THE PROPERTY MANAGEMENT PROFESSION IN SINGAPORE - CRITIQUE

Abstract

This study was undertaken because the property management profession in Singapore is being plagued with many problems and yet very little attention has been focused on its development. An opinion survey carried out helped to gain a better insight into the layman's view of property management. The profession suffers from a lack of recognition; the public does not appreciate the importance of good property management. There is an absence of legislative control over the practice of property management. Many unqualified practitioners exist. Serious undercutting of management fees takes place between qualified and unqualified firms alike. As a result, the level of professionalism in the service provided is suspect. There is also no distinct professional entity as in a guild of property managers. These ills form a vicious chain which will perpetuate if no remedial actions are taken. The profession has only intermittently pleaded for the Government to intervene so as to protect the standards of property management. This work however tries to show that governmental intervention will be unlikely in the near future and the continued reliance on this mode of redress is futile. Instead, the profession need to examine itself and take positive actions to abate the situation. Remedial programmes need to be instituted within its three components - the practice, the professional body and the university - and their close co-ordination and co-operation are necessary. The road to recovery is arduous. No transformation will take place unless a comprehensive plan is implemented and pursued by a task force ideally comprising dedicated representatives from all the three parties. The university stands in an advantageous position for some major programmes to be launched through it. This will cause a ripple effect which will strenghten the practice and the professional body. Programmes must be aimed at improving the standards of practice, creating a stronger entity and publicising and marketing the importance of good property management. There is optimism for a better age of property management in Singapore. The fundamental issue is that it is time for the profession to act for itself to alleviate its own problems.