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Archive for the ‘Real Estate’ Category

The Property Management in Malaysia

Thursday, August 19th, 2010

Property management is managing or maintain a particular building in a good state and repair. Property manager is the people who eligible enough to carry out the job manage the property. The property objectives and the goal need to be achieved so that it can create the optimum net return. On the other hand, the facilities and the service in the property need to be in good conditions; hence it can create a safe and functional living environment to the occupants.

Property management in Malaysia is enforced under a related act such as National Land Code 1965, Strata Title Act 1985, Housing Development Act 1966 & Regulations, Building & Common Property Act 2007 and Valuers, Appraisals and Estate Agents Act 1981. Most of the act mention about how to conduct or perform duties as a property management. It also provides the proper maintenance and management of buildings and common property and for matters incidental thereof.

There are wide functions for the property management. Firstly, maintenance management which is includes all the maintenance work and supervision of work in the property. Secondly is the financial management which is need to work on the financial and account of the property. Ownership or tenancy management was work detail in the assessment list, rental and tenancy period and etc. next, where, units need to be rented, the property manager need to market it. At the same time promotional activities are carried out to create interest in the units by the target market. This is under marketing and promotional scope. Property data management is about varies data of the property to be recorded and the property management effectiveness is depending on the availability of good record system. Lastly, general management is about managing and interact with the service providers. The registered property manager have these ability and skills to carry all the responsibility in order to give good services to the occupants.