As of 01 November 2024, the Property Practitioners Regulatory Authority (PPRA) has implemented administrative fees on all of its services. This change is part of the PPRA’s ongoing efforts to enhance its service delivery while maintaining the integrity of the property sector in South Africa.
Why the change?
The introduction of admin fees is designed to support the PPRA’s operations, ensuring that they can continue to provide effective regulation and oversight in the property industry. As the regulatory body responsible for overseeing property practitioners, the PPRA plays a critical role in setting standards, enforcing compliance, and protecting consumers. These fees will help the authority maintain and expand its services, ultimately benefiting both property practitioners and the general public.
What services are affected?
The new admin fees will apply to a wide range of services offered by the PPRA, including, but not limited to:
- FFC Change of Employment;
- Amendment of details for an individual / agency;
- Status Upgrades;
- Trust Account Exemptions.
These fees will be applicable to both individual property practitioners and entities operating within the industry.
Impact on Property Practitioners
For property practitioners, the implementation of these administrative fees will require a slight adjustment in their budgeting and financial planning. It is important to factor in these additional costs when considering the overall expenses related to maintaining a professional practice. While the fees may seem like an added expense, they are essential for ensuring that the PPRA can continue to provide the necessary regulatory services that support professionalism and consumer protection in the industry.
Stay tuned for further updates as the PPRA works to create a stronger and more professional property market in South Africa.
