Criteria for Holding a Licence
The criteria for holding a PMC licence are as follows:
1. The PMC must engage at least one licensed PMP (Tier 1) (whether part-time or full-time) who has effective control of the provision of property management services by the PMC; and
2. The PMC must engage a number of full-time licensed PMPs that meets the minimum manning ratios specified by the PMSA.
The minimum manning ratios are:
- at least one licensed PMP (Tier 1) for every 3,000 flats or below; and
- at least one licensed PMP (Tier 2) for every 1,500 flats or below.
Examples of how the minimum manning ratios are applied may be found here.
“Flats” are defined as any premises in a building which are referred to in a deed of mutual covenant whether described therein as a flat or by any other name and whether used as a dwelling, shop, factory, office or for any other purpose, of which the owner, as between himself and owners or occupiers of other parts of the same building, is entitled to the exclusive possession. More information about how the number of flats should be calculated may be found here.
A PMC may choose to engage an equal number of licensed PMP (Tier 1), instead of licensed PMP (Tier 2), to fulfill the minimum manning ratio for licensed PMP (Tier 2). For example, a PMC having a portfolio of properties consisting of 3,000 flats may choose to engage a total of three licensed PMPs (Tier 1) instead of one licensed PMP (Tier 1) and two licensed PMPs (Tier 2).