Our Service to Managing Agencies

We Help Managing Agents Comply with the PPRA

Our focus is compliance in all categories of real estate, including those of a Managing Agency firm.  All firms that manage property, must hold a MA FFC with the Property Practitioners Regulatory Authority.  This is law.

At PPs, we will:

• Mentor and guide your business to remain compliant.
• Register your entity with the PPRA under the Managing Agency category.
• Obtain MA FFCs for your directors and all staff who interact with the PPRA.
• Apply for education exemptions for all directors and staff.
• Train your staff in FIC, POPIA, and PAIA compliance.
• Apply for an exemption from holding a trust account, if applicable.
• Maintain your compliance for a full year from the date of payment.

Our cost is a no-brainer and lasts for the year!

• R7 000 per year – Full compliance setup and maintenance.
• R4 500 per year – Annual Compliance Service (for firms already registered).
  This includes maintaining your compliance, registering and deregistering staff as required, and full FIC training for your team.

Here are the categories of property practitioners in South Africa. Managing Agents are one of them:

1. Estate Agents – Selling or leasing property? This is a real estate function.  If you as a MA are also renting or selling properties, then you must hold two FFCs.  One in the Real Estate category and one in the Managing Agency category.
2. Managing Agents – Oversee property management.
3. Property Facilitators & Intermediaries – Linking buyers, sellers, and agents.
4. Business Brokers – Including franchise and business sale specialists.
5. Developers – Marketing and selling self-developed properties.
6. Timeshare & Fractional Ownership Practitioners – For holiday property ownership.
7. Auctioneers – Professionals who sell property by auction.
8. Bond & Bridging Finance Originators – Agents facilitating property finance.
9. Homeowners Associations (HOAs) – Where HOA staff perform practitioner functions.
10. Property Advertising Platforms – Portals and sites that market property.
11. Trust Fund Administrators – Collect and distribute funds under Reg. 2.4.1.
12. Attorney Employees – Practicing property law.

Do Managing Agencies Need a Principal Property Practitioner?

The answer here is a simple No.  The reason being is that the PPRA have not regulated training yet for Managing Agents.

The Directors of the MA firm take on the responsibilities of the managing agency firm and must all hold a MA FFC.  All staff discussing property with the public or accessing the Trust Account, must also hold a MA FFC.

Managing Agencies That Also Sign Lease & Sale Agreements

If your firm also handles rentals or property sales, you must hold a separate Real Estate FFC and appoint a Principal Property Practitioner for that entity.
PPs are experts in registering Real Estate firms with the PPRA and related authorities.
If you do not yet have a Principal Property Practitioner, PPs can act as your stand-in principal while mentoring one of your directors to achieve principal status.

Take the first step by booking a 15-minute appointment to discuss your needs. Call us.