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The above subject matter has reference: 1. Please note that the Namibia Estate Agents Board (hereinafter referred to as NEAB) closed down 4 U Properties based on numerous complaints received by members of the public. The closure was also necessitated in order to stop 4 U Properties and its Principal Estate Agent, Mr. Ryno Du Plessis, from receiving money from the public on existing lease agreements and from paying out any money on behalf of 4 U Properties. 2. Mr. Ryno Du Plessis of 4 U Properties has been instructed to deregister 4 U Properties in terms of section 32(7), which inter alia entails that he submits a letter from his bank confirming the closure of business and trust accounts of 4 U Properties. 3. We have received credible information that Mr. Ryno Du Plessis is working with Mr. Chris Thiart of Thiart Properties Investments cc, and that all clients of 4 U Properties (landlords and tenants) have been unknowingly and without their express knowledge and (or) consent been handed to Thiart Properties Investments cc as their managing agents. 4. It is with the above in mind that we write this missive to you to inform you the following: - 4 U Properties is no longer in existence, therefore Landlords are requested to terminate their mandates with 4 U Properties, and find another estate agency to manage their affairs, and communicate such to their tenants. - All tenants are requested to cease all communication and payments to 4 U Properties, such communication and payments should be made directly to the Landlords, - All Landlords are hereby informed that they are free to choose any estate agency, and not necessarily with Mr. Chris Thiart of Thiart Properties Investments cc to manage their affairs. - The NEAB is in the process of approaching the High Court to prohibit 4 U Properties to operate in any way their trust, savings, or other interest-bearing account. - The NEAB will communicate the closure of 4 U Properties through local daily newspapers and other forms of media to inform the members of the public accordingly. I trust that you will find the above in order. For any information and (or) clarity, please do not hesitate to contact the writer hereof. Please view the official letter by clicking on this link: https://www.neab.co.na/registrations/bbebf6f4-96ad-470f-9f9f-1101990c5ffe Festus Unengu Manager: Namibia Estate Agents Board

Published in Namib Times on 31 March 2023

The Namibia Estate Agents Board's (NEAB) Disciplinary Committee will have Disciplinary Hearings on the below-mentioned dates, for all complaints lodged against Estate Agents. Anyone who has filed a complaint against an Estate Agent, can call the NEAB office after the below mentioned dates to find out the outcome of the hearings. Disciplinary Hearing Dates Thursday, 24th November 2022, Windhoek Monday, 12th December 2022, Swakopmund

Dear Property Practitioners The Namibia Estate Agents Board (NEAB) will embark on an interactive workshop as part of the planned activities of our Annual Business Plan for 2022. The main objective is to educate and inform/train Estate Agents and other categories of Property Practitioners as defined in the Property Practitioners Bill. We hereby wish to extend this invitation to each one of you to join us at the aforementioned full-day event (workshop) as part of the mandate of NEAB namely, Education and Improving the standard of training of Estate Agents. You are thus cordially invited to attend the full-day workshop. You can register to attend the workshop in Swakopmund or Windhoek. AGENDA: Morning Session (Property Practitioners Bill) AND Afternoon Session (Internship Programme and The Compulsory Continuous Development Programme to be implemented by NEAB) 01. SWAKOPMUND - Details: Date: 21 November 2022 Time: 08:00 AM - 17:00 PM Town: Swakopmund Venue: Plaza Hotel Costs: FREE 02. WINDHOEK - Details: Date: 25 November 2022 Time: 08:00 AM - 17:00 PM Town: Windhoek Venue: Palm Hotel Costs: FREE RSVP: 0811 221 828 or admin1@neab.co.na OR RSVP Online via: https://forms.gle/DMALt6ptFTwrSCw58 Please RSVP by Friday 18th November 2022!!

Namibia Estate Agents Board (NEAB) hosted its fourth Induction Training Workshop for the year on Friday, 14th October 2022. The Induction Training workshop is hosted after every Online State Agents examination for all the candidates that passed the examination. The main objective of the Induction Training Workshop is to prepare the candidates for the real estate industry and provide them with the necessary information to hit the ground running. The Keynote speaker at the induction workshop was Ms. Diina Nashidengo, Director of Commerce: Ministry of Industrialization and Trade. Further presentations were held by the Financial Intelligence Centre (FIC), City of Windhoek (COW), Public Accountants and Auditors Board (PAAB) and Namibia Training Authority (NTA).

