Set up regulatory body to manage MCSTs

Looking at recent media reports, home owners appear glad that the authorities are carrying out another public consultation in an effort to better understand the short-term accommodations industry.

It is a bit disappointing, though, that there was no mention of tighter regulation of managing agents and the Management Corporation Strata Title (MCST).

There is a need for a regulatory body to ensure that the industry has a standard code of practice - something which is lacking at the moment.

In view of the influx of foreigners working and staying here, the role of these entities are important andthey need to be educated and updated on policy changes.

Right now, many of them adopt practices based on their own thinking, understanding and liking.

I hope the Ministry of National Development will seriously look into having an independent regulatory body rather than let the industry manage itself.

David Soh Poh Huat