news

BOVAEP expects 6,000 registered property managers by year-end

KUALA LUMPUR (Nov 1): The Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP), which is currently giving a one-year window period for any person with property management experience to be registered as a property manager, expects the number of registered property managers to increase from the current 3,000 to 6,000 by year-end.

To date, there are about 3,000 registered property managers under the board including 1,414 who registered during the window period, said BOVAEP board member Kamaruzaman Jamil at a media conference today.

“Going forward, it could double up [to 6,000], or even more because more people will apply last-minute. Those who submit on Dec 31 will still be considered,” he said.

“[The new registrants] are a result of the amendment to the Act [242]. We are providing a window period [from January to end-December this year] for those who have experience and have qualifications to be accepted as registered property managers.

“After the window period, we will be more stringent and a person must have a qualified degree and go through proper training [to become a property manager], so that this profession is properly regulated,” he elaborated

With the amendment to the Valuers, Appraisers, Estate Agents and Property Managers Act 1981 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 now also regulates registered property managers in Malaysia.

Upon the launch of the registry for practising property managers, property managers who are not registered with the Board were given a one-year grace period starting Jan 2 to register themselves with the board by filling in Form C which can be obtained here.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE
RELATED POSTS
  1. FGV-appointed surveyor defends valuation report on luxury condos
  2. TA Enterprise: Group's properties have to be revalued due to delay in implementing takeover offer
  3. Proper guidelines on property management in times of crisis needed