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Gov't Launches Register Of Property Managers

41 views · Published 11 January 2018 · 1:57 · Indexed 26 October 2026

Channel: 7Edition · 2018 · News & Politics

The Register of Property Managers which will ensure the regulation of strata property management in the country has been launched today, with the amendment of Act 242 -- Valuers, Appraisers and Estate Agents Act 1981.

With the amendment, the act is now known as the Valuers, Appraisers, Estate Agents and Property Managers Act 1981 which was passed in October last year and gazetted on January 2nd, this year.

The increasing land price and limited development space have led to many vertical developments in the city.

Due to that, the aspect of property management should also be thoroughly planned out, in order to protect the strata community.

He was speaking to reporters after witnessing the launch of the Register of Property Managers, by Urban Wellbeing, Housing and Local Government Minister, Tan Sri Noh Omar.

The presence of both ministers also signalled an unprecedented joint effort between two ministries with a shared goal in regulating the practice of strata property management.

Meanwhile, the number of complaints received by the strata community have increased every year, where some 16,394 complaints were received by the Commissioner of Buildings, last year.

The complaints comprised all aspects of management and maintenance.

Individuals with property managing experience are given a one-year grace period to register themselves as certified professionals.

Registered property managers are also exempted from the RM50,000 bond to manage one strata development.

Currently, there are over 19,000 strata developments in the country, involving 7.5 million residents.

(Soundbite Of Datuk Seri Johari Abdul Ghani / Second Finance Minister

Subtitle :

The property managers must also be regulated because the number of strata community are increasing. So, they face a lot of issues such as maintenance. Many of those in charge of maintenance were not regulated. That's why we include them in the Act, together with the valuers, estate agents and property managers.)

Gov't Launches Register Of Property Managers

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