PROPERTY MANAGEMENT - WHAT WE CAN DO FOR YOU

One of the many varied functions of Colliers, Jordan Lee & Jaafar Sdn. Bhd., the Malaysian office of Colliers International Property Consultants, is in the field of Property Management. As property managers, we are experienced and qualified to advise on the economics of the buildings, design and concepts, problems of new buildings and planned building maintenance to control physical depreciation and economic obsolescence.

Basic Requirements

In order to enable us to perform our duties successfully and effectively,  we  must  be given the full authority to administer the property in the way we deem best. An authorization letter from the owner is therefore necessary.

We shall be authorized to engaged the services of any contractors for the repairs and maintenance of the building without consultation with the owner provided that such repairs or maintenance charges do not exceed RM5,000.00 per job, in which case, the written consent from the owner shall first be obtained.

SCOPE OF SERVICES

Our property management services can be categorized into the following functions:

Administrative Functions

1. Supervising the hand-over of vacant possession by the developer and the inspection of the buildings for defects and non-conformity with the Sales & Purchase Agreement specifications.

2. Collecting rents from tenants by issuing bills to every tenant monthly and advising and supervising any necessary actions, legal or otherwise, to be taken to recover arrears and other dues from tenants.

3. Making payment off all the outgoing on the client's behalf upon receipt of the amounts due.

4. Recording and recovering outgoing, where appropriate and keeping inventory of stocks.

5. Maintaining occupancy/tenancy records.

6. Presenting fully dissected accounts showing all income and expenditures quarterly.

7. Supervising service contracts and advising on dilapidation claims on expiry of tenancies (if applicable)

8. Attending to all insurance matters relating to the properties.

9. Acting on the client's behalf in all dealings and disputes with tenants and other parties.

Planned Maintenance and Management Functions

1. Organising and supervising general cleaning by engaging a firm of contract cleaners at the client's expense.

2. Maintenance of the properties mechanical and electrical services.

3. Carry out periodic inspection of rented space within the building to ensure tenants' compliance with the terms and conditions of tenancy and taking necessary actions where there is a breach of any of the convenants.

4. Ensuring that all tenants submit layout plans of any renovation works for review and approval, and if necessary for submission to the authorities before commencement of construction.

5. Supplying all necessary information to the appointed insurance brokers to ensure adequate coverage for the building.

Agency Functions

Our proposal for property management usually extends to that of our being appointed Sole Leasing Agent. (Please see our Agency Division Guidelines)

PERIOD OF MANAGEMENT

We are usually appointed as property manager for a period of three (3) years with option for renewal at fees and terms to be agreed upon.

PROFESSIONAL FEES

The scale of fees as gazetted under the Valuers, Appraisers & Estate Agents Rules, dated March 6, 1986, prescribed to be the scale for property management services is as follows:

(Gross annual rent is defined to mean "the rents reserved or deemed to be reserved by the lease or lettings plus any incidental receipts collected and/or accounted for in the course of management)  

(Minimum Fee : RM50 per month per holding)

1. When and why is a professional agent required ?

2. What are the brokerage fees ?

3. What are the necessary fees required for a real estate property transaction ?

4. What are your scope of work when you manage a property ?

5. What are your management fees ?

6. What sort of consultancy services do Colliers offer ?

7. What is your scope of work in doing feasibility & marketability study ?

8. When is a property appraisal needed ?

9. Who can appraise my property  and what does an appraisal report contain?

10. What are the appraisal fees ?

11. How can I become an appraiser ?