Property Management Services Ordinance to be fully implemented tomorrow

Property Management Services Ordinance to be fully implemented tomorrow

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　　The Home and Youth Affairs Bureau (HYAB) said today (July 31) that the three-year transitional period for the Property Management Services Ordinance (Cap. 626) (PMSO) will end today. Starting from August 1, 2023, all companies providing properties subject to deeds of mutual covenant with more than one category of prescribed property management (PM) services, as well as PM practitioners (PMPs) serving a managerial or supervisory role in such PM companies (PMCs), must hold a valid licence in accordance with the PMSO.
 
　　The Property Management Services Authority (PMSA) is responsible for the implementation of the licensing regime under the PMSO. The PMSO provides for a single-tier licensing regime of PMCs, which are business entities that carry on the business of providing PM services. The PMSO also provides for a two-tier licensing regime of PMPs (i.e. PMP (Tier 1) licence and PMP (Tier 2) licence). Only those PMPs who assume a managerial or supervisory role in a PMC in relation to PM services provided by the PMC will be subject to licensing. Frontline staff will not be required to obtain PMP licences. 
 
　　As of yesterday (July 30), the PMSA has issued formal licences to 747 PMCs and nearly 12 000 PMPs.
 
　　”The PMSA has been actively taking forward the full implementation of the licensing regime. The PMSA has issued licences to PMCs that are required to be licensed under the PMSO. The PM industry should be able to smoothly transfer to the new regulatory regime,” a spokesman for the HYAB said.
 
　　The spokesman said, “Following the full implementation of the PMSO, the new regulatory regime for the PM industry will take full effect. The new regulatory regime should regulate and control the provision of PM services; promote the integrity, competence and professionalism of the profession of PM services; and maintain and enhance the status of the profession of PM services.”
 
　　For any enquiries about details of the licensing regime, please visit the website of the PMSA (www.pmsa.org.hk/en/), or contact the PMSA at 3696 1111.

Ends/Monday, July 31, 2023

Issued at HKT 17:50

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