RISKS DURING THE DEVELOPER’S MANAGEMENT PERIOD FOR STRATA RESIDENTIAL PROPERTY IN MALAYSIA
DOI:
https://doi.org/10.21837/pm.v21i26.1279Keywords:
Developer’s Management Period, Strata Residential Property, Property Developer, Property Management Risks, MalaysiaAbstract
The property developer would be in a vital role to orchestrate the development and ensure the issuance of the strata title. Developer’s Management Period will take place right after the property completion if the strata title has not been issued during the delivery of vacant possession to the parcel owners. Concentrating on the property developer during the Developer’s Management Period, this study aimed to investigate the risks associated with the management of strata-titled properties as a strategy to further understand the needs of managing the property from the earliest stage. This study was adopting the analytical review of the literature, content analysis of the documents and thematic analysis from the semi-structured interviews with the industry players. This study has identified the employees’ competencies, financial liquidity, non-compliance to the laws, litigation, customer service and security management as six risk factors that the developers must be concerned about in managing strata-titled properties. Afterwards, developers may continue to do risk assessments and risk mitigation as parts of the risk management process.
Downloads
References
Andrew, L., Abdul Latiff, S. F., & Ali, H. I. I. (2021). Service Quality and Client’s Satisfaction: A Case Study among Employees at a Government Agency in Kota Samarahan towards Counter Services in Urban Transformation Centre (UTC) Kuching. E-Academia Journal, 10(2). doi: 10.24191/e-aj.v10i2.16288 DOI: https://doi.org/10.24191/e-aj.v10i2.16288
Azmi, A., Aning, P., Aziz, W. N. A. W. A., Juhari, N. H., Khair, N., Khan, P. A. M., & Sivanathan, S. (2021). Assessing the Strata Housing Attributes for Elderly to Age in Place in Klang Valley. PLANNING MALAYSIA, 19. doi: 10.21837/pm.v19i17.990 DOI: https://doi.org/10.21837/pm.v19i17.990
Azreen Roslan, Nur Diyana Yusoff, & Hayati Mohd Dahan. (2017). Risk Management Support and Organizational Performance: The Role of Enterprise Risk Management as Mediator. Journal of International Business, Economics and Entrepreneurship, 2(2), 43–48. DOI: https://doi.org/10.24191/jibe.v2i2.14450
Bahari, A. (2019, October). The Management Issues—Putting the Law into Practice. Presented at the One Day Workshop: Amendments on Strata Management Act 2013 (Act 757), Bangi Resort Hotel, Selangor, Malaysia. Bangi Resort Hotel, Selangor, Malaysia.
Cawangan Pengurusan Strata. (2016). Laporan Tahunan COB PBT 2016 [Annual Report]. Putrajaya, Malaysia: Kementerian Perumahan dan Kerajaan Tempatan. Retrieved from Kementerian Perumahan dan Kerajaan Tempatan website: https://www.kpkt.gov.my/kpkt/resources/user_1/GALERI/PDF_PENERBITAN/LAPORAN_TAHUNAN_COB/Laporan_Tahunan_COB_2016_STRATA2016_8mac.pdf
Cawangan Pengurusan Strata. (2017). Laporan Tahunan COB PBT 2017 [Annual Report]. Putrajaya, Malaysia: Kementerian Perumahan dan Kerajaan Tempatan. Retrieved from Kementerian Perumahan dan Kerajaan Tempatan website: https://www.kpkt.gov.my/kpkt/resources/user_1/GALERI/PDF_PENERBITAN/LAPORAN_TAHUNAN_COB/Laporan_Tahunan_COB_2017.pdf
Cawangan Pengurusan Strata. (2018). Laporan Tahunan COB PBT 2018 [Annual Report]. Putrajaya, Malaysia: Kementerian Perumahan dan Kerajaan Tempatan. Retrieved from Kementerian Perumahan dan Kerajaan Tempatan website: https://www.kpkt.gov.my/kpkt/resources/user_1/GALERI/PDF_PENERBITAN/LAPORAN_TAHUNAN_COB/LAPORAN_TAHUNAN_COB_2018.pdf
Cawangan Pengurusan Strata. (2019). Laporan Tahunan COB PBT 2019 [Annual Report]. Putrajaya, Malaysia: Kementerian Perumahan dan Kerajaan Tempatan. Retrieved from Kementerian Perumahan dan Kerajaan Tempatan website: https://www.kpkt.gov.my/kpkt/resources/user_1/GALERI/PDF_PENERBITAN/LAPORAN_TAHUNAN_COB/LP_COB_PBT_STRATA2019.pdf
Chai, Y. H. (2021, March 3). Good location, good returns. The Edge Markets. Retrieved from https://www.theedgemarkets.com/article/cover-story-good-location-good-returns
Christudason, A. (2007). Defects in common property of strata developments in Singapore: Representative actions against developers. Structural Survey, 25(3/4), 306–318. doi: 10.1108/02630800710772872 DOI: https://doi.org/10.1108/02630800710772872
HBA. (2019). HBA Insight Into Strata Management Legislations: Defining Strata Title Regime and Management/Maintenance Scheme. Kuala Lumpur: National House Buyers Association (HBA).
