Property Holding And Letting Of Property Companies in Malaysia

A property holding and letting company is a company that owns, manages and lets out property on behalf of its clients. In Malaysia, these companies are regulated by the Companies Commission of Malaysia (CCM).

To be registered as a property holding and letting company, the company must have a minimum paid-up capital of RM2 million. The company must also appoint a managing agent who is a licensed real estate agent.

The managing agent will be responsible for the day-to-day management of the property, including marketing, leasing and maintenance. The property holding and letting company will receive a commission from the managing agent for their services.

The company must also have a minimum of two directors, who must be Malaysian citizens. One of the directors must be a qualified lawyer, accountant or banker.

The property holding and letting company must submit an annual report to the CCM, detailing the company's financial performance and activities for the year.

The property holding and letting company must also maintain a trust account for the deposit of rental payments from tenants. The company is required to hold the deposit in trust for the tenant and return it to the tenant at the end of the tenancy, less any damages or unpaid rent.

The property holding and