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Article
Publication date: 11 February 2014

Paul Christopher Taylor

Efforts to understand the nature of the demanding world of property managers have tended to focus on quantitative inquiry in areas such as property management portfolio decision…

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Abstract

Purpose

Efforts to understand the nature of the demanding world of property managers have tended to focus on quantitative inquiry in areas such as property management portfolio decision making, without much study of their lived experiences (Levy, 2006). The purpose of this paper is to understand the management challenges and responses of Jamaican property managers in managing the property management organization and real estate assets.

Design/methodology/approach

Semi-structured interviews were used to collect data to explore the nature of the management challenges and responses to them by property managers. Using the case study approach, property managers from eight of Jamaica's largest property management companies, accounting for a large share of the formal commercial and residential property management activity, were profiled. The collected data were then analyzed and the results presented.

Findings

The research results provided support for the assertions that the nature of management challenges and responses reflected the nature or composition of property management portfolios or customers served; the professional success of these property managers was linked to their managerial innovativeness and team orientation; and that property managers utilized work demands and adversities as positive motivators.

Originality/value

Responding to the paucity of qualitative research in the field of property management in small, open economies such as Jamaica, this paper employs the qualitative research paradigm to provide insights into the nature of management challenges experienced by property managers and their responses to those challenges. Review of the literature has unearthed no similar study.

Article
Publication date: 5 July 2011

Muhammad Najib Razali and David Martin Juanil

This paper seeks to identify the manner in which the knowledge management (KM) concept can be implemented in property management companies in Malaysia.

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Abstract

Purpose

This paper seeks to identify the manner in which the knowledge management (KM) concept can be implemented in property management companies in Malaysia.

Design/methodology/approach

The KM strategies for property management companies were designed and then tested among the property management companies in Malaysia. Sixteen companies were involved in this research to provide empirical results of the KM concept implementation in property management organisations.

Findings

The research findings suggest that the KM concept is becoming increasingly important and that the property management companies are practising some of the relevant activities. The findings also integrate the concept of KM and property management activities.

Research limitations/implications

The research is based only on 16 companies registered under the Board of Valuers, Appraisers and Estate Agents, Malaysia, which governs property management activities in Malaysia.

Originality/value

This paper proposes to property management players to put into practice the KM concept within their organisations.

Details

Facilities, vol. 29 no. 9/10
Type: Research Article
ISSN: 0263-2772

Keywords

Article
Publication date: 17 October 2016

Yung Yau and Wai Kin Lau

The purpose of this paper is to investigate the level of disability awareness in the property management industry in Hong Kong.

1295

Abstract

Purpose

The purpose of this paper is to investigate the level of disability awareness in the property management industry in Hong Kong.

Design/methodology/approach

A structured questionnaire survey was conducted on 342 local property management practitioners. The survey was conducted online in the period between 15 September 2014 and 30 November 2014 to collect various information of the respondents such as their backgrounds, different perceptions towards the disabled and disability awareness. In addition, in-depth interviews with two front-line property management personnel were undertaken to provide a more narrative account of the topic.

Findings

The respondents generally recognized the importance of inclusive built environment to persons with disabilities (PWD) and the vital role played by property management in safeguarding the interests of PWD. However, the research found that some misconceptions about disabilities still prevailed in the industry and the interests of PWD have received inadequate consideration in the routine property management tasks performed by the practitioners, reflecting a lack of disability awareness in the local property management industry.

Research limitations/implications

The research findings provide a baseline reference for longitudinal tracking of the disability awareness among property management practitioners in the future.

Practical implications

Drawing on the research findings, this paper made several recommendations for improving disability awareness in Hong Kong’s property management industry. In addition, the research findings can be used for before-and-after analyses when the public authority strives to evaluate the effectiveness of their programmes, training workshops or campaigns of disability awareness promotion in the industry.

Originality/value

The importance of property management in the achievement of inclusive built environment has long been ignored in the literature. This study on disability awareness of property management practitioners is very likely the first of its kind in the world.

Article
Publication date: 20 February 2017

Andrew Carswell

The purpose of this paper is to determine the effect that ownership and management structures have on ability to control operating expenses. For individual investors, intensity of…

Abstract

Purpose

The purpose of this paper is to determine the effect that ownership and management structures have on ability to control operating expenses. For individual investors, intensity of management experience is also explored as a possible explanatory variable for operating expenses. For property management services that are contracted out, the level of the fee is investigated as a possible cause for movements in operating expenses as well. Finally, operating expenses are used as a possible explanatory variable for a property’s lease-up performance during the year.

Design/methodology/approach

The analysis consists of a series of regression models performed on data provided by the 2012 Rental Housing Finance Survey (RHFS) in the USA. The RHFS is a unique data set that covers a wide degree of information on multifamily properties. The RHFS represents 2,260 properties in total, and covers various aspects of the apartment industry, including financing and operational cost measures. Control variables used as independent variables include number of units, year of property acquisition, and age of building.

