BREAKING NEWS:
New Board for property industry announced
Cabinet on Wednesday approved and Minister Mmamoloko Tryphosa Kubayi-Ngubane, Minister of Human Settlements, announced the new Board of the Property Practitioners Regulatory Authority “PPRA”, which is to replace the Estate Agency Affairs Board (EAAB) as soon as the PPRA Regulations are finalised.
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The new PP Act which came into effect in February this year paved the way for a new dispensation in the industry, but indications are that the legacy left by an inept EAAB is a major cause for concern.
For many landlords, the idea of managing their own rental property or portfolio of properties seems relatively straight-forward.
Real estate agencies have until the end of October 2022 to obtain a B-BBEE certificate to be eligible for their Fidelity Fund Certificates.
The residential rental sector started to show real signs of renewal in the fourth quarter of 2021 with key national property indicators revealing that the sector is through the worst of the economic storm.
The real estate industry has rallied to support the victims of the recent KZN floods that devasted large parts of the province.
The recent disastrous floods in KwaZulu-Natal have left a trail of death and destruction. Some 4 000 homes have been destroyed and more than 8 000 damaged.
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