Kamarulzaman, N., Saleh, A. A., Hashim, S. Z., Hashim, H., & Abdul-Ghani, A. A. (2011). An Overview of the Influence of Physical Office Environments Towards Employee. Procedia Engineering, 20, 262–268. doi: 10.1016/j.proeng.2011.11.164 DOI: https://doi.org/10.1016/j.proeng.2011.11.164
Lai, C. H. (2016, August 5). JMBs & MCs Part 2: Developer Duties. Retrieved 27 July 2022, from BurgieLaw website: https://www.burgielaw.com/2016/08/05/jmbs-and-mcs-part-2-developer-duties/#:~:text=Preliminary%20Management%20Period%20%E2%80%93%20means%20the,book%20of%20the%20strata%20register
Ministry of Housing and Local Government. (2022). Malaysia National Report 2022: The Implementation of the New Urban Agenda [Special Report]. Putrajaya, Malaysia: Ministry of Housing and Local Government. Retrieved from Ministry of Housing and Local Government website: https://www.kpkt.gov.my/kpkt/resources/user_1/GALERI/PDF_PENERBITAN/BUKU_LAPORAN_TAHUNAN/BUKU_LAPORAN_NUA_MALAYSIA_2022.pdf?mid=703
Mohd, I. H., Julan, J., & Tuan Besar, T. B. H. (2020). Strategic Training and Development: The Impact on Employees’ Performance. Journal of International Business, Economics and Entrepreneurship, 5(2), 80. doi: 10.24191/jibe.v5i2.14246 DOI: https://doi.org/10.24191/jibe.v5i2.14246
Mohd Tawil, N., Yusoff, Y., Che-Ani, A., Goh, N., & Surat, M. (2012). A Study of Management Corporation Financial in High Rise Residential with Correlation of Management Fund and Facilities Provided. International Business Management, 6(3), 304–307. doi: 10.3923/ibm.2012.304.307 DOI: https://doi.org/10.3923/ibm.2012.304.307
Muhammad Azib Bin AB Manaf & Farah Safura Muhammud. (2022). Awareness of Mal Crime in Islam among UiTM Students. Journal of Islamic, Social, Economics and Development, 7(43), 40–49. doi: 10.55573/JISED.074304
Ng, W. A. (2018). Strata Management Tribunal: Your 7-Step Trobuleshooting Guide. Georgetown, Penang, Malaysia: The Light Academy Sdn. Bhd.
Nur Hazimah Amran & Wahida Ahmad. (2017). Liquidity Risk: An Islamic Banking Perspective. Jurnal Intelek, 12(1), 74–78.
Rabe, N. S., Osman, M. M., Abdullah, M. F., Ponrahono, Z., & Aziz, I. F. A. (2021). Issues Faced by Tenants in High-Rise Strata Residential: Case Study of Klang Valley. PLANNING MALAYSIA, 19. doi: 10.21837/pm.v19i19.1070 DOI: https://doi.org/10.21837/pm.v19i19.1070
REHDA Institute. (2018). Strata Management Handbook. Petaling Jaya, Selangor, Malaysia: Real Estate and Housing Developers’ Association of Malaysia (REHDA).
Sabir Ahmad, S., Wazir, N., Zakaria, A., & Mat Seman, M. A. (2021). The effect of workplace environment on employees learning and development. Journal of Creative Practices in Language Learning and Teaching (CPLT), 9(2), 151. doi: 10.24191/cplt.v9i2.16448 DOI: https://doi.org/10.24191/cplt.v9i2.16448
Schedule H of Housing Development (Control and Licensing) Regulations 1989. , (1989).
Shuhaimi, A. A. A., Osman, M. M., Rabe, S., Alhabshi, S. M. S. K., & Aripin, D. (2022). Enforcements and Offences under the Strata Management Act. PLANNING MALAYSIA, 20. doi: 10.21837/pm.v20i20.1077 DOI: https://doi.org/10.21837/pm.v20i20.1077
Strata Management Act 2013 (Act 757). , Act 757 §.
Tan, C. (2019). Strata Owner’s Manual & Guidebook 2.0 (Strata OMG 2.0). Petaling Jaya, Selangor, Malaysia: EdgeProp.my & Chur Associates.
Tee, J. (2016). Malaysian Real Estate Industry Value Creation Strategies. Malaysia: Dr. James Tee.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 Ahmad Shazrin Mohamed Azmi, Mursyidah Ramli
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 Unported License.
Copyright & Creative Commons Licence
eISSN: 0128-0945 © Year. The Authors. Published for Malaysia Institute of Planners. This is an open-access article under the CC BY-NC-ND license.
The authors hold the copyright without restrictions and also retain publishing rights without restrictions.
