Right now, one of the most pressing questions we have is, 'What is the long-term impact of the Covid-19 Lockdown?'
As South Africa gets to grips with the spread of the Covid-19 and the 21-day Lockdown - Property24 has launched its first podcast episode focusing on the exceptional circumstances impacting the country and economy right now due to the pandemic.
We chat to legal expert Mieke van Rensberg, Director at Norton Rose Fulbright South Africa, about what some of the ongoing contractual implications are for the property industry and best practice to avoid any long-term legal issues.
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In this episode Van Rensberg unpacks how the lockdown is impacting the commercial and residential property sectors - and what the expectations for landlords or tenants are at this time. And while pay holidays are not legally binding, there are serious ethical implications to consider too.
We also address the ongoing debate concerning the use of common property in Sectional Titles Schemes - which unfortunately sees private roads or public spaces within these units out of bounds for the remainder of the 21 days.
SEE: A list of key Covid-19 payment holidays and debt relief funds - here's how to apply
But ultimately, Van Rensberg offers sound advice on what to consider if sale agreements were put in place and are at risk of lapsing or have been delayed due to the lockdown.
Van Rensberg has over 33 years of experience and specialises in all aspects of real estate and property law based in Cape Town. Her experience includes "sectional title developments which encompass mixed use developments consisting of retail, hotels, conference centres, residential and offices".
She has extensive corporate loan skills and securitisation of commercial property finance transactions and works for "listed property Funds such as Ingenuity Investments and assists a number of property developers, including Zenprop, the Rabie Property Group, Signatura and Blok".
Whether you are new to investing, an experienced investor or an industry professional, hit the subscribe button so you can stay up to date with Property24’s Podcasts - as we look at the pulse of the issues impacting the property industry in South Africa.
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