As a Licensed Property Management company providing property management services to property owners and management bodies such as JMB or Joint Management Body and MC or Management Corporation in Petaling Jaya, Selangor, Kuala Lumpur, Penang and Johor, we have came across many challenges faced by our strata community.
Property Management means the management and control of any land, building and any interest therein. Property Management is also known as Pengurusan Strata in Malay (Bahasa Malaysia).
How Property Management firm provide value to your strata property?
We have clients in many different backgrounds and situations who always ponder about this question. All property owners want to add value to their properties.
Property manager offers strata property management service to property developers, JMB and MC for strata development schemes ranging from condominium, serviced apartments, apartments, offices, retail lots and even gated & guarded community like Resident’s Associations (RA).
A good compliance and comprehensive strata management, building management, administrative management and account management are the important aspect that will add value to the strata property in the long term.
What are the compliance for Property Management?
As all strata developments are under governed under the Strata Title Act and Strata Management Act 2013, thus, it is imperative that the person that oversees the management understand and well trained to comply with the laws and regulations. Any in-compliance can lead to legal liability and disputes.
Compliance and comprehensive strata management, building management, administrative management and account management are as follows:
Account & Financial Management
- Monthly receipt & payment
- Monthly fees collection
- Monthly account summary
Better financial management leads to a more effective management of income or collection of charges and sinking funds. Property manager need to be well verse in ensuring collection are done according to the law and what to do in the case of default which eventually may lead to legal claims or Strata Tribunal proceeding. An up to mark collection in any strata development scheme will then allows the management body to carry out their duty to maintain, repair and upgrade their properties.
Building Management
- Facility checking
- Defects repair
- Maintenance & improvement
All properties need continuous care which need financial resources. Hence, property manager need to always carry out scheduled, planned, and emergency repair and maintenance all the time. By assessing the condition of the common properties, such as guard house, boom gate, services, general paint fabric condition, swimming pool, gym equipment, lighting, lifts, general cleanliness, landscape, one will be able to gauge whether the property is well managed and the finances are being managed diligently.
Strata Management
- Vacant possession handing over
- House rule/ by law/ AGM/ EGM
- Council
The laws have prescribed clearly the way how strata development schemes should be managed while there are still many situations arise that may not be covered under the law due to real life practical situations varied from one case to another. In fact, while we are at the stage that the Strata Management Act 2013 introduced since 2015 has tremendously improved the situation but there are still rooms for improvement. Good property management also means well compliance to many aspects ranging from the power and duty of the management body many operational matters such as the proceeding to General Meeting and way to deal with inter floor leaking as so on.
Admin Management
- Facility booking
- Visitor/ contractor
- Book keeping
In terms of building management, good property management include ensuring all building and its services that are intended for, serves their purpose safely, effective and efficiently. Technically, the property manager needs to be capable and sound in knowledge to manage and advise the management body accordingly so that the building can continuous to serve the occupiers. An effective administrative management will help the property owners to keep the property operation run smoothly from managing the visitor flow, safety while providing proper services to their occupiers such as well coordinated facility usage.
Property Management Team
Property Managers are required to perform various tasks in their daily operations. Their tasks include building maintenance, lift motor room inspection, checking fire fighting system, swimming pool maintenance and not forgetting fish pond cleaning.
Property Managers in Action
Here are some photos of our Property Management Team in action at various sites.
Property Management Fees
Here is the scale of professional fees of property management. It is in accordance with the Seventh Schedule of Valuers, Appraisers and Estate Agents (Amendment) Rules 2009:
| An annual fee based on: |
| 5.0% of the gross annual rent on the first RM 30,000.00 |
| 3.0% of the gross annual rent on the residue up to RM 100,000.00 |
| 2.0% of the gross annual rent on the residue over RM 100,000.00 |
Note:
The fee is applicable to each holding. The expression ‘holding’ as used here has the same meaning as defined in Section 2 of the Local Government Act 1976. The expression ‘gross annual rent’ means the rents reserved or deemed to be reserved by the lease or lettings plus any incidental receipts collected or accounted for or both in the course of management.
Minimum fee: As above subject to a minimum fee of RM50 per month.
Additional Claims
In addition to the above, claims may be made for:
- The cost of printing, plans, copies of documents, lithography, traveling and other expenses actually incurred.
- A fee of RM 150.00 per hour or RM 800.00 per working day of 8 hours for negotiations, attendance at meetings with solicitors, consultants or authorities.
- A fee of RM 200.00 per hour or RM 1,000.00 per working day of 8 hours for giving evidence before judicial bodies
Note:
The fees stated in items (2) and (3) are chargeable for actual appearance at meetings or before judicial bodies. In the case of postponements, adjournments, etc. (where less than 24 hours notice is given), a minimum fee of RM 400.00 is chargeable if the meeting or judicial appearance is in the same town/city as the location of the practice and a minimum of RM 800.00 is chargeable if the meeting or judicial appearance is outside the location of the practice.
Conclusion
In conclusion, a good compliance and comprehensive strata management, building management, administrative management and account management will benefits the strata community and add value to the strata property in the long term. Strata Schemes for Property Management Services includes apartments / flats, condominiums, gated community for landed properties and town houses, commercial and office buildings, shopping complexes and mix development properties. If you would like to know more about Strata Property Management, you may visit our Blog page. You can also connect with us thru social media at ONEASIA FB Page.
Through our Corporate Social Responsibility (CSR) policies and programs, we seek to provide effective solutions that benefit not only us and our investors, but the whole community. You may send us your contact details. Our Building Managers will be in touch with you. Alternatively, you may also text us via WhatsApp.