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BACKGROUND INFORMATION ON PROPERTY SURVEYING DIVISION

INTRODUCTION

Property ownership, development, investment and management require in-depth market intelligence and sound advice. Members of the Property Surveying Division are qualified professionals trained to provide specialist services in real estate to clients who include corporations, institutions, statutory bodies, owners, investors, landlords and tenants. They work as Valuers, Property Managers, Real Estate Agents and Property Consultants.

Thus discipline is concerned with land use control and economics aspects of land management on behalf of a wide variety of owners; land reform and land settlement which may be undertaken to achieve the best use of land and the best location for human settlement, land valuation fro a wide variety of private transactions or public actions affecting land; compulsory land acquisitions; land development in which the surveyor’s knowledge of the land market is of paramount importance.

SERVICES

The range of services that the PS members provide include:

Property Valuation – is the professional service of providing an opinion of value of an interest in real estate or plant and machinery and equipment at a particular point of time. Valuations are required for various purposes including:

• Asset Valuations
• Statutory Valuations
• Others – Sale or Purchase, Loan Security, mortgages and debentures, Foreclosure, Court reference or Litigation, Arbitration, Rent determination or review, Fire Insurance

The range of expertise may include valuation and appraisal of private hospitals, hotels, resorts, plantations and specialized properties such as mining land and quarries as well as plant and machinery and equipments.

Estate Agency – The scopes of work covers all sectors of the real estate for owners, investors or occupiers and includes the following services:

• Letting/Leasing
• Sale/Purchase
• Investment Consultancy
• Marketing

Property Management – involves the management of properties on behalf of owners or Management Corporations involving individual, collective or portfolios of properties towards the achievement of ensuring optimum returns on property investment and ownership. The achievement o the goals include the following activities:

• Management of building and equipments through effective and efficient maintenance programmes
• Ensuring the highest possible level of occupancy at maximum rents to ensure optimum profitability
• Control of outgoings and expenses with priority given to value added services while maintaining standards and quality of management
• Auditing and reviewing of operations cost
• Management of rental income and accounts

Market Research/Feasibility Studies – involves the provision of sound advice for interpreting the mechanics of property markets and identifying development and land use opportunities. PS members help their clients to make wise decision in the property market towards the achievement of optimizing their investment returns. The ranges of services include:

• Property Information Service – collection of date, collation, reporting and analysis of property data so as to enable the intelligent assessment of market
• Market Research Analysis – includes demand and supply studies, market surveys, high and best use studies
• Feasibility Studies – includes risk, financial and investment analysis

Consultancy – PS members may be consulted in various other services pertaining to property and real estate which include development and funding options, project marketing, investment decisions on acquisition and disposal, development management and project management.

FEES

The fees for work undertaken by a member of the PS Division are governed under the Schedule 7 of the Rules of Valuers, Appraisers and Estate Agents Act 2004.

For further information on the profession and fees, please visit : http://www.lppeh.gov.my