Scale of Fees

Scale of Fees

1. VALUATION

1. Fees payable by the Land Administrator under the Land Acquisition Act 1960.

 

For awards greater than RM1,000,000 the fee shall be a minimum of RM3,500 plus the fee based on the following rate:-

 

The fees payable shall be based on the amount awarded by the District Land Administrator. The fees shall be payable upon the submission by the person claiming compensation of a valuation report prepared by a registered valuer or appraiser in accordance with the guidelines issued by the Board for the valuation report. The fees do not include disbursements or fees for work done in preparation for negotiations and court attendance.

2. Fee for submission to Securities Commission and the Central Bank Of Malaysia and plant and machinery valuation services.

 

Minimum Fee :
As above, subject to a minimum fee of RM2,000 per property.

3. Fee for other capital valuation/rating valuation services based on an “Improved Value” basis.

 

Minimum Fee :
As above, subject to a minimum fee of RM400 per property.

4. Fee for rental and rating valuation services.

 

Minimum Fee :
As above, subject to a minimum fee of RM400 per property.

5. Fee for mass valuation services for local authorities.

 

The above fee is inclusive of all costs, except for the additional claims for attendance at objection meetings and judicial hearings.

• Fee for mass valuation services for local authorities.

For all update valuations carried out under the Malaysian Valuation Standards published by the Board, the fee payable shall be at a minimum of 15% of the appropriate scale of fees or RM400 per property whichever is higher.

• Fee for valuations

For revaluations carried out under the Malaysian Valuation Standards published by the Board, the fee payable shall be at a minimum of 30% of the appropriate scale of fees or RM400 per property, whichever is higher.

• Fee for retrospective valuations

Fees up to ten times the scale fees may be charged, depending on negotiations with the client.

However, such valuations shall not apply to land acquisition valuations.

Such valuations shall be retrospective to at least 5 years from the current date.

6. Additional Claims.

In addition to the fees stated in 1 to 5C, claims may be made for -

1. the cost of printing, plans, copies of documents, lithography, travelling and other expenses actually incurred;
2. a fee of RM150 per hour of RM800 per working day of 8 hours for negotiations, attendance at meetings with solicitors, consultants or authorities;
3. a fee of RM200 per hour or RM1,000 per working day of 8 hours for giving evidence before judicial bodies.
4. additional works done in preparation for negotiations and court attendance.

Note :

1. The fees stated in items 6(a) and 6(d) are chargeable for actual appearance at meetings or before judicial bodies. In the case of postponements, adjournments etc, (where less than 24 hours notice is given) a minimum fee of RM400 is chargeable if the meeting or judicial appearance is in the same town/city as the location of the practice and a minimum fee of RM800 is chargeable if the meeting or judicial appearance is outside the location of the practice.
2. The claims and fees stated in items 6(a) to 6(d) with respect to land acquisition valuations shall not be claimed against the Land Administrator.

 

2. PROPERTY MANAGEMENT

An annual fee based on :

 

*The fee is applicable to each holding. The expression ‘holding’ as used here has the same meaning as defined in Section 2 of the Local Government Act 1976.

The Expression “gross annual rent” means the rents reserved or deemed to be reserved by the lease or lettings plus any incidental receipts collected or accounted for or both in the course of management.

Minimum Fee :
As above, subject to a minimum fee of RM50 per month.

ADDITIONAL CLAIMS

In addition to the above, claims may be made for –

1. the cost of printing, plans, copies of documents, lithography, travelling and other expenses actually incurred;
2. a fee of RM150 per hour or RM800 per working day of 8 hours for negotiations, attendance at meetings with solicitors, consultants or authorities;
3. a fee of RM200 per hour or RM1,000 per working day of 8 hours for giving evidence before judicial bodies.

Note :

The fees stated in items (b) and (c) are chargeable for actual appearance at meetings or before judicial bodies. In the case of postponements, adjournments, etc. (where less than 24 hours notice is given), a minimum fee of RM400 is chargeable if the meeting or judicial appearance is in the same town/city as the location of the practice and a minimum fee of RM800 is chargeable if the meeting or judicial appearance is outside the location of the practice.

 

3. ESTATE AGENCY

1. Sale or Purchase

1. Land and Buildings

Maximum fee of 3%

2. Fees for other services such as joint venture, sale of company, property swaps, etc.

Maximum fee of 3%

3. Chattel including Plant and Machinery 10% of proceeds

Minimum Fee :
As above, subject to a minimum fee shall be RM1,000 per property.

The above scale applies to any sale or purchase by way of private treaty, tender or any other mode of disposal or acquisition.

For sale and marketing of projects by registered estate agents, the fees is to be agreed between the estate agent and client.

The above scale of fees shall not apply to the sale of foreign properties in Malaysia or sale of Malaysian properties in foreign countries.

 

2. LETTINGS

 

Minimum Fee :
As above, subject to a minimum fee of 1 month rental.

For tenancies less than one year, the fee may be calculated on a pro rata basis.

The above scale shall not apply to serviced offices or apartments or any other premises of a similar nature.

 

3. Rent Reviews

50% of the fees chargeable under lettings.

 

4. Additional Claims

In addition to the fees stated in items 1 to 3, claims may be made for –

1. the cost of printing, plans, copies of documents, lithography, travelling (only where the distance between the estate agents’ office and the property is more than 40 km) and other expenses actually incurred;
2. the cost of media advertisements, signboards, brochures and other promotional material.

Note :

The above additional claims may not be incurred by the registered estate agent without prior concurrence of the client.