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Property News

Associations laud move to require strata residence managers to be registered with BOVAEP

KUALA LUMPUR (Sept 21): Three associations representing property managers and consultants, estate agents, and valuers have come out to support the government’s move to refine the Strata Management Act 2013 as part of its 12th Malaysia Plan Mid-Term Review revealed this month.
In particular, the proposed amendment on the Act includes a requirement for strata residences to be managed by a probationary property manager registered under the Board of Valuers, Appraisers and Estate Agents and Property Managers (BOVAEP).
This is part of efforts to further strengthen the function of Joint Management Body (JMB) and Management Corporation (MC), according to the Mid-Term Review report.
To clarify, the 2013 Act currently allows the appointment of any persons (registered or non-registered) to manage the common property on behalf of JMB and MC.
This provision will be amended to include the requirement that only a registered property manager can be appointed by the developer, JMB, or MC should they decide to hire the third independent party.
“This proposal is a vital step toward addressing the challenges facing strata housing in our country,” said the association in a joint statement — Malaysian Institute of Property and Facility Managers (MIPFM), the Malaysian Institute of Professional Estate Agents and Consultants (MIPEAC) and the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS).
“By supporting these initiatives, we can create better living conditions, enhance property values and foster vibrant communities for generations to come,” the statement said.
The announcement further signals that the government is ready to enhance governance by improving and streamlining strata property regulations, it added.
According to the Mid-Term Review report, the efforts underlined by the government to improve strata housing management are aimed to improve the standards of building maintenance and management, as well as encourage good governance.
In addition, training programmes on good governance and mediation to manage conflicts will be conducted for committee members of JMBs and MCs to ensure accountable and efficient management of strata residences.
The Strata Management Act 2013 (Act 757) was brought into force in 2015 with the primary aim of streamlining the law governing the management and maintenance of stratified properties.
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Source: EdgeProp.my

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