Separate board for property managers creates overlapping functions - BOVEAP

Last update: 01/11/2018

KUALA LUMPUR, Nov 1 (Bernama) -- The Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVEAP) has asserted that there is no need to establish separate board for property managers as this would create overlapping functions.

BOVEAP senior board member Kamaruzaman Jamil said under the Act 242 under the purview of the Finance Ministry, the register for property managers had been already established separately from the board of valuers, appraisers and estate agents, which allows BOVEAP to supervise property managers including strata titles and non strata titles such as office complex, commercial complex, apartments/condominiums and others.

“BOVEAP also wants to clarify the perception that property managers need to be registered under registered valuers is incorrect.

“All registered property managers can set up their own property management company to provide their services,” he told a media conference here, today.

Kamaruzaman was responding to recent news report stating that the Malaysian Institute of Professional Property Managers and Facility Managers (MIPFM) had suggested for property and facility management to have separate board for real estate agents.

He said as BOVEAP was set up to protect public interest, its board is represented by various stakeholders from multi-disciplines including MIPFM and the Malaysia Institute of Estate Agents (MIEA).

“We have a total of almost 3,000 registered individual members including 1,414 new ones during this window period until Dec 31, 2018. But we are expecting over 6,000 members as application usually comes at the last minute,” said Kamaruzaman.

Meanwhile, MIPFM immediate past president Ishak Ismail said the view voiced out by MIPFM President Sarkunan Subramaniam could be his personal opinion as the matter was not being discussed at any meeting.

“Financially, we cannot have the board separately because this involves public money, which is why it is placed under the Finance Ministry.

“Apart from duplication and waste of resources, this will also create confusion among the public as to where they can channel their queries and problems,” said Ishak.