In view of complaints from building management practitioners that the Strata Management Bill of 2012 would allow valuers to monopolise the industry, the Housing and Local Government Ministry has proposed new amendments to ensure that valuers will not get exclusive right to manage properties.
"After listening to all MPs, it became clear that not amending the Bill would create a monopolistic situation whereby only licensed valuers can be property managers," said Housing and Local Government Minister Datuk Seri Chor Chee Heung.
"This would not be good for cheaper housing as they do not require a trained valuer to manage their property but can work with a building manager."
Under the new amendment, the term ‘registered property manager' will be replaced with a newly defined ‘property manager' so that non-registered property managers can still manage stratified buildings.
Chor noted that being a trained valuer doesn't necessarily mean that a person is already a good property manager.
"However, I do acknowledge the need for a regulatory body to ensure proper standards in the industry and am given to understand that a regulatory body is soon to be set up under which all building managers can be registered and be held accountable to."
However, some industry practitioners want the term ‘registered property manager' to remain.
"During the drafting of the Bill, we all agreed on the term ‘registered property manager' to ensure regulation in the industry and that the people are truly cared for," said Ishak Ismail, President of Malaysian Institute of Professional Property Managers.
"This last minute proposal to change the definition, which was never agreed to by the Drafting Committee of the Bill, will open wide the Pandora's box for the proliferation of unscrupulous illegal property managers," he added. The new definition of ‘property manager' will also create a direct conflict with the existing provisions under the Valuers, Appraisers and Estate Agents Act of 1981.
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