Picture: MP Lindiwe Sisulu, Department of Human Settlement PHOTO: DIRCO
Estate agencies will not face penalties for late audits until 31 October and fees for mandatory training are waived for this financial year.
Human Settlements Minister Lindiwe Sisulu announced these concessions as part of her Covid-19 impact relief measures during her Budget Vote address earlier this week on 21 July. She said the Estate Agency Affairs Board (EAAB) will publish further details on these matters before 31 July.
The waiving of fees for continuous professional development (CPD) training and penalties for late audits are among the relief measures that the National Property Practitioners Council (NPPC) proposed to the EAAB in May to ease some of the financial pressures on the real estate sector during the pandemic.
Read more: SA’s property sector speaks with one voice
In response the EAAB CEO Mamodupi Mohlala referred the sector’s requests to Minister Sisulu for her approval. Read more: EAAB Covid-19 Support Measures for the Real Estate Sector
Rebosa chief executive Jan le Roux welcomes the minister’s relief measures for the real estate sector. “We are grateful to the Minister for the accommodation in this regard as it will greatly assist estate agents under the current trying circumstances.”
“We also look forward to the EAAB clarifying a number of practical issues in this regard as soon as possible, ie will payments made in respect of CPD for this year be refunded, will CPD courses still be made available for agents to complete for this year or will points just be credited instead?,” he asks.
In response to Property Professional‘s request for comments Mohlala promised to respond soon.
Regulations to PPA to be published in 2020
Another priority for the NPPC has been the completion of the regulations to give effect to the new Property Practitioners Act. Minister Sisulu said on Tuesday that these regulations will be published within this year. She added that transformation across the property sector must be insured “because we are convinced that the only sustainable path is that of inclusivity, broad participation and growth in the sector”.
The Minister also announced that R600 million is allocated to provide rental relief to tenants in formal affordable rental housing.
Click to read her full Budget Vote address.