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Proposed framework for two tier management corporation for integrated strata development

An integrated development comprises a group of different owners with different interests, resulting in management issues. Some common properties are not enjoyed or benefitted by all the owners in an integrated development. Thus, the Strata Management Act 2013 (Act 757) introduced a subsidiary manage...

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Main Author: Tan, Wee Vern
Format: Thesis
Language:English
Published: 2022
Subjects:
HD Industries. Land use. Labor
HD28 Management. Industrial Management
Online Access:http://eprints.utm.my/id/eprint/100039/1/TanWeeVernPFABU2022.pdf
http://eprints.utm.my/id/eprint/100039/
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spelling my.utm.1000392023-03-29T06:29:24Z http://eprints.utm.my/id/eprint/100039/ Proposed framework for two tier management corporation for integrated strata development Tan, Wee Vern HD Industries. Land use. Labor HD28 Management. Industrial Management An integrated development comprises a group of different owners with different interests, resulting in management issues. Some common properties are not enjoyed or benefitted by all the owners in an integrated development. Thus, the Strata Management Act 2013 (Act 757) introduced a subsidiary management corporation to manage the designated limited common property. Even though the subsidiary management corporation was introduced into Malaysia legislation in 2013, it has been minimally implemented. Until today, One Mont Kiara is the only development that has successfully established its subsidiary management corporation in Malaysia. Therefore, this raises the research gap on the significance of the formation of the subsidiary management corporation on a stratified property and its efficacy in solving management issues. The reasons for the lack of efficiency of the established subsidiary management corporation are associated with the difficulty in obtaining comprehensive resolutions and the lack of funds in the maintenance account. Nevertheless, the establishment of a subsidiary management corporation is essential for integrated development, to clearly define the boundaries of a limited common property so that the owners can have the exclusive benefit over it. Therefore, the objectives of this research were to investigate the importance of the formation of the subsidiary management corporation, evaluate the enhancements suitable for strata property, and formulate a proposed framework for subsidiary management corporations in managing limited common property. This research employed both theoretical and empirical studies. The theoretical study defined the benefit of the subsidiary management corporation and identified issues that impeded the formation of the subsidiary management corporation; in contrast, the methodology in the empirical study applied a sequential mixed method. Ideas from the relevant authorities and specialists were first obtained for the quantitative data. This was followed by collecting qualitative data, where the relevant authorities with experience in forming and managing subsidiary management corporations were interviewed. Consequently, the quantitative and qualitative findings were integrated and explained by Ostrom's principles under the Common Pool Resources Theory. The results showed that the subsidiary management corporations significantly overcame management problems in the integrated development, and the Collective Action Theory could help encourage the formation of the subsidiary management corporations. Several improvements were proposed in the areas of legislation, regulation, institutional and administration, issues related to subsidiary management corporations, and enhancement to stratified properties. In conclusion, this study is significant in proposing a framework for a subsidiary management corporation's long-term establishment and management, and providing a two-tier management corporation system. 2022 Thesis NonPeerReviewed application/pdf en http://eprints.utm.my/id/eprint/100039/1/TanWeeVernPFABU2022.pdf Tan, Wee Vern (2022) Proposed framework for two tier management corporation for integrated strata development. PhD thesis, Universiti Teknologi Malaysia, Faculty of Built Environment & Surveying. http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:150074
institution Universiti Teknologi Malaysia
building UTM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Malaysia
content_source UTM Institutional Repository
url_provider http://eprints.utm.my/
language English
topic HD Industries. Land use. Labor
HD28 Management. Industrial Management
spellingShingle HD Industries. Land use. Labor
HD28 Management. Industrial Management
Tan, Wee Vern
Proposed framework for two tier management corporation for integrated strata development
description An integrated development comprises a group of different owners with different interests, resulting in management issues. Some common properties are not enjoyed or benefitted by all the owners in an integrated development. Thus, the Strata Management Act 2013 (Act 757) introduced a subsidiary management corporation to manage the designated limited common property. Even though the subsidiary management corporation was introduced into Malaysia legislation in 2013, it has been minimally implemented. Until today, One Mont Kiara is the only development that has successfully established its subsidiary management corporation in Malaysia. Therefore, this raises the research gap on the significance of the formation of the subsidiary management corporation on a stratified property and its efficacy in solving management issues. The reasons for the lack of efficiency of the established subsidiary management corporation are associated with the difficulty in obtaining comprehensive resolutions and the lack of funds in the maintenance account. Nevertheless, the establishment of a subsidiary management corporation is essential for integrated development, to clearly define the boundaries of a limited common property so that the owners can have the exclusive benefit over it. Therefore, the objectives of this research were to investigate the importance of the formation of the subsidiary management corporation, evaluate the enhancements suitable for strata property, and formulate a proposed framework for subsidiary management corporations in managing limited common property. This research employed both theoretical and empirical studies. The theoretical study defined the benefit of the subsidiary management corporation and identified issues that impeded the formation of the subsidiary management corporation; in contrast, the methodology in the empirical study applied a sequential mixed method. Ideas from the relevant authorities and specialists were first obtained for the quantitative data. This was followed by collecting qualitative data, where the relevant authorities with experience in forming and managing subsidiary management corporations were interviewed. Consequently, the quantitative and qualitative findings were integrated and explained by Ostrom's principles under the Common Pool Resources Theory. The results showed that the subsidiary management corporations significantly overcame management problems in the integrated development, and the Collective Action Theory could help encourage the formation of the subsidiary management corporations. Several improvements were proposed in the areas of legislation, regulation, institutional and administration, issues related to subsidiary management corporations, and enhancement to stratified properties. In conclusion, this study is significant in proposing a framework for a subsidiary management corporation's long-term establishment and management, and providing a two-tier management corporation system.
format Thesis
author Tan, Wee Vern
author_facet Tan, Wee Vern
author_sort Tan, Wee Vern
title Proposed framework for two tier management corporation for integrated strata development
title_short Proposed framework for two tier management corporation for integrated strata development
title_full Proposed framework for two tier management corporation for integrated strata development
title_fullStr Proposed framework for two tier management corporation for integrated strata development
title_full_unstemmed Proposed framework for two tier management corporation for integrated strata development
title_sort proposed framework for two tier management corporation for integrated strata development
publishDate 2022
url http://eprints.utm.my/id/eprint/100039/1/TanWeeVernPFABU2022.pdf
http://eprints.utm.my/id/eprint/100039/
http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:150074
_version_ 1762392166322143232
score 13.211869

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