20180319 Amendment to VAEP Act, 1981

20180319 (Mon) Amendment to VAEP Act 1981

There are some interesting things in the amended NEW Valuers, Appraisers, Estate Agents and Property Managers Act, 1981 (amended 2017).

Updated write up on amendment to VAEP Act, 1981 during end of 2017.


5 key points are:

1. Better definition of EAP as inside the Section, not just under Interpretation (S.2)

2. EAP includes tenancy administration (rental collection, payment of outgoings, arrangement for minor repairs)

3. Not allowing “Consultant” be used by others in EAP

4. Negotiator has a firm position to assist the REA

5. Foreigners are now allowed registration if qualified

Tomorrow will be on Property Managers.

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