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PayProp has revealed the latest technology updates to its residential rental processing platform in a June roadshow covering five major South African cities and ending in Somerset West.

The new Property Practitioners Act (PPA) and its Regulations paved the way for property practitioners using “accredited payment processing agents” to apply for exemption from operating their own trust accounts.

PayProp’s Head of Data Johette Smuts joined the Private Property Podcast recently to discuss the state of the South African residential market and share some findings from our latest State of the Rental Industry survey.

For many landlords, the idea of managing their own rental property or portfolio of properties seems relatively straight-forward. In many cases, particularly with single properties, an owner might manage just fine, provided the tenant pays on time and looks after the property.

In uncertain economic times, dealing with arrears and bad debt becomes more pressing for rental agents.

The repo rate, which directly impacts interest rates, affects many aspects of an economy, such as the exchange rate and money supply.

PayProp has partnered with Chartall Business College, an experienced online training provider, to create and deliver educational modules that will supplement the current real estate courses offered by the institution and give additional value to their learners.

No residential rental agent needs to be reminded of the unbreakable golden rule – trust funds must be kept separate from business funds, to ensure landlord and tenant funds are only ever used for the purpose they were meant for.