Property Management Found to Be "Plagued" With Problems

Beijing plans to draft new regulations to standardize the property management market, a top government official said on Tuesday.

More rules will be launched in the future to regulate charges and services of property management companies and to introduce market competition into the sector, said Wang Guangtao, Beijing's vice-mayor, in the 30th session of the Standing Committee of the 11th Beijing Municipal People's Congress.

According to a Beijing government survey, 63 percent of the city's 3,127 residential communities had introduced property management service system to residents by the end of August.

The system aims to provide basic community services to residents including housing maintenance and equipment repair, community environmental sanitation, gardening, security and fire prevention.

Beijing has implemented legislation including the Beijing Residential Community Management Regulation to oversee the performance of property management companies, according to Wang.

Wang delivered a report on improving property management services at the two-day session which concluded on Tuesday.

Real estate developers run most of Beijing's property management companies and face little competition, said Meng Qiao of the Urban Construction and Environmental Protection Committee of the Beijing Municipal People's Congress, the city's top legislative body.

"The property management market has long been plagued with problems such as poor services and high charges, making individual buyers easy prey," Meng said.

Analysts have pinpointed these issues as the major hurdles in China's budding private housing market as Beijing phases out its decades-long welfare-housing program.

Complaints about housing scams and poor property management services have increased steadily over the last few years, said officials from the Beijing Consumers' Association.

As a fledgling business, the property management sector has greatly improved people's living conditions but it requires further development and regulation, Meng said.

The establishments of overall business standards will help renew the concept of property management among the Chinese and better protect the interests of investors, especially small ones, Meng said.

(China Daily October 18, 2001)



In This Series

Residential Prices Keep Moving up

China Bids Farewell to Era of Housing Shortages

International Aid Goes to Harbin Housing Project

Housing Stages a Comeback

Real Estate Prices Up in Major Chinese Cities

More Low-Middle Income Housing Announced

More Chances to Own a Home

Pricing System for Real Estate Industry Regulated

Beijing Regulates Pricing System for Real Estate Industry

More Efforts to Restore Building Sector Order

Housing Market Sustains Growth

New Law for Housing Sector

Ministry Strives to Increase Residents' Average Living Space

Property Market to Boom

Individuals Dominate Housing Market

Housing Prices Grow in City

Tianjin Reports Rapid Growth in Individual Housing Credit

New Chinese Consumption Pattern

Reforms Boost Housing Sector

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