Property 24/10 - 497

A list of key Covid-19 payment holidays and debt relief funds - here's how to apply
South Africa has shown exceptional leadership in just under a month since the Coronavirus Covid-19 was first confirmed in our country on 5 March.

A swift State of Disaster declaration on 17 March paved the way for less bureaucracy to allow measures to ensure South Africa avoids the fate of mainland China, central Europe and the United States – said to be the new epi-centre of this global pandemic.

We’ve carved a near week into the 21-day lockdown the country is under, with daily updates from the President’s core Covid-19 task force ministers – (including the departments of Health, Police, Trade, Transport and Social Development to mention a few) – screening and testing measures have been ramped up – along with policies and acts adjusted to ensure the Coronavirus brunt is limited.

South Africa’s economy is being pummelled but a number of debt relief measures and funds are positively in the pipeline.

10 lockdown FAQs answered
South Africa has spent its first weekend in full lockdown - with certain parts of the country taking strain as a nationwide 21-day, stay-at-home drive aims to curb the spread of Coronavirus Covid-19.

Government announced a lockdown across South Africa, which began at midnight on Thursday 26 March, and will continue until midnight on Thursday, 16 April - with this week seeing many South Africans needing to collect their social grants as special measures to the lockdown are put in place.

Should you be hosting virtual show houses?
When open houses just won’t work, like in many areas of the world battling COVID-19 right now, it may come time to host a virtual open house instead.

But is this a good idea, since show houses should be cancelled until end of the COVID-19 epidemic, with South Africa’s property market restricted for the 21-day lockdown, in place until 16 April for now.

Add to that the uncertainty of things post the lockdown. The deeds office is now closed but most importantly, legally sale of property cannot be concluded with a virtual signature. Nor should any buyer ever conclude a sale without physically seeing the property they intend purchasing.

However, a few experts are in favour of using this lockdown period to do some solid investment research, whether that be through virtual show houses or through virtual reality (VR) tours – as we combat the spread of the coronavirus Covid-19.

What lockdown means for tenants and landlords
South Africa is facing a major change in daily routine as President Cyril Ramaphosa has issued a 21-day lockdown in order to stem the COVID-19 pandemic – effective at Midnight on Thursday, 26 March.

This calls into question crucial processes within the property market – specifically within the rental arena.

While property transfers are expected to be delayed, how will the lockdown affect people who were expecting to move into a new home? Similarly, landlords who have been struggling with late-paying tenants might also be wondering about the eviction process right now?

All tenants who were due to move at the end of March will now need to do so before midnight on Thursday 26 March, or they will have to remain in place at least until after the nationwide lockdown, which currently ends at midnight on Thursday, 16 April.

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