In order to excel in Malaysia’s dynamic real estate industry, property professionals must thoroughly understand the crucial roles in real estate management; namely, Stata Manager, Building Manager, and Property Manager. They are vital for efficiently overseeing properties and guaranteeing their successful management.
Continue reading to delve deeper into the responsibilities and significance of these three real estate management roles in Malaysia.
Roles of a Strata Manager
A Strata Manager is a vital component of effective real estate management. Their main duties involve managing and maintaining common areas and facilities within stratified properties, such as condominiums, apartments, and any other real estate that incorporates multiple ownership entities.
Moreover, Strata Managers act as a bridge between property owners and management committees. They ensure that all shared spaces and resources are managed effectively and in strict accordance with the Strata Management Act 2013.
Here are several specific duties of a Strata Manager:
- Facilitating effective communication and coordination between property owners, management committees, and residents.
- Administering and enforcing the rules, by-laws, and regulations governing the strata property.
- Overseeing maintenance and repair works for common areas and facilities.
- Managing the financial aspects, including collection of maintenance fees, budgeting, and accounting for the strata property.
- Organising and conducting meetings, including annual general meetings and management committee meetings.
Roles of a Building Manager
The second role fundamental to real estate management in Malaysia is the Building Manager. Sometimes referred to as Facilities Managers, they are responsible for the operational functions of a property, ensuring it meets the needs of the people who live in, work in, or use it.
Their responsibilities typically include:
- Managing the day-to-day operations of the building, including security, cleaning, and maintenance services.
- Conducting regular inspections to identify maintenance and repair needs.
- Developing and implementing preventive maintenance programmes.
- Ensuring compliance with relevant laws, regulations, and safety standards.
- Managing service contracts and vendor relationships.
- Handling tenant relations and addressing their concerns.
It’s important to note that while their roles may seem similar to those of a Strata Manager, Building Managers generally apply a more hands-on approach towards managing their properties. Moreover, a Building Manager’s role varies depending on the size and nature of the property. In some cases, they may single-handedly perform all these tasks.
However, in larger properties, they might oversee a team of specialised staff and contractors, covering areas like cleaning, maintenance, security, and administration to ensure the smooth running of the building.
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Roles of a Property Manager
A Property Manager in Malaysia, just like in many other countries, is a professional individual or company tasked with managing the day-to-day operations of a real estate property. The specific responsibilities of a Property Manager can vary according to the agreement they have with the property owner, but typically, their duties include the following:
- Marketing and leasing vacant properties to attract suitable tenants.
- Conducting tenant screenings, lease negotiations, and rent collection.
- Coordinating property maintenance and repairs.
- Handling tenant requests and addressing complaints.
- Monitoring and managing budgets, financial reports, and property expenses.
- Keeping up-to-date with market trends and conducting property market analysis.
Moreover, with their in-depth knowledge of the real estate market, they guide property owners in making critical decisions, like setting competitive rental rates, in order to:
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To sum up, these three roles – the Strata Manager, the Building Manager, and the Property Manager – form the foundation of successful real estate management in Malaysia. Although their responsibilities can sometimes overlap, each role has its unique set of skills and areas of expertise that contribute to maintaining and improving the properties they manage.
Rumah-i is a prominent rental services company in Malaysia, providing hassle-free solutions for property owners and investors. With our extensive experience and profound understanding of a property owner’s needs and concerns, we offer a comprehensive property management package that ensures guaranteed returns on your investment.