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 Valuation | Property Management | Estate Agency
A. VALUATION
1. Fees payable by the Land Administrator under the Land Acquisition Act for Valuation reports
| FROM (RM) | TO (RM) | FEES (RM) | | 1 | 50,000 | 1,500 | | 50,001 | 500,000 | 2,500 | | 500,001 | 1,000,000 | 3,500 |
For awards greater than RM1,000,000 the fee shall be a minimum of RM 3,500 plus the fee based on the following rate:
| FROM (RM) | TO (RM) | FEES (RM) | | 1,000,001 | 2,000,000 | 6/25% | | 2.000.001 | 7,000,000 | 5/25% | | 7,000,001 | 15,000 000 | 3/20% | | 15,000.001 | 50,000 000 | 3/50% | | Any amount over -50.000,000 | | 6/250% |
The fees payable shall be based on the amount awarded by the District Land Administrator. It shall be payable upon the submission by the person claiming compensation based upon a valuation report prepared by a registered valuer or appraiser in accordance with the guidelines issued by the Board for the valuation report. It does not include disbursements nor fees/ disbursements for work done in preparation for negotiations and court attendance.
2. Fee for capital valuation for submission to Securities Commission and the Governor of Bank Negara and plant and machinery valuation services.
| 3/8 % on the first RM 100,000 | | 3/10 % on the residue UP to RM 2 million | | 1/4 % on the residue up to RM 7 million | | 3/16 % on the residue up to RM 15 million | | 3/20 % on the residue up to RM 50 million | | 1/10°/0 on the residue up to RM200 million | | 1/15°/0 on the residue up to RM500 million | | 1/20°/0 on the residue over RM500 million | Minimum Fee: As above, but may be subject to a maximum discount of 30% and a minimum fee of RM 2,000 per case.
3. Fee for other capital valuation/rating valuation services based on an "Improved Value" basis. | 1/4 % on the first RM 100,000 | | 1/5 % on the residue UD to RM 2 million | | 1/6 % on the residue UP to RM 7 million | | 1/8 % on the residue UD to RM 15 million | | 71/10 % on the residue UD to RM 50 million | | 1/15% on the residue UP RM200 million | | 1/20% on the residue UP to RM500 million | | 1/25% on the residue over RM500 million | Minimum Fee: As above, but may be subject to a maximum discount of 30% and a minimum fee of RM 300 per case.
4. Fee for rental and rating valuation services. | 7 % on the first RM 6 000 of annual rental | | 4 % on the next RM 12,000 of annual rental | | 3 % on the next RM 24 000 of annual rental | | 2.5 % on the next RM 120,000 of annual rental | | 1.5 % on the next RM 1,000,000 of annual rental | | 1 % on the residue over RM 1,000 000 of annual rental | Minimum Fee: As above, but may be subject to a maximum discount of 30% rent and a minimum fee of RM 300 per case.
5. Fee for mass valuation services for local authorities.
| RM 45 per holding for the first 30,000 holdings | | RM 40 per holding for the next 20,000 holdings | | RM 35 per holding for the balance | Minimum Fee: As above, but may be subject to a maximum discount of 30%.
The above fee is inclusive of all costs, except for the additional claims for attendance at objection meetings and judical hearings.
6. Update ValuationFor all update valuations carried out under the Malaysian Valuation Standard 8, the fee payable shall be at a minimum of 15% of the Scale Fees or RM200 per case whichever is higher.
7. RevaluationsFor revaluations carried out under the Malaysian Valuation Standard, the fee payable shall be at a minimum of 30% of the Scale Fees or RM300 per case whichever is higher.
8. Retrospective ValuationsFor retrospective valuations:Fees up to ten times the scale fees may be charged, depending on negotiations with the client.However, such valuations shall not apply to land acquisition valuations.Such valuations must be retrospective to at least 5 years from the current date.
9. Additional Claims.In addition to the fees stated in (1) to (8) claims may be made for:
(a) the cost of printing, plans, copies of documents, lithography travelling and other expenses actually incurred;
(b) 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;
(c) a fee of RM 200 per hour or RM 1000 per working day of 8 hours for giving evidence before judicial bodies.
(d) additional fees can be charged to the client for additional works done in preparation for negotiations and court attendance.
Note:
(1) The fees stated in items 9(b) and 9( c) 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 fee of RM 800 is chargeable if the meeting or judicial appearance is outside the location of the practice.
(2) The claims and fees stated in item 9(a) to 9(d) with respect to land acquisition valuations shall not be claimed against the land administrator.
B. PROPERTY MANAGEMENT
An annual fee based on :
| 15.0°/0 of the gross annual rent on the first RM30,000 | | 13.0°/0 of the gross annual rent on the residue up to RM 100,000 | | 2.0°/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 accounted for or both in the course of management.Minimum fee: As above but may be subject to a maximum discount of 30% and
a minimum fee of RM50 per month.
ADDITIONAL CLAIMS
In addition to the above, claims may be made for
(a) the cost of printing, plans, copies of documents, lithography, travelling and other expenses actually incurred;
(b) 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;
(c) a fee of RM 200 per hour or RM 1,000 per working day of 8 hours for giving evidence before judicial bodies.
Note:
The fees stated in items (b) and (c) 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.
C. ESTATE AGENCY
1. Sale or Purchase
(a) Land and Buildings
- (i) 2.75°10 on the first RM 500,000
- (ii) 2 % on the residue over RM 500,000
(b) Chattels including Plant and Machinery - 10 % of the proceeds
Minimum fee: As above but may be subject to a maximum discount of 30% and the minimum fee shall be RM1.,OOO per case. The above scale applies to any sale or purchase by way of private treaty, tender or any other mode of disposal or acquisition.
For Sales and Marketing of projects by registered estate agents the fees is to be agreed between the estate agent and the client.
The above scale of fees shall not apply to the sale of foreign properties in Malaysia or sales of Malaysian properties in foreign countries.
2. Lettings
| Duration of Tenancy | Maximum (Fee equivalent to) | | Up to 3 years | 1.25 months gross rental | | Exceeding 3 years up to 4 years | 1.50 months gross rental | | Exceeding 4 years up to 5 years | 1.75 months gross rental | | Exceeding 5 years | 1.75 months gross rental | | Exceeding 5 years (without option for renewal) | 1.75 months gross rental | | Exceeding 5 years (with option for renewal) | 1.75 months gross rental plus 0.25 months rental for every additional year |
Minimum fee: As above, but may be subject to a maximum discount of 30 % or a minimum fee of 1 month rental.
For tenancies less than one year, the fee may be calculated on a pro rata basis.
The above scale shall not apply to serviced offices/apartments or any other premises of similar nature.
3. Rent Reviews
50% of the fees chargeable under lettings
4. Additional Claims
In addition to the fees stated in items 1 to 3, claims may be made for
(a) the cost of printing, plans, copies of documents, lithography, travelling (only where the distance between the estate agent's office and the property is more than 40 km) and other expenses actually incurred;
(b) the cost of media advertisements, signboards, brochures and other promotional material.Note: The above additional claims may not be incurred by the registered estate agent without prior concurrence of the client.
Effective: 5th July 2002
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