We have re-examined the relation between the mass of the central black holes in nearby galaxies , M _ { bh } , and the stellar mass of the surrounding spheroid or bulge , M _ { bulge } . For a total of 30 galaxies bulge masses were derived through Jeans equation modeling or adopted from dynamical models in the literature . In stellar mass-to-light ratios the spheroids and bulges span a range of a factor of eight . The bulge masses were related to well-determined black hole masses taken from the literature . With these improved values for M _ { bh } , compared to ( ) , and our redetermination of M _ { bulge } , we find the M _ { bh } - M _ { bulge } relation becomes very tight . We find M _ { bh } \sim M _ { bulge } ^ { 1.12 \pm 0.06 } with an observed scatter of \lesssim 0.30 dex , a fraction of which can be attributed to measurement errors . The scatter in this relation is therefore comparable to the scatter in the relations of M _ { bh } with \sigma and the stellar concentration . These results confirm and refine the work of ( ) . For M _ { bulge } \sim 5 \times 10 ^ { 10 } M _ { \odot } the median black hole mass is 0.14 \% \pm 0.04 \% of the bulge mass .