On the Property Management Services Ordinance of Hong Kong: concerns and implications

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Philip Wong ◽  
Joseph Lai
Keyword(s):  
Hong Kong ◽  
Common Law ◽  
Self Regulation ◽  
Policy Formulation ◽  
Property Management ◽  
Content Type ◽  
Freedom Of Contract ◽  
The United Kingdom ◽  
Potential Problems ◽  
Management Services

PurposeThis paper aims to examine the concerns and implications of the recently enacted Property Management Services Ordinance (Cap. 626) (PMSO) of Hong Kong.Design/methodology/approachA review was undertaken to identify the characteristics of the property management-related legislation of common law jurisdictions similar to Hong Kong, which include Australia, Canada and the United Kingdom. Then, the development of the property management-related ordinances in Hong Kong and the key features of the PMSO were examined. Finally, a case study was conducted to demonstrate the potential problems of the PMSO.FindingsThere are various kinds of legislative controls on property management services in the above common law jurisdictions. The PMSO, which is the first to regulate property management services providers through a licencing system and introduce control on training and professional development, imposes limits on freedom of contract and self-regulation of professionals. Potential problems with the implementation of the PMSO are also revealed.Research limitations/implicationsThis research analyses four common law jurisdictions. Property management services contracts in these jurisdictions are subject to governance by their case laws and market operations.Practical implicationsBy virtue of the new licencing system of the PMSO, property management services contracts in Hong Kong become a new kind of specific contracts.Originality/valueThis paper illustrates the relationship between freedom of contract and public benefit. It contributes knowledge to the area of government policy formulation in property management.

scholarly journals The value of property management services: an experiment

2014 ◽  
Vol 32 (3) ◽  
pp. 213-223 ◽  
Author(s):  
Jinhuan Li ◽  
Paavo Monkkonen
Keyword(s):  
Survey Methodology ◽  
Residential Buildings ◽  
Property Management ◽  
Real Estate Industry ◽  
Content Type ◽  
The Real Estate ◽  
Company Value ◽  
Residential Properties ◽  
The Impact ◽  
Management Services

Purpose – Assessing the value of property management services is challenging because of collinearity between property quality and the quality of property management companies. In order to overcome this challenge and isolate the impact of property management services, the purpose of this paper is to use an experimental approach inspired by work in labor economics (Bertrand and Mullainathan, 2004) to measure the value of property management services for residential properties in Hong Kong. Design/methodology/approach – The authors surveyed over 150 experts in the real estate industry and asked them to estimate the value of five hypothetical properties. In each survey, the authors randomly assign different property management companies, which we have ranked by levels of quality, to the properties. In this way the authors were able to test whether property management services significantly impact property prices and whether this impact varies across types of residential buildings. Findings – Results show that property management does add value, especially to older and more dilapidated properties. Practical implications – Findings suggest that there is money to be made by high-quality companies providing services for lower quality buildings. Originality/value – The experimental survey methodology applied in this paper provides an innovative way to measure company value.

Reform of Charity Law in Hong Kong and Australia: What Lessons Can Be Learned from the United Kingdom?

2011 ◽  
Vol 6 ◽  
pp. 1-23
Author(s):  
John Kong Shan Ho ◽  
Rohan Bruce Edward Price
Keyword(s):  
Decision Making ◽  
Hong Kong ◽  
United Kingdom ◽  
Judicial Review ◽  
Common Law ◽  
Judicial Decision ◽  
Judicial Decision Making ◽  
Government Department ◽  
The United Kingdom ◽  
Charity Commission

AbstractSince 2001, a number of common law jurisdictions have initiated reforms to their charity law and the United Kingdom has taken the lead. This article examines what Hong Kong and Australia can learn from the United Kingdom in reforming their own outdated and fragmented charity laws. It is contended that the lessons and experiences of the United Kingdom provide good insights for Hong Kong and Australia as each jurisdiction anticipates implementing a broadly similar regime to the United Kingdom's to modernize regulation of their charity sectors. This article contends that there is no need to make a choice between retaining judicial decision-making over charities (inconsistent as it is) and establishing a type of charity commission which makes determining charitable status akin to a decision of a government department. Instead, Hong Kong and Australia can have charity commissions with missions that are sensitive to their own legal terrains but which are subject to judicial review.

