The Property Management Services Authority (PMSA) held a focus group meeting today to collect views from 9 industry associations to optimise the draft Code of Conduct and the relevant Best Practice Guide entitled “Handling Payment for or Arranging Payment to be Made by Clients” which will be served as a practical guide to the property management (PM) area concerned. It is envisaged that the Code of Conduct will be gazetted and take effect in the first quarter of 2022.
The focus group meeting was held online and the industry associations participated include (in alphabetical order):
- Chartered Institute of Housing Asian Pacific Branch;
- Hong Kong Institute of Certified Property Managers;
- Hong Kong Institute of Real Estate Administrators;
- Royal Institution of Chartered Surveyors;
- The Federation of Hong Kong Property Management Industry Limited;
- The Hong Kong Association of Property Management Companies;
- The Hong Kong Institute of Facility Management;
- The Hong Kong Institute of Housing; and
- The Hong Kong Institute of Surveyors.
Mr Tony TSE, the PMSA Chairperson said, “For payments relating to PM services, the property management companies (PMCs) may from time to time settle it for or arrange it to be made by clients. Establishing a proper mechanism for handling and recording payments appropriately will facilitate financial planning and any necessary inspections and follow-ups in the future. The PMSA expresses appreciation to the industry associations which have provided invaluable comments to ensure the Code of Conduct and Best Practice Guide will meet the operational needs of the industry.”
Since the licensing regime for PM industry has come into operation, the PMSA has already issued 8 Codes of Conduct and relevant Best Practice Guides including “General Code of Conduct”, “Complaint Handling Mechanism of Property Management Companies”, “Effective Control over Property Management Business by Property Management Companies”, “Handling Moneys Received on behalf of Clients by Property Management Companies”, “Obligations of Property Management Companies regarding the Ending of their Appointment”, “Prevention of Corruption”, “Prescribed Conditions on Licences”, as well as “Protection on Personal Data”. For details of the Codes of Conduct and the relevant Best Practice Guides, please refer to the following PMSA webpage:
https://www.pmsa.org.hk/en/regulatory/regulating-licensees#reg-04
The PMSA will continue to issue other Codes of Conduct and Best Practice Guides timely, covering different PM areas in order to provide guidance to the industry, including but not limited to the following:-
- Provision of Prescribed Information and Financial Documents to Clients by Property Management Companies;
- Carrying Out Procurements for Clients and Prevention of Bid-rigging;
- Handling Emergencies;
- Scaffolding Works to be Carried Out at Property;
- Handling Instrument of Appointing a Proxy;
- Prevention of Corruption – Financial Management;
- Prevention of Corruption – Monitoring Outsourced Property Management Services;
- Prevention of Corruption – Staff Recruitment and Management; and
- Mechanism of Distribution of Promotional Materials at Property.
Ends/Friday, 26 November 2021
Issued at HKT 17:30
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