents, while acknowledging that aspects in the Act may give rise to confusion, advises to give the...

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BEE compliance can’t be ignored any longer

Jan le Roux, CEO of Rebosa. PHOTO:  Zoom Photography, photographer Christiaan Coetzee “Laws and regulations are never perfect and our challenge and duty now is to support transformation as best and as fast we can” The Amended Property Sector Code, and Scorecard, was published last June and became effective immediately. It was received with some resistance and criticism from within the property industry for various reasons, but however it’s imperfections it is in the sector’s best interest to support the Code says Jan le Roux, CE of Rebosa “I believe the Property Charter has been ignored, viewed with suspicion, discarded...

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Rates decision expected and sensible says property leaders

“It is better that rates remain unchanged to ensure that they continue to be sustainable in our coming economic climate.” The decision by the Monetary Policy Committee of the SA Reserve Bank to keep the repo rate unchanged at the current level of 6,50% (base home loan rate of 10%) was largely expected by the market according to the Seeff Property Group. The group said that given the still sluggish economy and pressure on the CPI due to rising costs and some renewed volatility in the currency, it was expected that the MPC would take a conservative stance. Seeff...

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