PETALING JAYA (Jan 12): There are significant overlaps in jurisdictions between the Ministry of Urban Wellbeing, Housing and Local Government (KPKT) and the Ministry of Finance (MoF) over the regulation of property management that need to be resolved, said industry associations.
The Building Managers Association of Malaysia (BMAM) said now that the Registry of Property Managers has been officially launched, it remains to be seen as to how the various provisions of the Valuers, Appraisers, Estate Agents and Property Managers Act 1981 and the Strata Management Act 2013 (SMA) and the Strata Management (Maintenance and Management) Regulations 2015 (SMR) pertaining to building maintenance and management are going to be coordinated, and how issues would be resolved in the future, as the SMA and SMR fall under the jurisdiction of the KPKT while Act 242 falls under the purview of the MoF.
* BOVAEP should work with KPKT, COB to protect JMBs, MCs
* Property managers registry gives sector recognition
* Clarity needed on property manager regulations, says lawyer
* Property managers will now be regulated under BOVAEP
An industry player who does not wish to be named also shared BMAM’s views, adding that it may be better if the functions of a property manager are regulated under the KPKT as all laws, by-laws, regulations, permits and licences are issued by the ministry.
“Even the Fire and Rescue Department of Malaysia (Bomba) and Uniform-Building-by Law are under the local government. The SMA is also under the purview of the same. The other question that should be asked is why are the property managers licensed under the Ministry of Finance (MOF) vis-a-vis the BOVAEP [Board of Valuers, Appraisers, Estate Agents and Property Managers] when all the governing rules are seated in [the housing ministry]? Does it mean the same can also be licensed in the Ministry of Health? Will the role of the Commissioner of Building Department [which currently reports to the Ministry of Housing] then now come under the MoF?” he asked.
Meanwhile, the Malaysian Institute of Professional Property Managers (MIPPM) president Sarkunan Subramaniam has urged unregistered property managers to seize the opportunity to register themselves under BOVAEP within the one-year grace period.
“Those who are not registered better register themselves to the board and be regulated under Act 242. Otherwise, once the act is enforced after the grace period, if they want to register, they will have to be subject to new qualifications and experience requirements,” he told EdgeProp.my today.
With the amendment to the Act that was passed on Oct 17, 2017 and gazetted on Jan 2, 2018, property managers are now required to register themselves with BOVAEP.
Previously known as the Board of Valuers, Appraisers, Estate Agents Malaysia (BOVAEA), BOVAEP will now regulate registered property managers for strata properties in Malaysia.
He added that as the MoF and KPKT are working together to uplift the property management standards in the country, joint management bodies (JMBs) and management committees (MCs) will tend to appoint registered property managers who are trustworthy and able to offer quality services.
According to Sarkunan, the number of illegal or unregistered property manager in the country could reach up to 10,000, higher than BOVAEP’s estimate of 5,000.
In view of the huge amount of illegal or unregistered property managers, he urged BOVAEP to ensure that they have sufficient resources, manpower and system to cope with the registration process going forward.
“I hope BOVAEP to have more private sector on the board, which are currently dominated by the valuers from the government sector,” he said.
MIPPM and BMAM are supporting EdgeProp.my Malaysia’s Best Managed Property Award 2018.
Editor's note: EdgeProp Malaysia’s Best Managed Property Awards 2018 is open to all strata and non-strata buildings managed in-house or by any property or building manager and is currently accepting entries. The awards categories include Residential, Office, Mixed Development, Specialised and Retail. This year, two new categories have been introduced — EdgeProp Malaysia's Responsible Developer: Building Sustainable Development and EdgeProp-ILAM Malaysia's Sustainable Landscape Award. The deadline for entries is 5pm on Jan 22. Click here to find out more.