Property management began over a century ago as hands-on caretaking of buildings. Today, managing agents like Encore are responsible for the upkeep of systems, spaces and amenities that help communities thrive. While caring for physical spaces remains vital, property management now encompasses so much more.
Encore was founded over 20 years ago, and the pace of change during that time has been remarkable. For those who experienced property management in the early 2000s compared to today, the role may seem almost unrecognisable. New legislation, advancing technologies, changing ways of working, and growing expectations from residents have all transformed what it means to be a professional managing agent.
Here are seven ways our experts have seen property management evolve:
1. Building and fire safety is now central to everything we do
Changes to fire safety legislation have been a constant throughout Encore's existence, but became significantly more extensive following the tragic events at Grenfell Tower in 2017.
"This, quite rightly, put an enhanced focus on the safety of additional elements that hadn't really been considered before outside of the construction industry," explains Rob Bingham, Regional Director of our Cambridge branch. "Most managing agents needed to add additional competencies to their list of disciplines".
Property and estate managers now require extensive knowledge in building safety. As Nick Archer, Associate Director of HR at Encore, adds: "With the change in legislation around building and fire safety, companies have needed to consider bringing in experts to help support and advise on these key areas. This is all additional knowledge and professionalism that the industry didn't see or have in recent history".
The industry-wide emphasis on building safety has also transformed the role of on-site staff, as Jason Grieve, Head of Site Operations, explains: "On-site concierge, porter and caretaking roles were often seen as a luxury in past years. Now, changes in safety regulations have seen the teams delivering statutory checks, moving them from value-added to cost-saving".
2. Employee wellbeing matters more than ever
In the past, the property industry was often guilty of simply offering more money to retain people. Now, employees rightly want more than just financial rewards.
"That's why at Encore we not only focus on financial wellbeing through competitive remuneration, but also personal mental and physical health. That saw us awarded with ARMA's first-ever Wellbeing Champion title, and allowed us to drive our retention rates over 90% for employees who have been here over 12 months," says Nick.
3. Specialist teams deliver better results
Property management has always required multiple skills, which is one reason why the job remains varied and exciting. However, as Rob points out: "More so in recent years, property and estate managers are expected to be able to advise competently on accounts, mechanical and electrical systems and legal issues, both from leasehold and company law".
Modern property management requires a team of specialists working together. As Nick explains, property managers can no longer do it all themselves: "Strong health and safety, legal and accounts teams, which are process-driven and well-structured, are invaluable to the property managers to support them". As the industry advances its professionalism, qualifications and formal study have become integral. "Institute of Residential Property Management (IRPM) qualifications have become an expectation in the industry whereas before they were a nice to have," says Nick. "Increasingly we are looking for people who can offer more than just the basics of property management due to the diverse responsibilities they have. RICS, IWFM and Health and Safety qualifications are among the many types of qualifications we offer as a company to help diversify knowledge".
4. More people understand what property management involves
"Property management has changed so much since I started working in the sector, firstly in that it's more widely known," explains Claire Hamilton, Regional Director of our London branch.
Nick reflects this sentiment, adding that knowledge of property management has often been driven by an increasing understanding of leasehold law: "This can be really difficult with property managers seeing the work they do being challenged, but it has also led to people understanding that picking the cheapest managing agent is not always the most sensible way to go".
"Having a company that has good communication, great customer service, is transparent with its finances and is great with money is worth paying for. And residents clued-up on leasehold law are realising this. This challenges companies to be better, to offer more and be more professional to win business, all of which we've been well-placed at Encore to deliver thanks to our commitment to delivering with the highest standards of professionalism".
5. What we expect from our homes is evolving
Just as expectations of managing agents have changed, the expectations of the spaces and amenities they manage have changed to. Jason explains that what we want from our homes now demands more complex residential developments. For site staff in particular, this means more specialist skills are needed:
"Over the years site-based roles have evolved, commonly with the evolution of the porter and concierge roles. With ever increasing demands for safety, security and luxury these positions have continued to provide more and more services for their residents: whether that's with leisure facilities, agile working or entertaining spaces all requiring the on-site team to be ever more present".
6. We're helping to build stronger communities
Good property management is vital in creating vibrant, welcoming, accessible places where people can be proud to live. Today, managing agents are much more involved in community initiatives. In the last year, Encore has been involved in organising events from parkland openings to Easter egg hunts and outdoor theatre. As Jason adds, in apartment block developments, site staff often play a key role in developing a sense of community:
"Concierge or security teams will see far more of our residents than anyone. For some, this could be their only interaction when they live alone, so developing and fostering community engagement is essential".
"On a more formal scale, and where applicable according to agreed, contracted services, managing agents will work on planned community engagement strategies. These can be quite low level where a concierge might arrange a book club, through to much larger events with summer parties, for example. This is relatively new in the industry, and all with one sole purpose: bringing the residents together and creating that real sense of community".
7. Technology is transforming how we work
"Transparency and engaging with residents is incredibly important in property management. We've recently released our app, Places, which shows how technology can be used to help people understand what estate management is, and what a service charge delivers for them," explains Estate Management Director Dean Clarke.
The transformative effects of new technology stretch further into property management, as Rob explains: "The speed of transactions with clients and contractors have become quicker. Although that can bring challenges, it can also make life easier when you consider outward communication".
Along with that efficiency comes a demand on the managing agent's systems to ensure all information is at the fingertips of property managers, so they can act swiftly and decisively.
Encore has invested heavily into its systems over the years, putting us at the forefront of the industry. Debby Wooding, Associate Director, Operations, says: "Modern technology and cloud computing have allowed us to ensure information only ever needs to be inputted once, and changes don't need to be made in multiple places. It may sound like a small thing but it's crucial for effectiveness in property management".
"Our teams can all rely on the data in front of them, to make informed decisions. That allows for better reporting, and efficiency-savings when it comes to checking compliance across all the estates we work with".
Property management has advanced enormously over the last 20 years, but the pace of change isn't stopping. Most in the industry expect fire and building safety regulations to continue shaping daily responsibilities and workloads for property managers. As Rob explains, "as we have done over the last 10+ years, we will adapt, increase knowledge and resource accordingly".
As the professionalism of our industry continues to evolve, we also expect to see regulation of managing agents come into place. As Jason adds, it's something we would sincerely welcome: "There has been talk for some time regarding managing agent regulation, after all, we are entrusted with looking after people's homes. This is long overdue and is something I am personally looking forward to. It will revalidate the resource, technology and investment (both time and financial), we all commit to this rewarding and challenging industry".
From day one we've committed to professionalism and delivering the highest standards, from both our on-site and office-based teams. We will continue on our mission to be the most professional in the industry. To do that, we'll undoubtedly need to continue to adapt: utilising new technology, leading when new regulations impact our industry, and staying at the forefront of changing community and employee needs.
As Debby says: "I was employee number three at Encore, so I've been here since pretty much 'day one'. From the get-go we've had a positive approach to adopting change and improving how we work, and it's not something we've lost over the years".