Findings

Individual ownership and self-management proved to be statistically significant drivers in driving down log operating expenses. Hours spent by individuals performing property management roles on their own properties had a slightly positive association with operating expenses. For professional managers, the fees devoted solely to the manager or management company had a highly significant and positive effect on other operating costs. Finally, when separating out the individual components of operating expenses, only two variables had significant effects on tenant lease-ups: management expenses (positive) and security expenses (negative).

Research limitations/implications

The data set is potentially biased toward those properties with less than 100 units, and thus it would be problematic to assume that these findings are generalizable to the population at large. There are also no geographic coding indicators within the RHFS data set, which eliminates the potential to control for various market factors and rural/urban differences.

Practical implications

The research provides an understanding of some of the basic factors behind increases in operating expenses, which ultimately has implications for performance benchmarks such as net operating income and property market value.

Social implications

The reasonable controlling of operating expenses ultimately has potentially positive implications for low- to moderate-income populations, who would ultimately experience lower rents as a result.

Originality/value

This research represents one of the first known uses of the RHFS database.

Details

Property Management, vol. 35 no. 1
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 4 July 2016

Susanne Balslev Nielsen, Anna-Liisa Sarasoja and Kirsten Ramskov Galamba

Climate adaptation, energy efficiency, sustainable development and green growth are societal challenges for which the Facilities Management (FM) profession can develop solutions…

4971

Abstract

Purpose

Climate adaptation, energy efficiency, sustainable development and green growth are societal challenges for which the Facilities Management (FM) profession can develop solutions and make positive contributions on the organisational level and with societal-level effects. To base the emerging sub-discipline of sustainable facilities management (SFM) on research, an overview of current studies is needed. The purpose of this literature review is to provide exactly this overview.

Design/methodology/approach

This article identifies and examines current research studies on SFM through a comprehensive and systematic literature review. The literature review included screening of 85 identified scientific journals and almost 20,000 articles from the period of 2007-2012. Of the articles reviewed, 151 were identified as key articles and categorised according to topic.

Findings

The literature review indicated that the current research varies in focus, methodology and application of theory, and it was concluded that the current research primary addresses environmental sustainability, whereas the current research which takes an integrated strategic approach to SFM is limited. The article includes lists of reviewed journals and articles to support the further development of SFM in research and practice.

Research limitations/implications

The literature review includes literature from 2007 to 2012, to manage the analytical process within the project period. However, with the current categorisation and the access to the reviewed journals and articles, it is possible to continue with the latest literature.

Practical implications

The article provides an overview of theoretical and practical knowledge which can guide: how to document and measure the performance of building operations in terms of environmental, social and economical impacts? How to improve the sustainability performance of buildings? What are the potentials for and barriers to integrating sustainability into FM on strategic, tactical and operational levels?

Originality/value

The paper presents the most comprehensive literature study on SFM so far, and represents an important knowledge basis which is likely to become a key reference point for pioneers and scholars in the emerging sub-discipline of SFM.

Article
Publication date: 3 February 2012

Job Taiwo Gbadegesin and Olatoye Ojo

Management factors of recalcitrant tenants in residential premises have become central concerns of many private residential property owners in Ibadan metropolis. The purpose of…

Abstract

Purpose

Management factors of recalcitrant tenants in residential premises have become central concerns of many private residential property owners in Ibadan metropolis. The purpose of this paper is to investigate the causes and dimension of the phenomena so as to prevent the loss of rent and encourage investment in rental housing in the city.

Design/methodology/approach

The study elicited data through personal and direct administration of questionnaires on 51 estate surveying and valuation firms. The data collected included companies' profiles, years of property management experience, properties in their management portfolio, tenants' selection, category of recalcitrant tenants, handling techniques and influencing factors.

Findings

Results indicated that act of non‐compliance and adherence to ethics of property management by estate surveyors and valuers (managers) in the area constitutes a major cause of recalcitrant tenants. Also, estate surveyors and valuers disregard some relevant factors while selecting tenants to fill vacancies such as police report, family factor, rental arrears, maintenance culture, personal/family crisis and mental illness/addiction. These, among others, consequently affect the objectives of investing in rental properties in the metropolis.

Practical implications

The study recommends strict compliance to ethics (rules and regulations) put down in the constitution of NIESV (2005). Also estate surveyors and valuers (managers) should be encouraged to attend mandatory continuing professional development (MCPD). Lease/tenancy agreement should be clearly reached, documented and implemented. All transactions in residential property management should be executed at “arm's length” with transparency without bias.

Research limitations/implications

Future research is needed to undertake statistical references through a comprehensive survey of all types of tenant: private/public tenants, commercial properties tenants and agricultural land tenants in Ibadan land.

Originality/value

The study helps to identity categories of recalcitrant tenants in residential properties, the rental residential properties occupied, causes of recalcitrance and treatment approaches of recalcitrant tenants.

