Category From the CEO
There’s a credit amnesty coming – and it will make it even more important for property sellers and landlords to enlist the help of qualified and experienced estate agents.
The amnesty, proposed by the Department of Trade and Industry (DTI) and the National Credit Regulator (NCR), is expected to become law before the end of the year, and the most likely effect will be that credit bureaux are required to remove all adverse listings relating to debts of less than R10 000 going back to 2006 (irrespective of whether these have been settled or not), as well as all adverse information about paid up debts or judgments on a continuing basis.
"Credit grantors will not have access to any records of previous bad payment habits, defaults or judgments, so there will be no way for them to assess whether they are good or bad credit risks."
Lighthouse Property work closely with TPN to build a tenant profile help to overcome this problems.
Greg Harris CEO Lighthouse Property Group / Chas Everitt International Property Umhlanga / Morningside / Ballito Franchise
Author: Greg Harris