Property Management Services Authority to Gazette List of Property Management Company and Property Management Practitioner Licence Holders
In accordance with the requirement stipulated in the Property Management Services Ordinance (Cap. 626) (PMSO), the Property Management Services Authority (PMSA) will publish in the Gazette tomorrow the list of Property Management Company (PMC) and PM Practitioner (PMP) licence holders under the property management (PM) industry licensing regime as of 31 July 2024.
The PM industry licensing regime was implemented from 1 August 2020 and its three-year transitional period ended on 31 July last year. The implementation was smooth over the past year after the transition. As of today, the PMSA has already issued more than 780 PMC licences and over 19,000 PMP licences. Discounting those who have obtained both formal and provisional licences as well as those who hold more than one class of licence, there are nearly 14,400 PMP licence holders who provide PM services to over 2.4 million units in different types of properties in Hong Kong.
The average age of the aforementioned PMP licence holders (i.e. PMPs who are serving managerial or supervisory roles in PMCs or commonly known as PM Manager / Officer) is 45, with 40% of them aged 40 or under, reflecting that many young people have joined the industry in recent years, and PM practitioners at supervisory or managerial level have developed a younger profile.
Dr James Wong, Chairperson of the PMSA, said, “The PMSA has continued to carry out its licensing work after the smooth transition of the licensing regime. Around 200 first-time PMP licence applications are received every month, reflecting the earnest aspiration of PMPs to drive the industry towards enhanced quality and professionalism through actively applying for licence to raise their professional standard.”
Dr Wong added, “Besides dealing with new licence applications, the PMSA has also begun processing PMP and PMC licence renewal applications. In addition, the PMSA has also begun conducting inspection following the ending of the transitional period of the licensing regime. Over 900 properties have been inspected as of now, covering all licensed PMCs which practically provide PM services. The inspection results indicated that the concerned PMCs had largely complied with the relevant regulation. The PMSA has also issued letters in a few individual cases of non-compliance to advise the PMCs concerned to make rectification and improvement in order to comply with the regulation.”
Pursuant to the PMSO, PMCs providing more than one category of prescribed PM services to any property subject to deed of mutual covenant and PMPs serving managerial or supervisory roles in licensed PMCs to provide PM services must hold valid PM licence issued by the PMSA. PMP licences are divided into two classes. PMP (Tier 1) licence holders shall, in addition to holding a relevant Bachelor’s degree or above and with relevant PM work experience, also possess professional qualification as a member of a PMSA recognised professional body. PMP (Tier 2) licence holders shall hold an associate degree / diploma or above and possess relevant work experience.
Ends/Thursday, 22 August 2024
Issued at HKT 15:00
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