Property24 27 Jul 2020
Penalties for late audits and fees for CPD training have been waived as part of relief measures for Estate Agents, with the EAAB set to publish further details by 31 July. Human Settlements Minister Lindiwe Sisulu confirmed the concessions as part of her Covid-19 impact relief measures during her Budget Vote address on 21 July.
These measures were proposed by the National Property Practitioners Council (NPPC) to the EAAB in May to ease some of the financial pressures on the real estate sector during the pandemic. The NPPC, as a new representative council was formed in April to help provide a united organisation for property practitioners for issues impacting the industry.
The EAAB is expected to clarify the relief measures, including whether "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”.
The Minister also announced that R600 million would be allocated to provide rental relief to tenants in formal affordable rental housing during the Covid-19 Pandemic.
The minister also confirmed the aim to "eradicate backlogs in registering title deeds", with priority assigned to "outstanding township proclamations required to register title deeds" as part of reforms in the Deeds Registration System.
"The funding for title deeds will henceforth form part of the Human Settlements Development Grant and so forms part of the mainstream programmes."