Retirement Home & Lifestyle: The Australian Experience
by Dato' Michael Yam
President, REHDA
BUDGET CONSULTATION 2011
THEME: TOGETHER, STRIVING TOWARDS A HIGH-INCOME ECONOMY
With due cognizance of the budget theme ‘Together, Striving Towards a High Income Economy’ and the aspirations of the Nation as expounded in the Government Transformation Plan, the New Economic Model and the Tenth Malaysia Plan, REHDA Malaysia would wish to submit the below listed for due consideration of implementation for Budget 2011.
Property Developers' Perspective: Professional Qualification and Certification of Construction and Project Development Personnel
This paper was presented at the Forum on Professional Certification and Internationalisation of Construction Personnel for Project Excellence on 28 January 2010. The paper covers REHDA's viewpoint of the current state of the industry, the country's aspirations and how best to place our step to become more competitive on an international level.
An Update on the Malaysian Property Market (2009)
This paper was presented to the media in mid-December detailing the 2009 property scenario using recent statistics by REHDA Institute in collaboration with REHDA Malaysia.
The Malaysian Property Market (August 2009)
This paper was presented at the Malaysian National Real Estate Convention on 11 August 2009 and covers the following areas:
- Malaysia Property Development: The History
- Malaysia Property Development: The Current Scenario
- Malaysia Property Development: Outlook
- Malaysia Property Development: Issues and Challenges
- Malaysia Property Development: REHDA's Proposal
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:
- Strata Titles Act,1985 (Act 318) [ST Act] ; and
- Building and Common Property [Maintenance and Management] Act, 2007 (Act 663) [BCPMM Act].
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.