What impact will the proposed Property Practitioners Act have on the retirement property sector? 7 October – Plenary Stream
Are you aware of the following?
In terms of the new Property Practitioner’s Act, any person that facilitates the sale or letting of retirement units on behalf of a retirement organisation/village (whether sectional title, life rights, share block or freehold) needs to be in possession of a Fidelity Fund Certificate and thus be a registered Property Practitioner This includes developers of new retirement villages and managing agents
What the audience can learn
Property Practitioners Act Update
Mark is a retirement village specialist estate agent with over 20 years of experience. He will be sharing insights on the Act that is expected to come into law this year.
The Property Practitioners Act
What is it?
Why is it here?
How does it impact retirement villages and old age homes?
Are there exemptions to the Act?
In-House Sales Model
What is it?
Specific to the retirement sector
Different options/variations available –
employee as in-house agent
resident as in-house agent
centralised model, etc.
Affordable way forward with little upheaval to your current systems and procedures.