Details

Property Management, vol. 30 no. 1
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 1 March 2006

Lawrence Wai‐chung Lai

The purpose of this paper is to theorise on the nature of property management broadly understood as resource management and demonstrate the actual and potential contribution of…

4717

Abstract

Purpose

The purpose of this paper is to theorise on the nature of property management broadly understood as resource management and demonstrate the actual and potential contribution of innovative property management to sustainable development.

Design/methodology/approach

The approach is analytical and backed by real life examples, using concepts of property rights informed by Coasian neo‐institutional economics and Yu's ideas on the Schumpeterian process in innovation.

Findings

There is a fast spread of gated communities in the Pearl River Delta and some private shopping centres provide public facilities and entertainment as a public relation method.

Research limitations/implications

The transformation of negative externalities into positive ones is the crux to achieve win‐win solutions to property management for sustainable development.

Practical implications

A good property manager does not simply perform the role of a passive housekeeper or management fee collector. S/he is, above all, an innovator who applies updated technology and concepts with great sensitivity to the externalities generated by or affecting the resource s/he manages.

Originality/value

This is the first paper that defines for property management a research agenda anchored in Coasian economics and demonstrate the actual and potential contribution of property management.

Details

Property Management, vol. 24 no. 2
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 17 July 2020

Danielle Claire Sanderson and Dustin C. Read

The purpose of this paper is to increase awareness of the value that can be derived from embracing customer service and ensuring tenant satisfaction.

3278

Abstract

Purpose

The purpose of this paper is to increase awareness of the value that can be derived from embracing customer service and ensuring tenant satisfaction.

Design/methodology/approach

This literature review synthesizes the results of research conducted around the world to examine the value proposition of customer-focused property management. The literature was identified through a search of academic journal articles and industry publications, together with the authors' experience of working with industry practitioners. Drawing on these sources, the authors identify five emerging trends that are likely to make customer service an even more critical part of property managers' jobs and propose best practices to help property managers actualize the benefits.

Findings

Three themes emerge from the literature. First, property managers can add significant value to real estate portfolios by delivering high-quality customer service to tenants. Second, emerging trends in the real estate industry are creating new opportunities for property managers to participate in the value creation process. Third, there are a number of steps property managers can take to leverage customer service to benefit the real estate investors they represent.

Practical implications

Real estate investors, and the property managers working on their behalf, can realize the advantages of customer-focused property management by adopting a series of straightforward best practices, which are discussed in the paper.

Social implications

The trends identified and practical steps proposed are likely to be all the more relevant in the aftermath of the Covid-19 pandemic.

Originality/value

This research should increase awareness of customer-focused property management and the mechanisms through which it can affect real estate returns. The ten best practices proposed should help property managers deliver effective service to tenants and achieve the associated financial benefits for investors.

Details

Property Management, vol. 38 no. 5
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 1 December 1994

Graeme Baldwin

Describes research into the present position, involved parties andfuture outlook for property management in Hong Kong. The practice ofproperty management follows traditional…

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Abstract

Describes research into the present position, involved parties and future outlook for property management in Hong Kong. The practice of property management follows traditional styles that can be observed in other developed countries. The property management industry represents a very small, but essential part of the overall property sector. The major executants in Hong Kong are: property management agents in the private sector; statutory bodies responsible for the management of properties owned and developed by the public sector; and participatory building management organizations.

Details

Property Management, vol. 12 no. 4
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 30 May 2019

Erin Hopkins

The purpose of this paper is to uncover the extent to which firms in the apartment property management industry in the USA are promoting green property management services via…

Abstract

Purpose

The purpose of this paper is to uncover the extent to which firms in the apartment property management industry in the USA are promoting green property management services via communication on their websites.

Design/methodology/approach

A content analysis is the main research method for this study. Once all qualifying terms listed on the company website were recorded based on LEED credit and category, the data were synthesized to create a sustainability continuum organizing the firms based on the extent to which they communicate sustainability initiatives on their respective websites.

Findings

The results demonstrate that the majority of the largest 50 apartment management firms in the USA are not communicating any sustainability initiatives on their website. In all, 52 percent of companies have no acknowledgment of sustainability initiatives on their website; 16 percent of companies provide some cursory reference to sustainability initiatives; 16 percent offer some detail on their website; 6 percent contain in-depth detail plus metrics. The remaining 10 percent of firms are providing comprehensive sustainability reporting on their websites.

Practical implications

Property management companies have an immense opportunity to capitalize on showcasing their green building features via company websites. Not only does incorporating environmental sustainability practices support a climate mitigation strategy, marketing these practices can foster consumer satisfaction and a willingness to pay more. With the awareness that opportunity abounds both to mitigate negative environmental externalities and complement financial goals of apartment property management companies, this research sheds light for property management companies and related parties of missed opportunities in the environmental sustainability space.

Originality/value

The analysis presented in this paper is one of the first to the author’s knowledge to explore the degree which property management companies are promoting green real estate management services through website communication.

Details

Property Management, vol. 37 no. 4
Type: Research Article
ISSN: 0263-7472

Keywords

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