News & Insights

• EA Awareness Video

This is an initiative by the Property Surveying Division of Royal Institution of Surveyors Malaysia (RISM),  to educate the public about the importance of choosing Registered Estate Agents for any property transactions.

https://rism.org.my/rism-ps-ea-awareness-video/ 

• Property Management Awareness Video “Sayangi Strataku”

The Property Surveying Division of Royal Institution of Surveyors Malaysia (RISM), takes an initiative to educate the public about the importance of choosing the Registered Property Managers.

Strata living will be the future lifestyle of Malaysians as land cost will increase and land is scarce nowadays, leading to more vertical developments. Hence, holistic control and regulation are needed not just in the development aspect but also for property management. Poor maintenance of the lifts, faulty old rooftop storage tanks, depleted sinking funds, security problems and many others.

Those are common cases which also include breach of trust when property managers disappear with JMB/MC collection fees, as well as incompetence in managing the property, resulting in home- or strata-owners refusing to pay service charges, which further hampers the property managers’ ability to provide good service.

Its timely indeed the need for property managers to register, it ensures the public is served by practitioners with the necessary skills in the field, such as building construction, property maintenance, property and strata law, and property finance, among others. With the launch of the Register of Property Managers, it brings the practice of property management under the ambit of the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP), which falls under the Ministry of Finance’s purview. The penalties that will be faced by unregistered property managers include admonishment, suspension and fines from RM10,000.

https://rism.org.my/property-management-awareness-video-sayangi-strataku/ 

• Unravelling the Facts Behind the Property Overhang

The Royal Institution of Surveyors Malaysia (RISM) is pleased to announce the release of its publication entitled Investigating Property Overhang: Policy Analyses. This publication is a collaborative research by the Property Surveying Division of The Royal Institution of Surveyors Malaysia and Jabatan Penilaian dan Perkhidmatan Harta (JPPH).

Property overhang is a long outstanding issue in the Malaysian Real Estate Industry. First highlighted after the 1997 Asian Financial Crisis, the issue persists until today in spite of the various measures taken by the government.  The statistics on residential property overhang as at Q3 2019 reveals that the magnitude of the problem is three times more in volume and eleven times more in value than the first overhang data captured in 2004. Residential property overhang is not only an issue to the developers but equally important is to consider the social costs that it presents to the house-buyers and the community in which the overhang units exist. Hence, it becomes urgent to address and rethink some of the policies and measures to address the overhang issue.

https://rism.org.my/unravelling-the-facts-behind-the-property-overhang-fin-video/ 

• Clips from Webinar