Property Surveying Division of Royal Institution of Surveyors Malaysia (RISM), take an initiative to educate the public about the important of choosing the Registered Property Managers.
Strata living will be the future lifestyle of Malaysians as land cost will increase and land is scarce nowadays, leading to more vertical developments. Hence, holistic control and regulation are needed not just in the development aspect but also for property management.
Poor maintenance of the lifts, faulty old rooftop storage tanks, depleted sinking funds, security problems and many others.
Those are common cases which also include breach of trust when property managers disappear with JMB/MC collection fees, as well as incompetence in managing the property, resulting in home- or strata-owners refusing to pay service charges, which further hampers the property managers’ ability to provide good service.
Its timely indeed the need for property managers to register, it ensures the public is served by practitioners with the necessary skills in the field, such as building construction, property maintenance, property and strata law, and property finance, among others.
With the launch of the Register of Property Managers, it brings the practice of property management under the ambit of the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP), which falls under the Ministry of Finance’s purview. The penalties that will be faced by unregistered property managers include admonishment, suspension and fines from RM10,000.