1. It is any person who in the normal course of business sells, lets, rents, markets, auctions, or manages a property, on behalf of someone else for remuneration.
2. It can be either a natural person (e.g., Sole proprietor) or juristic person e.g., Pty, cc, trust).
1. Estate agents
2. Auctioneers
3. Bond and bridging finance originators
4. HOAs who perform property practitioner activities
5. Managing agents
6. Property facilitators and intermediaries
7. Business brokers, including sales of franchises and business undertakings
8. Developers who preform property practitioners’ activities, including project managers, development managers, investment sales agents
9. Time share and fractional ownership practitioners
10. Property advertising platforms
11. Property practitioners who specialise in collecting and distributing trust monies in terms of Regulation 2.4.1. (Payment processing agents)
12. Attorney employees.
1. If a Managing Agent conducts ANY of the following activities:
2. The owner (business practitioner) and his staff members who perform such activities must hold an FFC.
3. Such activities include – management of a community scheme; management of any other property held by a third party or a client.
4. It should be noted that property is defined in the PPA Section 1: Immovable property, and any interest, right or duty associated with it as contemplated in section 2 of the PPA.
5. PPA Section 2: Refers to rights, obligations, interest, duties, or powers associated with or relevant to such property.
1. Yes, according to Regulation 26.2 states that a PP will hold a separate FFC in respect of each different industry.
1. Registration of firm by approved name reservation (reserving name on portal- approved or rejected / repeat)
2. Once approved, upload documents on portal including
3. Application form for firm / entity.
4. Bank letter dated, signed, and stamped stating section 54(1) PP Act 22/2019 trust account opened in the name of the firm OR audit approved exemption using affidavit under provisions of Reg.2.
5. Auditor’s letter (IRBA) stating practice number, who will act on behalf of firm.
6. Proof of FICA registration.
7. BEE certificate if PTY /trust / CC.
8. Tax clearance if PTY, trust, CC, partnership or sole proprietorship.
9. All entity CIPC documents showing registration of entity and directors / members.
10. No payment required by act and regulations.
11. (Must be accompanied by the principal registration application as specified below).
1. Stamped, signed bank letter with date of closure of trust account/s.
2. Winding up audit report of trust account/s.
3. Submission of any outstanding audit reports.
4. Payment of any penalties due.
5. Signed and dated request from principal for deregistration.
1. The business owner registers as a Business Managing Agent. This means he is responsible for the compliance of the entity and its staff.
2. The rest staff register as Managing Agent irrespective of their qualification and titles, but ONLY if they preform property practitioner activities for the Managing Agent Firm.
1. Candidate and non- principal agent: Signed and dated letter from principal or agent requesting individual deregistration.
1. 3 years and renewal by the 31 October each year.
1. Application form.
2. Certified dated copy of Passport, however the passport must be valid for at least 6 months from date of application.
3. Valid work permit, however, the work permit must not expire within 6 months of date of application or a permanent residence permit which also allows you to work.
4. Payment of R2074 for new entrants as well as R 400 for the fidelity fund.
5. Remember the R 400 is only for new property practitioners who want to register.
1.All applications form and format letters can be downloaded on the PPRA website. https://theppra.org.za/licensing-and-registrations/
1. Non-Estate Agents and non-Attorney Practitioners may apply using Form E1, found on page 79 of the PPA Regulations.
2. Alternatively download the E1 form from the PRPA website.
1. All property practitioners including Managing Agents must do CPD provided by the PPRA for their own specific industry. Currently the PPRA does not provide CPD for Managing Agents and once it commences it will be communicated to the industry.
1. Only if the preform activities as mentioned previously.
1. Employees of a Managing Agent firm who DO NOT perform property practitioners’ activities as designated in the Act and Regulations such as the receptionist, cleaners, tea ladies, drivers, maintenance staff and bookkeepers and accountants.
1. This is against the Law!
2. Section 48(1): No person or entity MAY NOT ACT as a property practitioner UNLESS they have been issued with a FFC ito of Section 47 and if they employ any other person as a property practitioner that person has also been issued with an FFC.
3. Section 56: No remuneration is payable to a Managing Agent unless they hold an FFC at time the service was rendered.
4. Trading without an FFC is punishable by a fine of R 25 000.00.
5. Failure to renew an FFC on time you will be penalised by a penalty of R 450 per month.