Real Estate fully open under Alert Level 3 - what you need to know
Category Market News
Level 3 regulations allow both commercial and residential property practitioners to get back to work; short term rentals for Leisure purposes remain restricted; evictions still on hold, unless ruled just by a competent court; and moving to new places of residence can continue.
South Africa's Covid-19 Command Council briefing on Thursday, 28 May detailed the final Level 3 Alert Level Regulations giving most of the country's workforce, including the Real Estate industry, the green light to start operating fully.
The former Alert Level 3 restriction on residential property sales and operations no longer apply. This means an estimated 46 000 property practitioners, who have not earned an income since the lockdown came into effect, will now be able to go back to work.
Crucial to the re-opening of the industry on Monday, will be the implementation of the proper health and safety protocols, including the need for a Covid-19 officer and safety plan that can be implemented and inspected as needed, as detailed by the CCC.
With regard to real estate, Estate Agents were previously restricted to doing as much of their services remotely - by taking listings, mandates, signing Offer to Purchase agreements electronically and facilitate bond applications. The industry was also encouraged to conduct virtual viewings with pre-recorded video footage of a property, as residential property viewings and show houses were restricted.
As the industry opens up from June, government is still advising extreme caution, especially in the country's hotspots, as social distancing and the compulsory need for screening and wearing of masks continues to be crucial.
Michelle Dickens, Managing Director of TPN Credit Bureau says, "It has been a long, stressful wait but we made it! Estate agents can all now return to work - both commercial and residential. It is business as usual with the necessary safety precautions in place.
"There are no exclusions except that where you are able to work from home, you need to do so. As well as strict compliance with health protocols and social distancing measures.
Dickens highlighted the specific exclusion for the rental market, as listed in Table 2 on page 15 of the Alert Level 3 Regulations means that "short-term home sharing/ letting/leasing or rental for leisure purposes" was not allowed.
article courtesy Property24
Author: Property 24
