Stakeholders must stay informed and seek professional advice to ensure compliance and make well-informed decisions
The SA property market has recently experienced significant changes in property laws, aiming to address various concerns and challenges within the real estate sector.
This not only addresses the pressing need for adequate housing but also contributes to the overall socioeconomic development of the country, while attempting to rectify historical injustices. The history of spatial planning to reinforce segregation can be seen in the lack of space in townships, which hampers proposed developments.
This bill will have a bigger effect on how complex managers, body corporates and homeowner associations interact with sectional titles. It will also allow lessees of sectional title schemes to put questions to developers. The Housing Consumer Protection Bill seeks to provide added protection to buyers of homes and new properties by ensuring they are covered in terms of having registered homebuilders and a home warranty fund.
The amendment bill resolves a lot of the grey areas in previous legislation, proposing stricter compliance requirements, mandatory continuous professional development and the establishment of a property practitioners’ ombud service to handle consumer complaints. These measures aim to strengthen consumer protection and elevate industry standards.
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