The South African Property Owners Association (Sapoa) says that while it supports the aims of the Property Practitioners Draft Bill, published for comment on March 31, the current version of the draft Bill does not take any of Sapoa’s previous recommendations into account.
The Bill, which will replace the Estate Agency Affairs Act of 1976, will ensure the continuation of the Estate Agency Affairs Board (EAAB) as the Property Practitioners Regulatory Authority, provide for the continuation of the Estate Agents Fidelity Fund as the Property Practitioners Fidelity Fund and provide for consumer protection and related matters.
Sapoa CEO Neil Gopal noted that the organisation had conducted several engagements over the last five years with the EAAB to find common ground on matters impacting on the commercial property industry.
“As a member-driven organisation, Sapoa has dedicated a great deal of time, effort and resources in assisting the EAAB with redrafting and providing comments to all previous versions of the Bill. This was done at the request of the EAAB.
“It is unfortunate and regrettable that none of the recommendations made by Sapoa, even though accepted by the EAAB on the basis that the principles proposed were sound and rational, have been taken into consideration in the current version of the Bill,” he said.