New perspective of condominium management

Abstract

Over the last few decades town management and condominium management have evolved and developed as a professional discipline. Property owners, residents and occupIers expect these housing estates and condominiums to be professionally managed. With globalisation and advancement in technology, it is envisaged that property and facility management will become more important and relevant in future (Lim, 2007). The rise in property values and the cost of facilities and services necessitate an integrated and sophisticated approach to management of these assets. Condominium management, in particular, is developing a new perspective since the last decade. Infonnation about management, rules and regulations governing management can now be obtained from the Internet. Residents and occupiers are getting more knowledgeable and sophisticated. As a result, higher quality services and value added services are expected from the professional managing agents. Surveys were conducted with randomly selected Subsidiary Proprietors and Council Members in private condominiums and renowned developers to determine their opinions on the skills set and tasks which are expected from the Managing Agent. The findings of this study revealed that there are 8 sets of skills required of Managing Agent (MA) in condominium management which have important implications for the future education and training of property managers.