Real Estate Investor March 2021 March 2021 - Page 60


Don ’ t Wait for the Perfect Day
The perfect day to buy property when you have all the cash , all the credit , all the peace of mind , all the stability and all the confidence will never come . At some stage you have to act , because property ownership remains the most proven and resilient way to build wealth and cash flow for you , your family and generations to come . The resilience of the property market , both locally and internationally , goes a long way to show how this is a timeless investment , especially in hard times .
Action without knowledge is very dangerous though . Build local and practical knowledge about investing in property , find out what tools you need , develop a support team around you and don ’ t let fear stop you forever . Ask those people that have been waiting for the perfect time since 1999 ( or even 2007 ) whether they wish they had bought one or more properties back then .
SOURCE ThePropertyCoach
CARLO MARIANI Carlo Mariani , founder of ThePropertyCoach , is an experienced property investor , entrepreneur and educator with a track record of more than 20 years in South Africa and internationally . His passion for making people succeed in their property journey inspires everything he does at ThePropertyCoach
SA Real Estate Investor Magazine MARCH 2021 29
LEGAL Get your POPI Act Together Protect your clients personal information Annetjie Coetsee What Does Compliance Require From Businesses? In simple terms, POPI requires businesses to have a set of rules in place, which are properly monitored, that certify the protection of the personal information that the business collects. In this context, the Act refers to certain “conditions of processing”, which are the rules to be applied by a business when dealing with personal information. Two Important Aspects of These “Conditions of Processing” or Rules for a Business are: 1 The rules (“conditions”) regarding how personal information is treated in a business, apply to the whole “life cycle” of the personal information, i.e. from collection until deletion. For example, if you are a managing agent for a sectional title scheme and you collect personal information from owners for purposes of levy contributions, POPI’s conditions apply over the full “life cycle” of the personal information collected and used (ie, “processed”) by the managing agent’s business. 2 The Protection of Personal Information Act (POPIA) is a piece of legislation which puts in place measures to safeguard and secure the personal information of a business’ clients, staff and service providers. All businesses should be compliant with this act as law abiding entities in South Africa. 58 MARCH 2021 SA Real Estate Investor Magazine POPI does not mean you can no longer run your business. The emphasis in the Act is on doing everything reasonably possible, to ensure that the personal information is obtained, used and ultimately deleted in a way that safeguards the information from being accessed by others. From this it flows, as an obvious deduction, that one-size-fits-all, generic solutions are not the ideal solution. How information is obtained, stored and disseminated differs substantially from one business owner to another. It would otherwise be akin to arguing that all developers or all managing agents’ systems work exactly the same. They don’t! Is This “Life Cycle” of Personal Information as Long as a Piece of String? Yes and no because business practices differ so vastly in practice. The “life cycle” of personal information (for purposes of POPI compliance) stretches from the initial collection and recording thereof (i.e., in a computer, on a printed document or via an electronic application until its deletion). “POPI does not mean you can no longer run your business." Every step of the way, a business must have rules (“conditions of processing” is the phrase for this in the Act) how it processes the information in order to make sure that it is safeguarded against access by unauthorised third parties. The latter can be staff in your office, or staff in an office with whom you share the information. (For example, if a developer’s estate agent shares details of the parties to a sale with the developer’s reception or building contractors, instead of only with the designated conveyancing team in the developer’s office.) For purposes of POPI, “processing” refers to almost anything that can be done with the collected personal information, including using, storing, disseminating, modifying, or destroying it. Processing personal data may also include collecting email addresses via a web form, storing a list of customers’ addresses, or sending a person marketing information. SA Real Estate Investor Magazine MARCH 2021 59