13 November 2024
With a growing number of consumer-led property management models, such as resident management companies (RMCs) and right-to-manage (RTM), residents have more say in how their communities are being cared for.
Paul Atkinson, Director of Portfolio & Growth at The FirstPort Group, has over 20 years of experience in property management. He believes that while the industry is evolving towards more consumer-led models, the role of an experienced property manager is critical for both residents and clients in ensuring developments are managed effectively and compliantly.
The rise of resident-managed developments
Legislative changes within the property industry have shifted the dynamic towards resident-led management, driving an increase in RMCs.
Paul explains: “Legislative reform is set to change the relationship we have with customers. Customers are now next to us in the driving seat, co-pilots so to speak, and all parties responsible for managing the development need to focus on developing a collaborative approach, based on sharing expertise and good practice so that there is more collective responsibility for managing a development.
“Changes in legislation and regulation, especially around building safety, biodiversity net gain, and how we manage complex heat networks, sees those stepping into the role of an RMC Director facing into an increasingly challenging environment. They, and developers, are looking to the property management company for guidance to navigate the complex requirements of the role.
“We are noticing more clients utilising the expertise that The FirstPort Group have available.”
The value of professional property management
Managing a development requires not only an understanding of the property itself but also the legal, financial, and health and safety obligations that come with it. “The biggest challenge for RMC Directors, who are quite often residents in a voluntary role, is understanding the scale of their responsibilities,” says Paul.
He adds: “Many are not industry qualified to navigate the complexities that they have to face into, which is why it’s crucial to have a property management company in place who can guide them, ensure compliance, and help mitigate risk.”
The FirstPort Group is one of the largest providers of property management services for RMCs, which means we can invest and offer a comprehensive range of support – from a dedicated fire safety team to experts in mechanical engineering who understand complex heating systems and the increasing range of equipment being installed on developments.
Paul says: “It can be overwhelming for Resident Directors to navigate the ever changing, often conflicting, statutory and regulatory minefield that impacts leasehold and freehold living. That’s why we have introduced specialists in our account management team who work with our developer and RMC clients to support them.
“Having regional teams means that we have local property managers that live and work in the areas they manage, who understand the specific needs of the developments in their communities. This ensures we’re not just seen as a big business – our people are on the ground, engaging directly with residents.”
While older properties often won’t have the same communal facilities, maintaining the fabric of a building, which may have key historical considerations, also requires expert care.
The future of resident-managed developments
As the industry continues to shift towards more resident-managed developments, Paul says property managers will need to adapt to changing expectations and technologies. He explained: “We are in a consumer-led industry and that’s only going to grow. This means we always need to be looking at how we can improve the delivery of our services.”
The FirstPort Group has embraced this with its upgraded customer portal, which allows residents to track communications, access important documents, and stay informed about what’s happening in their development. However, Paul acknowledges that not all residents are comfortable with digital solutions. “We need to ensure we continue to engage with all of our customers, including those who may not be as tech-savvy,” he says. “It’s about finding a balance between offering modern, digital solutions and maintaining the personal touch that residents value.”
Looking ahead, Paul predicts that the trend of resident-led management will only continue to grow, with RMCs playing an increasingly prominent role in both leasehold and freehold estates. He explains: “The future of the industry will require property management companies and RMC Directors to work together closely to ensure the best outcomes.
“It’s a partnership. By working collaboratively, we can help our Resident Directors to navigate the complexities of managing a development while ensuring that residents’ homes are safe, compliant, and well-maintained.”
If you’d like to find out more about the range of residential property management services we provide to clients, click here to contact us.
Note: this article was originally published in Flat Living.