Notice to all stakeholders and the public in general Prohibition of rendering services as an estate agent The primary mandate of the Namibia Estate Agents Board (NEAB) in terms of the Estate Agents Act 112 of 1976 as amended is to: (a) Maintain and promote the integrity of estate agents having due regard to the public interest; (b) Issue a Fidelity Fund Certificate to qualifying applicants; (c) Prescribe the standard of training of estate agents; and (d) Investigate complaints and institute disciplinary proceedings against registered estate agents on alleged misconduct in terms of the Act. Section 26 of the Estate Agents Act 112 of 1976 inter alia provides that NO person shall perform any act as an estate agent unless:- (a) a valid Fidelity Fund Certificate has been issued to him, and to every person employed as an estate agent by him; and, if such person a person is a company, to every director of such company; and if such person is close corporation, to every member of such close corporation. If there is any doubt as to whether or not an estate agent is registered with the Board or has been issued with a valid Fidelity Fund Certificate, stakeholders or the public should not hesitate to contact the Namibia Estate Agents Board at 061-249885 or supervisor@neab.co.na to verify the registration status of the estate agent. All stakeholders and members of the public dealing with estate agents should require from the estate agent to present their valid Fidelity Fund Certificate for the particular year as issued by the NEAB before any such person is engaged. Registered Estate Agents are also issued with ID Cards for that particular year. Failure by the estate agent to furnish the requisite proof of registration shall disqualify those estate agents from rendering any estate agency services and earning any commission/remuneration on the relevant transaction.

Namibia Estate Agents Board (NEAB) hosted its third Induction Training Workshop for the year on Thursday, 04th August 2022. The Induction Training workshop is hosted after every Online State Agents examination for all the candidates that passed the examination. The main objective of the Induction Training Workshop is to prepare the candidates for the real estate industry and provide them with the necessary information to hit the ground running. The Keynote speaker at the induction workshop was Ms. Diina Nashidengo, Director of Commerce: Ministry of Industrialization and Trade. Further presentations were held by the Financial Intelligence Centre (FIC), City of Windhoek (COW), and Public Accountants and Auditors Board (PAAB).

What is the Property Practitioner Bill? It is a new piece of legislation that will replace the Estate Agency Act 112 of 1976. Its main purpose is to establish the Property Practitioner Regulatory Authority, which will replace the Namibia Estate Agents Board; to regulate the affairs of all property practitioners; to allow for transformation in the property sector, and to provide for consumer protection. The Act will commence on a date yet to be decided upon. Regulations must still be published. The minister must first make rules training requirements property practitioners, who will now be joining the fray, need to undergo, and the minister must also publish a code of conduct. So much work still lies ahead before the Act can commence. Newspaper Article Link: https://neweralive.na/posts/opinion-analysing-the-property-practitioners-bill

NEAB is looking for people who want to be accredited to offer training to candidates who wish to write the NEAB estate agent examination. The criteria for the trainers are as follows: The trainer(s) must have 10 years of experience in the estate agency industry. The trainer(s) must have a relevant Bachelor’s degree which is pegged at NQF Level 7. The trainer(s) must present the NEAB with their curriculum vitae. The trainer(s) must also be in good standing with the NEAB. Application Process Email above mentioned documents to: recruitment@neab.co.na All applications must be sent via email and must include an Application Letter. Closing Date The closing date for applications is Friday, 29th July 2022 @ 17H00 Enquiries: Telephone Number: 061 – 249 885 Email: reception@neab.co.na / supervisor@neab.co.na Prepared by Mr. Festus Unengu Manager: Namibia Estate Agents Board

Section 29 and Section 32 of the Estate Agents Act make references to the duty of estate agents to keep financial records (including records for a trust account), and that these financial records must be audited by an auditor. The Act defines an auditor as such: “auditor” means any person registered in terms of section 23 of the Public Accountants’ and Auditors’ Act, 1951 (Act 51 of 1951 as amended), as an accountant and auditor, and engaged in public practice as such. Audited financial statements are part of the requirements for being issued with the annual licence to practice as an Estate Agent by the Namibia Estate Agents Board Preparation for the Audit Estate Agent keeps financial records (with the help of a bookkeeper/accountant if necessary) An accountant prepares financial statements from financial records. Auditor audits financial statements and expresses an opinion on the reliability/accuracy of the financial statements, which speaks to the health of the business and the financial stewardship of the estate agent. Note: Accountants and auditors cannot be the same person; while auditors CAN do the work of accountants, they are not allowed to audit the same financial statements they prepared. List of Auditing Firms Please Click Here for a list of all registered auditors that we recommend Estate Agents use.

The Property Practitioners Bill is a new piece of legislation that will replace the Estate Agency Act 112 of 1976. Its main purpose is to establish the Property Practitioner Regulatory Authority, which will replace the Namibia Estate Agents Board; to regulate the affairs of all property practitioners; to allow for transformation in the property sector, and to provide for consumer protection. The Act will commence on a date yet to be decided upon. Regulations must still be published. The Minister must first make rules on what training requirements all the property practitioners who will now be joining the fray, need to undergo and the Minister must also publish a code of conduct. So much work still lies ahead before the Act can commence. Click Here to Read More on the Property Practitioners Bill

Please note that ALL lease agreements entered in Namibia MUST be stamped in terms of the Stamp Duty Act of 1993. This means that revenue stamps MUST be affixed to lease agreements. The amount of the stamp duty depends on the amount of rent payable over the period of the lease as stated in the Schedule 1 of the Stamp Duty Act. The duty MUST be denoted on the original lease agreement. Stamp duty must also be paid on a copy of the original contract, subject to a prescribed limit. Click Here to Read More...........