Property managers registry gives sector recognition

PETALING JAYA (Jan 12): The newly set-up property managers registry by the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP) offers the industry a “light at the end of the tunnel” as they will now be recognised and regulated by a government body, said SCM Property Services Sdn Bhd property and facilities management general Paul Richard.

“It’s a great move — something that we have fought for quite some time. Now, there are proper guidelines to improve the property management standards.

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“Prior to this, property managers have to go under registered valuers but now [that the sector] are liberalised, we (property managers) should be recognised.

“This is also great news to property owners as now they can entrust their confidence to their registered property managers,” said Paul, who has been a property manager for 26 years.

SCM manages Solaris Dutamas in Kuala Lumpur, a 17-acre mixed-use development comprising retail outlets, retail and office suites, and designer suites.

The development had won a Gold award in the strata mixed category of EdgeProp.my Malaysia’s Best Managed Property Awards 2017.

Meanwhile, Gamuda Land chief operating officer Ngan Chee Meng said this is a welcome announcement as the industry should be regulated for good governance, to ensure that professionalism and good property management standards are maintained.

“Proper maintenance is an aspect of sustainability and ensuring good quality of life for our community. Furthermore, a well-maintained development is more sought after in the market and will yield better rental rate or subsale price for homeowners,” he said.

The Gold winner of EdgeProp.my Malaysia’s Best Managed Property Awards 2017 for the non-strata residential category, Valencia Sungai Buloh, is currently managed by Gamuda Land Property Services Sdn Bhd, a subsidiary of developer Gamuda Land, the property arm of Gamuda Bhd.

At the launch of the board registry yesterday, BOVAEP president Nordin Daharom said the board will provide training courses to registered property managers to ensure they have sufficient knowledge in related laws and regulations as well as standard practices.

“Through our training, property managers will be introduced to systematic record and financial managements so that they can present their financial records when required by the joint management body as well as ways to handle evictions and other cases related to property management.

“Property managers will also be introduced to the latest edition of the Malaysian Property Management Standards that could help them have good property management practices,” he said.

Property managers are given a one-year grace period from yesterday (Jan 11) to register themselves with the board as recognised professionals by filling in Form C, which can be obtained from http://lppeh.gov.my/WP2016/forms.

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.