Around the Block: Fresh optimism among residential property managers

Spring was in the air at the recent Irish Property and Facility Managers annual lunch. The attendance by 255 representatives from the world of property management in Dublin’s Shelbourne Hotel was up on recent years, signalling a fresh optimism among members.

The future of the sector received an endorsement when the first four graduates of the IPFMA’s new DIT accredited higher certificate in property and facilities management were honoured at the event.

Brave souls indeed, hopefully they will bring their expertise to bear when they launch themselves on a market that requires more regulation than ever before.

According to association chairman Vincent Hickey, growth in commercial property management has remained stagnant, but the residential property management sector is moving thanks to owner-management companies (OMCs) appointing management agencies that are compliant with the property regulator.

Of course many OMCs are paying the costly price now for the cavalier attitude taken by new developments to prudent property management during the boom years.