Malaysia legislation

Section 22I

of *VALUERS, APPRAISERS AND ESTATE AGENTS ACT 1981

Section 22I

(2)

The property management practice referred to in subsection (1)

includes the following:

(a)

enforcing the terms of leases and other agreements pertaining to the property;

(b)

preparing budgets and maintaining the financial records for the property;

(c)

monitoring outgoings for the property and making payments out of the income from the property;

(d)

advising on sale, purchase and letting decisions;

(e)

advising on insurance matters;

(f)

advising on the opportunities for the realization of development or investment potential of the property;

(g)

advising on the necessity for upgrading the property or for the merging of interests;

(h)

managing and maintaining the building and facilities attached to the building; and

(i)

making or checking of inventories of furniture, fixtures, trade stocks, plant or machinery, or other effects.

Restriction on property management practice