How many licensed property managers serve Malaysian strata schemes?

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Over 500 Licensed Property Management Firms Serve Malaysian Strata Schemes

Currently, 594 licensed property management firms are actively serving Malaysia's strata schemes, which encompass 26,334 individual schemes and a total of 2.91 million housing units. This situation results in an average workload of 44 strata schemes or approximately 4,898 housing units per firm. The Ministry of Housing and Local Government (KPKT) is considering a new law to address the ongoing challenges associated with inadequate property and building management, particularly within stratified developments.
Current Firm Capacity and Coverage

The existing number of licensed property management firms, standing at 594, is tasked with managing a substantial portfolio of 26,334 strata schemes. This extensive responsibility translates to an average of 44 schemes or 4,898 units being managed by each firm. This distribution highlights a potential strain on resources and service delivery across the country.
Impact of Service Gaps

The disparity between the number of licensed firms and the sheer volume of strata schemes has led to significant issues in service delivery for Joint Management Bodies (JMB) and Management Committees (MC). This shortage is also a contributing factor to the proliferation of unlicenced and unqualified individuals operating as property managers. Such mismanagement, often by untrained or dishonest individuals, directly impacts property values and can lead to deteriorating living conditions for residents.
Proposed Legislative Measures

In response to these persistent problems, the Housing and Local Government Ministry is exploring the introduction of a new, dedicated law for property and building management. This proposed legislation aims to specifically address the unique challenges faced in this sector, moving beyond the current framework where property managers are regulated under the Valuers, Appraisers, Estate Agents and Property Managers Act 1981 (Act 242).
Objectives of a Standalone Act

The primary goal of establishing a standalone act for property management is to elevate the standards of professional services offered. By creating a more focused regulatory environment, the ministry seeks to ensure greater accountability and transparency in how maintenance fees collected from residents are managed and utilised. This move is intended to better protect the interests of property owners and tenants.

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How many licensed property managers serve Malaysian strata schemes?

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