VAEA Public Notice

Please be informed that the following Acts of Parliament are the ONLY legislative provisions that govern and regulate the ownership, administration, maintenance and management of stratified commercial and residential properties in the country:

According to the BCPMM Act which came into effect on 12 April 2007, all stratified properties previously maintained and managed by Developers upon the issuance of certificates of fitness by the local authorities, pending the issuance of strata titles , will have to be handed over to Joint Management Bodies (JMB). The JMBs will in turn have to hand over the management and maintenance of the said properties to the respective Management Corporations upon the issuance of strata titles pursuant to the ST Act.

The laws allow the JMBs and MCs to maintain and manage the said properties on their own, or in the alternative, appoint managing agents (individuals or companies) to perform these functions for them. The terms and conditions of such appointment have to be directly negotiated and agreed to between the JMBs/MCs and the managing agents.

We have been informed that certain parties have been misleading JMBs and MCs to believe that only property managers duly registered with the Board of Valuers, Appraisers and Estate Agents (BVAEA) set up pursuant to the Valuers, Appraisers and Estate Agents Act, 1981 (VAEA Act) can be appointed as managing agents to maintain and manage stratified properties. This is not true. The JMBs and MCs, which have been set up pursuant to the BCPMM Act and the ST Act, are at full liberty to appoint managing agents of their choice without hindrance or interference from third parties. JMBs and MCs are not subject to any provisions under the VAEA Act.

A VAEA Joint Action Group (VAEA-JAG) comprising key stakeholders in the building industry (developers, engineers, architects , owner associations, joint management bodies and management corporations) has been formed to address these issues in greater depth and better clarity. JMBs, MCs and strata parcel owners are invited to contact the VAEA-JAG Secretariat at 03-77276202, 03-77276232, 03-41491719,03-41491082. Fax: 03-77276203, 03-41434739. Email: ppkmash@tm.net.my, svenkat19@yahoo.com.sg if they wish to obtain assistance and further information on these and related issues.