The effect of ISO14001 certification in property management on property price

2014 ◽  
Vol 12 (2) ◽  
pp. 97-117 ◽  
Author(s):  
Eddie Chi-man Hui ◽  
Cheuk-kin Tse ◽  
Ka-hung Yu
Keyword(s):  
Hong Kong ◽  
Public Relations ◽  
Housing Price ◽  
Environmental Management System ◽  
Property Management ◽  
Hedonic Price ◽  
Content Type ◽  
Property Price ◽  
The Impact ◽  
A Company

Purpose – As environmental awareness has become increasingly pronounced among various stakeholders such as governments and communities, many businesses start to adopt a more environmental-friendly approach in their operations. Even a service-oriented industry such as property management is no exception. One way to showcase a company's commitment to this cause is to become ISO14001-certified, under which it is required to implement an environmental management system. In light of this, this paper aims to investigate the impact of this certification in property management, along with two other well-known management certifications/awards in ISO9001 and Hong Kong Management Association Quality Award (HKMAQA), on property price. Design/methodology/approach – The hedonic price model was used to determine whether or not there is a relationship between ISO14001 certification (as well as ISO9001 and HKMAQA) and property price, and if so, its impact. Three districts from different parts of Hong Kong, including 17 private residential developments, were covered in this research. Findings – The results show that a flat managed by a company with ISO9001 certification is 8.87 percent higher than another flat managed by a non-ISO9001-certified property management companies (PMC); the adoption of ISO14001 certification appears to help generate a premium of about 3.65 percent in property price for a PMC which has already been ISO9001-certified; and for a company already with both ISO9001/14001 certifications, the obtaining of HKMAQA brings about an extra 15.37 percent in housing price. It can be said that the impact of ISO14001 certification on property value is smaller than that of the other two management standards. Research limitations/implications – The findings do not necessarily suggest that the adoption of ISO14001 (or HKMAMA) generates the exact same premium to a residential property by itself, as two or more components in tandem may create more value than the sum of the parts. Nonetheless, considering that most companies have already been ISO9001-certified prior to considering an ISO14001 certification, they, as separate variables, are inevitably highly correlated which could be an issue when using methods such as hedonic models. This renders the assessment of the impact on property price solely attributed to ISO14001 rather problematic if they are studied together. Practical implications – In the short run, ISO14001 certification, as a public relations tool, might actually help flats within these developments to gain an advantage over the competitors within the district, or at least offset the adverse impact of some of its intrinsic defects in order to stay competitive (for instance, the age issue and the smaller brand name effect due to the development's lack of scope), but not in the long run. Originality/value – The paper has provided some insights regarding the effect of various management standard certifications in property management, from the perspective of the end-users (i.e. homebuyers), rather than from that of those involved in the operations as seen in previous studies. This serves as a reference for developers, property managers, buyers, and users alike.

Investor protection and market liquidity revisited

2015 ◽  
Vol 15 (4) ◽  
pp. 517-529 ◽  
Author(s):  
Xiaofeng Shi ◽  
Michael Dempsey ◽  
Huu Nhan Duong ◽  
Petko S. Kalev
Keyword(s):  
Corporate Governance ◽  
Hong Kong ◽  
Stock Market ◽  
Common Law ◽  
Investor Protection ◽  
Civil Law ◽  
Market Liquidity ◽  
Stock Liquidity ◽  
Content Type ◽  
Practical Implications

Purpose – This paper aims to establish the relation between corporate governance – as represented by investor protection at both the legal and firm levels – and stock market liquidity. Design/methodology/approach – This paper avails of the unique features of Hong Kong- and China-based stocks that are traded on the Hong Kong Stock Exchange so as to test whether differences between “common law” and “civil law” legal environments contribute to differences in stock liquidity. In addition, by constructing an internal corporate governance index score for each firm based on board size, board independence and information on the audit and remuneration committee, we document whether firms with better corporate governance scores have narrower spreads, greater depth and higher trading volumes. Findings – Overall, results provide support for a linkage between corporate governance issues – as investor rights protection at both the environment and firm protection levels – and stock market liquidity. Research limitations/implications – This paper recognizes that investor protection constitutes a single component of the desirability of investing in a firm’s stock. Nevertheless, it does appear to constitute an important component of a stock’s attractiveness. Practical implications – The practical implications are clear, namely, that good corporate governance of firms leads to their attractiveness as investment vehicles (for both the shorter and the longer terms). Social implications – The paper has clear social implications. In particular, the paper serves to highlight that prospects for enduring wealth creation are contingent on the safeguards accorded to the equity ownership of a firm’s stock. Originality/value – The originality lies in taking advantage of the unique features of the Chinese and Hong Kong firms on the Hong Kong Exchange, so as to examine the contrasting influences of common law and civil law on stock liquidity. Thus, the authors allow for the effects of corporate governance across the two legal environments (China and Hong Kong) to be compared and contrasted while maintaining other influences unchanged across Chinese and Hong Kong shares.

scholarly journals Rise in the Freedom of Contract: Development and Enforceability of Forum Selection Clauses

