<Extracted from: https://pmsa.org.hk/en/press-release-en/20230706/ >
The Property Management Services Authority (PMSA) announced today that it has issued over 700 property management company (PMCs) licences since the implementation of the property management (PM) industry licensing regime from 1 August 2020,.
Chairperson of the PMSA Dr James WONG said, “Only 25 days remain for the three-year transitional period under the PM industry licensing regime (up to 31 July 2023). The PM industry in Hong Kong looks forward to embracing a new era for PM whereby PMCs and relevant PMPs will be licensed and move towards enhanced quality and professionalism. In the remaining days of the transitional period, the PMSA will work in full swing to process the remaining licence applications, including proactively visiting PMCs which are required to be but not yet licensed. We will assist those which meet licensing criteria to complete the application procedures immediately so that they can continue to provide PM services seamlessly after the transitional period.”
Chairperson WONG added, “I also wish to appeal for members of the public to pay attention to the licensing regime and verify soonest possible as to whether the PMCs engaged by their properties are required to be licensed and whether they hold valid licence issued by the PMSA, so as to ensure that their PM services would not be affected after the transitional period.”
As for property management practitioners (PMPs), the PMSA has already issued over 13,700 PMP licences whereby formal licences account for 68% and provisional licences account for 32%. Discounting around 2,000 provisional PMP licensees who have also obtained formal PMP licence and a small number of PMPs who hold more than one type of licences, over 11,000 PMPs have already been licensed.
Starting from 1 August 2023, all PMCs providing properties subject to deed of mutual covenant with more than one category of prescribed PM services, as well as PMPs serving managerial or supervisory roles in such PMCs to provide PM services, must hold valid PM licence in accordance with the Property Management Services Ordinance in order to continue to provide PM services after the transitional period. A PMC required to be licensed cannot act as a PMC if it does not possess a valid PMC licence. For relevant PMPs, one cannot act as a licensed PMP if he/she does not possess a valid PMP licence. Contravention is liable on conviction to a maximum fine of $500,000 and imprisonment for two years.
Ends/Thursday, 6 July 2023
Issued at HKT 16:00