Sectional Title requires swift action to recover arrear levies
South Africa - PropertyWheel
South African Sectional Title schemes and Homeowners’ Associations could possibly face financial trouble if homeowners do not start making up the levy payments that were deferred during the national lockdown.
Andrew Schaefer, MD of property management company Trafalgar, says that Sectional Title trustees and Homeowners’ Association will need to know how to collect arrear levies most efficiently and cost effectively.
“With many people being unable to work during the lockdown and others losing their jobs, trustees and directors were inundated with requests for levy reductions or deferments” he says. “And since this requires a new budget approved at a general meeting to reduce levies, most of these requests resulted in levy payments being deferred for three months, provided that the owner was up to date with their levy payments at the time an that they agreed to repay the deferred amounts by the end of the financial year.”
PayProp Rental Index
South Africa - PayProp
A new normal - not defeated
While the property sector may be suffering from the effects of lockdown, it certainly has not been defeated by it. It is encouraging to see the industry bounce back and adapt in difficult times. To combine two famous sayings by Heraclitus and Charles Darwin, change is the only constant in life, and those who adapt best to it will survive.
The current data is the first clear indication of the effects of lockdown on rent levels, rental growth and arrears, and we analyse these metrics in detail in this issue. We also examine rent and arrears on a provincial level, uncovering vast underlying differences, as anticipated.
Over the next few quarters we expect to see the continued effects of lockdown across different metrics, and will be tracking it all to keep you informed about the state of the rental market.
Conveyancing firms urged to embrace “Smarter Working”
UK - Today's Conveyancer
Management consultancy Journey4, has released guidance on how businesses can implement ‘Smarter Working’, following lessons learned by businesses in the wake of coronavirus. Director, Stuart Pearce, outlines some key research findings and what this could mean for conveyancers.
There is no doubt that the pandemic and lockdown restrictions caused companies and staff to work under very different conditions since lockdown was implemented in March. Staff have had to evolve different working techniques, often juggling family that were equally hit by the restrictions.
Companies have had to change their business models to accommodate not only their staff working remotely but also implementing new methods to communicate and interact with clients, which would normally have taken place face to face.
How to break up with a client
South Africa - Tech4Law
If you read our previous article on finding the “Right Client”, you will know that not every client is the right fit for your law firm. And if that is case with one of your clients, it may be time to send out the dreaded “Dear John” letter. And breaking up with a client is also like breaking up a romance. It needs to be handled with kid gloves, with the least amount of damage done to the person receiving the “break up” news.
But let’s be honest, if you have reached the point where you feel that the relationship is not going anywhere (or not going anywhere good for your law firm) with your goals not aligning to those of your clients, it is a sure red flag that it is time to move on. Inevitably, you will have a tugging feeling of obligation to do what is your right for your client but also to do what is right for your firm. And that can make you feel trapped. But it is important, especially at this stage, to keep in mind your client strategies – remembering the type of client you want to work with, doing the type of work you want to do. And living your best life. If the client causing you stress or concern is not meeting the criteria as set out in your evaluation method, (such as the “Quadrant” provided by Hadar Incorporated), it is high time that you sit down and attend to your ‘Dear John” letter.