PROPERTY MANAGEMENT PROFESSIONAL FEES
Scale of Professional Fees (In accordance with the Seventh Schedule of Valuers, Appraisers and Estate Agents (Amendment) Rules 2009) are as follows:
An annual fee based on:
|5.0% of the gross annual rent on the first RM30,000|
|3.0% of the gross annual rent on the residue up to RM 100,000|
|2.0% of the gross annual rent on the residue over RM 100,000|
* The fee is applicable to each holding. The expression ‘holding’ as used here has the same meaning as defined in Section 2 of the Local Government Act 1976.
The expression ‘gross annual rent’ means the rents reserved or deemed to be reserved by the lease or lettings plus any incidental receipts collected or accounted for or both in the course of management.
Minimum fee : As above subject to a minimum fee of RM50 per month.
In addition to the above, claims may be made for-
- The cost of printing, plans, copies of documents, lithography, travelling and other expenses actually incurred;
- A fee of RM 150 per hour or RM 800 per working day of 8 hours for negotiations, attendance at meetings with solicitors, consultants or authorities;
- A fee of RM 200 per hour or RM 1,000 per working day of 8 hours for giving evidence before judicial bodies.
The fees stated in items (2) and (3) are chargeable for actual appearance at meetings or before judicial bodies. In the case of postponements, adjournments, etc. (where less than 24 hours notice is given), a minimum fee of RM 400 is chargeable if the meeting or judicial appearance is in the same town/city as the location of the practice and a minimum of RM 800 is chargeable if the meeting or judicial appearance is outside the location of the practice.