SSLR Inc. have made a submission to government on behalf of the property industry, specifically to provide clarity on when tenants may move house dependent on the lockdown level. They expect feedback by noon on Tuesday the 28th of April.
According to the Draft Framework, commercial real estate services will be allowed to resume under level 3, and that all real estate services may resume under level 2.
Relocation is not specifically addressed. Under level 5, which is what the current regulations represent, people are to stay at home, other than essential travel for work and to purchase essential goods; this, along with the ban on interprovincial travel has prevented people from relocating. It is interesting to note that even at level 2 the corresponding provision is exactly the same; only at level 1 is there no restriction on personal movement. It seems therefore, on a plain reading of the Draft Framework, that people will only be able to relocate once their respective district is at stage 1.
The question of whether or not to re-assess rental applications ‘in process’ and/or approved prior to Lockdown has been put to me, and variations of it have been asked on various social media platforms, a few times recently, which isn’t surprising given the new paradigm of Rentals Un-usual . . .
This question does not have a simple ‘one size fits all’ answer, so I thought it would be useful for me to formulate and share my thoughts and advice on this matter . . .
“The starting point is for each person, be it landlord or tenant, to make use of every opportunity available to them to ease the pressure they experience,” says Marlon Shevelew
Read the complete response here.
For the first time in the history of the South African real estate sector, representative bodies have come together to form a unified national council, devoid of the constraints of self-interest by any particular sector of the industry, to act as the national industry representative body in all matters pertaining to the sector.
LOCKDOWN LEARNING SPECIALS FOR RENTAL AGENTS & RENTAL TEAMS: Level 5 Special Due to Expire on 30 April 2020!
Here are some AMAZING Lockdown Learning Specials for Rental Agents – these are special Level 5 discounts and due to expire as soon as we move Level 4!
Michelle announces the launch of TPN’s Live Online Monitoring and explains how you can access this FREE service to ascertain your portfolio’s risk in May.
- How risky is your portfolio for non-payment
- Learn how to access the FREE online monitoring service
- Discover the actual risk of your portfolio after lock down
- Benchmark your Portfolio Risk against the industry
- Benchmark your Good Standing against the industry
- Monitor how your debtors are paying their other credit agreements in real time
- Identify the early warning signs of non-payment of rent
Absolutely NO regulations of any kind have been implemented authorising a tenant to refrain from paying, or to withhold their obligations to pay, rent to their landlord. This is the case in respect of residential, retail, industrial and commercial properties. That being said, it must be kept in mind that each individual lease agreement must be reviewed in light of its own particular provisions, and while no overriding exemption to the payment of rental has been implemented, particular lease agreements (or existing legislation governing these) may allow for this in light of the present circumstances.
Want updates faster by Whatsapp?
I’ve created a WhatsApp Group (‘Rental Matters for Agents’) in which I will be sharing information on a regular basis. This is the quickest way to get updated on new information published. You can join the Group by clicking on this link: https://chat.whatsapp.com/K5LJL1LwPtR6EaIO2xKl2r
I have set up the Group in such a way that only I can send messages to the Group, so you won’t be bothered by any other ‘chatter’.
Following me on Facebook?
I’m also sharing as much relevant information as possible on my Facebook Page, so feel free to Like / Follow my page: https://www.facebook.com/ShaunLuyt.PropertyRentalTrainingConsulting/
Join my Mailing List
Just complete the pop-up on my page.