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Public lack trust in property managers, says new report

Technology can help communication with residents but confidence in property managers is at low ebb after Grenfell and cladding scandal.

The Negotiator

A White Paper from the Institute of Residential Property Management (IRPM) lays bare the lack of public trust in property management professionals.

A 2021 YesHomebuyers research report revealed that the only professionals that the UK public considers less trustworthy than property agents are politicians – and not much has changed since.

The Grenfell Tower fire and the pandemic had both impacted heavily on the sector with a lack of communication building up distrust.

But those two events have also been responsible for a seismic shift in property management, moving the profession towards a stronger focus on customers and technology.

SERVICE CHARGES

Issues surrounding service charges and the way they are communicated remain the biggest bugbear for residents and there is growing concern that if these issues are not tackled by the profession in a standardised way then government will intervene.

New technology including the Internet of Things (IOT) can optimise the way data is shared and create apps to deliver information.”

IOT can also be used in combination with artificial intelligence and facial and voice recognition to predict customer movements and preferences, so that concierge and other staff can anticipate resident’s needs.

QR codes could allow residents to access information about their homes, such as the building’s fire risk assessment (FRA). But as well as the FRA they could also receive alerts when fire risk assessors are in the building, fire doors are being inspected and the like.

“Instead of calling to ask where they can find a copy of their FRA, the annual accounts or the latest service charge notice, residents only need speak to their managing agent when they have an issue that needs to be resolved by an expert,” the Paper says.

But the white paper stresses “they must work for the consumer, not just for the creator of the technology”.

“The interface must be kept simple. Customers don’t always want to proactively engage with you, but they need access to the information when they do want it.”

August 11, 2022

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