Property Management Industry Licensing Regime
The property management industry licensing regime was implemented starting from 1 August 2020, establishing professional qualifications for the industry and driving the industry to develop towards enhanced quality and professionalism.
All property management companies providing properties in Hong Kong subject to deed of mutual covenant with more than one category of prescribed property management services must hold valid property management licence in accordance with the Property Management Services Ordinance (Cap. 626). A property management company required to be licensed cannot act as a property management company if it does not possess a valid property management company licence. Contravention is liable on conviction to a maximum fine of $500,000 and imprisonment for two years.
Property management practitioners serving managerial or supervisory roles in such property management companies to provide property management services, must also hold valid property management licence. The first three years (i.e. from 1 August 2020 to 31 July 2023) after the implementation of the licensing regime is a transitional period. During the transitional period, anyone who does not meet the criteria for academic and/or professional qualifications but possesses the specified work experience may apply for a provisional property management practitioner licence, and upon completion of the Property Management Services Authority Specified Course within the validity of the provisional licence, they may then apply for formal property management practitioner licence without the academic and/or professional qualifications required. There is no licence renewal mechanism for the provisional property management practitioner licence.