The property supervision bureau implemented the property management licensing system at the end of the year
The Property Management Licensing System has not yet been implemented. The Chairman of the Property Management Industry Authority (hereinafter referred to as the Property Management Bureau), Mr Tse Wai-wai, is actively drafting the Property Management Services (Licensing and Other Related Matters) Regulation (Subsidiary Legislation). Before the adjournment of the Legislative Council, the Legislative Council will be submitted to the Legislative Council for a review and review process. It is expected that the licensing system will be implemented by the end of this year or early next year.
According to the “Property Management Services Ordinance”, companies providing more than one type of property management services are required to be licensed in the seven types of property management services. Managers at the managerial and tertiary levels are required. brand. For a licensed property management company that manages every 1,500 or less units, a full-time employment of at least one managerial level and one director-level licensed property manager is required; for every 1501 to 3,000 units managed, the licensed property management company is at least full-time At least one managerial and two director-level licensed property managers are employed.
Manager-level property managers are required to meet a property management degree or equivalent and work experience guidelines. Managerial staff who do not meet the relevant academic qualifications may be issued with a provisional licence to apply for a formal licence after completing the designated refresher course within 3 years of holding the temporary licence. A three-year transition period from the date of implementation of the licensing system. After the transition period, if the property management service is unlicensed, it can be sued for a maximum fine of $500,000 and imprisonment for two years.
3 years in transition, 500,000 without penalty
Mr Tse pointed out that after the implementation of the licensing system, about 1,000 property management companies and more than 10,000 property management practitioners in Hong Kong were required to obtain licences to eliminate the unevenness of the company or its practitioners. In terms of licensing fees, the annual fee for the company license is 6,000 yuan, the manager level is 1,200 yuan, and the director level is 400 yuan. He believes that because of the low licensing fees, the impact on management fees is minimal.
As for the owners of self-managed properties, if the owners’ corporation has less than 1,500 units, it does not need to hold a property management company licence.