Tech solutions needed to improve property management
Tech solutions needed to improve property management
Conflicts between residents living in apartment buildings and management companies have become increasingly common because of ineffective and poor management.Speaking at a forum held on October 30 in HCM City, architect Le Anh Duc said that many management companies of apartment buildings where he has lived "had to change because of their (poor) quality".
Duc said that residents want to be aware of the fee collections and expenditures of their building’s management company and what the company will do to ensure technical safety, including regular checks of electricity and water systems.
"When residents see that management is effective and they are kept updated of the company's financial report, conflicts between them will not occur," he added.
Nguyen Tien Dung, CEO of Saigon Vista Corporation, said: “The conflict occurs because management companies have failed to meet residents’ expectations about service quality that the companies pledged to maintain."
The behaviour and attitude of management company staff also cause conflicts, Dung said, adding that staff have been trained to obtain certain standards in service.
Companies should use technological solutions such as apps and software to avoid conflicts, he added.
Additional values
Independent consultant Su Ngoc Khuong, a counselor for Shark Tank Viet Nam TV show which helps start-ups with training and mentorships, and former director of the national investment team at Savills Vietnam, said: "Good management services help raise additional values for buildings. Apartment buyers or investors do not want to buy when they know that the quality of management is not good."
Many people will choose to sell their apartments and move elsewhere if management services are poor, he added.
Dung agreed, saying that apartment buyers want to eventually sell at a higher price than they originally paid. The price depends on the building's quality, he said, adding that buildings often degrade with time. To avoid rapid decline, management companies must regularly maintain and repair problems.
Technological solutions can assist management, such as warnings about problems that need to be addressed quickly.
Khuong said that many real estate management companies in other countries use tech solutions such as the Internet of Things to connect with apartments or offices in smart homes or buildings.
However, in Viet Nam, many apartments and offices are not smart homes, so management companies cannot use these technologies, he added.
Le Hoang Chau, chairman of the HCM City Real Estate Association, noted that domestic real estate management companies have advantages that foreign companies lack, and should focus on these advantages and the two main goals of ensuring safety and a good living space for residents.