2014 ◽  
Vol 3 (1) ◽  
pp. 43-59
Author(s):  
Shreyan Sengupta ◽  
Anirudhya Dutta
Keyword(s):  
United States ◽  
United States Of America ◽  
Common Law ◽  
The United States ◽  
Law System ◽  
Freedom Of Contract ◽  
The United Kingdom ◽  
Evolution And Development ◽  
The Common ◽  
Judicial Interpretations

Corporations and business houses of the present day require sound redressal mechanisms to mitigate commercial disputes with ease and efficiency. „Forum selection clauses‟ are an easy way out of the turmoil often faced by firms during contractual disputes. Traditionally, the United Kingdom and the United States of America have been very restrictive about enforcing forum selection clauses, however liberalizing it very recently. This article through doctrinal study shows the present situation for forum selection enforcement in India and United States. Courts in India generally have followed the trend as laid down in the United States. There have been diverse judicial interpretations regarding validity of forum selections clauses across the common law system. The article discusses the judicial interpretations which has led to the evolution and development of such contract clauses.

scholarly journals Providing 4P's in Extraordinary Management Services in Whatever Weather Condition

2019 ◽  
Vol 14 (3) ◽  
pp. 104
Author(s):  
Ming Kwan ◽  
Anthony Kong ◽  
David Liu
Keyword(s):  
Hong Kong ◽  
Crisis Management ◽  
Real Life ◽  
Weather Condition ◽  
Property Management ◽  
Super Typhoon ◽  
Adverse Weather Condition ◽  
Adverse Weather ◽  
Management Services

Using the properties management in Park Island, Hong Kong, as a case study, the purpose is to focus on illustrating the significance of providing 4P’s “Proactive, Protective, Professional and Passionate” in extraordinary properties management services in whatever weather condition and on whenever situation. Design/Methodology/Approach - This paper used the Super Typhoon Mangkhut in Sept 2018 in Park Island, Hong Kong, as a case study to illustrate the professionalism exhibited in Park Island, Kai Shing Management Services Limited. The deep thoughts and feelings from residents were quoted and analyzed. Authors conducted twenty-five in-depth semi-structured interviews. Findings - The inspiring real life experiences from respondents who have been living in Park Island were quoted. It has been reflecting the “PARK ISLAND" spirit and demonstrating the significance of professionalism and extraordinary service performance for crisis management after super typhoon Mangkhut signal No. 10 was hoisted. Providing 4P’s “Proactive, Protective, Professional and Passionate” in extraordinary properties management services in whatever weather condition and on whenever situation can gain the trust, respect, appreciation and gratitude from residents to professional property management practitioners. Practical implications – Based on the insights gained from interviewees, providing 4P’s –“Proactive, Protective, Professional and Passionate” in extraordinary properties management services in whatever weather condition and on whenever occasion can exceed residents’ expectations and enhance the reputation of the property management company. Originality/value - This paper urges for the fundamental service philosophy and attitude exhibited from the property management practitioners to deal with crisis management during the adverse weather condition. This paper uses the Super Typhoon Mangkhut in Sept 2018 in Park Island, Hong Kong, as a case study, and the aim of such an episode is to arouse all the properties management companies to strive the best to meet and exceed residents’ needs in whatever weather condition and on whenever occasion.

scholarly journals Human Rights in Hong Kong

1999 ◽  
Vol 29 (1) ◽  
pp. 45
Author(s):  
Robin Cooke
Keyword(s):  
Human Rights ◽  
Hong Kong ◽  
United Kingdom ◽  
New Zealand ◽  
Constitutional Law ◽  
Common Law ◽  
Human Rights Law ◽  
The United Kingdom ◽  
The World ◽  
The Republic

In this address to the UNDR commemorative seminar in April 1998 Lord Cooke speaks of human rights, his current judicial roles and the prospects for a common law of the world. Lord Cooke discusses the importance of human rights law in both substance and implementation. The author reports on the process of implementing constitutional law and human rights in New Zealand, Samoa, the Republic of Fiji, the United Kingdom, and Hong Kong. 

Hong Kong (‘.hk’)

2015 ◽  
Author(s):  
Hong Xue
Keyword(s):  
European Union ◽  
Hong Kong ◽  
United Kingdom ◽  
New Zealand ◽  
Common Law ◽  
The European Union ◽  
Trademark Law ◽  
The United Kingdom

The current trademark law is the Trademarks Ordinance (TMO, Chapter 559) and the Trademarks Rules (Chapter 559A). The TMO is modeled on the trademark laws of the countries of the European Union, in particular, the United Kingdom Trademarks Act 1994. The relevant United Kingdom cases as well as those of other common law countries (such as Australia, New Zealand), although not binding, provide guidance on the interpretation of Hong Kong trademark law. The TMO grants exclusive rights to the owners of registered trademarks.

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