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Showing posts with label Is real estate still a viable investment asset?. Show all posts
Showing posts with label Is real estate still a viable investment asset?. Show all posts

Wednesday, 19 June 2024

‘Review Strata Management Act’

 

Separate role for property managers


Borhan (front row, third from left) with attendees during the Strata Residential Building Management Enhancement Seminar in Shah Alam.

A REVIEW of the Strata Management Act 2013 is needed to ensure existing laws and regulations are relevant and effective, says Selangor housing and culture committee chairman Borhan Aman Shah.

He said the law needs to address emerging challenges faced by joint management bodies (JMB) and management corporations (MC).

Borhan said the Housing and Local Government Ministry should consider providing more funds and grants to JMB and MC to assist them in implementing maintenance and repair projects.

“Provide more training and capacity building for JMB and MC members as well as building management agents,” he said during the Strata Residential Building Management Enhancement Seminar at a convention centre in Shah Alam. 

Borhan said the ministry should introduce new technology for strata management.

“This includes the use of mobile apps and digital management systems to streamline the daily operations of JMB and MC in enhancing management efficiency,” he said.

He also suggested that personal accident insurance packages be included for JMB and MC committee members under the amended law to motivate them to carry out their duties.

He said for example, when the JMB or MC carried out maintenance checks and the elevator in an apartment was faulty, their safety could be at risk.

Such checks, Borhan said were made without any guarantee that they would be compensated in the event of an untoward incident.

“There is nothing to ensure their safety or welfare, and many felt burdened when carrying out their jobs.

“Besides the insurance, JMB should be allocated additional grants to enable them to carry out their responsibilities without having to worry about their safety.

Borhan advised those involved in managing apartments to attend seminars to empower and update themselves on governance system for JMB and MC.

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Related

Govt to review, amend Strata Management Act

Govt to review, amend Strata Management Act

KUALA LUMPUR: The government is set to review the Strata Management Act 2013 (Act 757) for amendment soon, said the local government development ministry.

Its deputy minister, Akmal Nasir, said the review and amendment of the Act were in line with the third Rolling Plan of the 12th Malaysia Plan.


Strata Management Practice & Procedure A ...

13 Oct 2021 — Strata Management Act 2013 [Act 757]. Strata Management Act 2013 [Act 757]. Strata Management (Maintenance and Management) Regulations 2015

https://www.ongmaju.com/wp-content/uploads/2017/01/Strata-Management-Act-757-English.pdf

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