Why regulation of property management must remain with Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEA)

PROPERTY management is a recognised profession that is well regulated in this country and in many others that value professionalism.

Property managers manage the assets of others and are fully accountable, both fiscally and fiduciary. Asset owners who choose to manage their properties by employing staff can certainly do so. However, these individuals are employees. The employer, who sets the criteria for hiring, bears responsibility for fiscal and fiduciary matters, not the employee. Thus, the employee does not take any responsibility for the fiscal and fiduciary aspects, as these are borne by the employer, the asset owner.