See the property management trends for 2024

Overseeing and managing the upkeep or upgrade of sectional title properties is a weighty responsibility scheme executives hold.

Decisions made on these fronts can increase property values and improve residents’ quality of life.

Ensuring that the scheme remains financially sound, well-maintained, and continually improving requires the executive to stay on top of emerging real estate and property management trends.
What new technologies are most viable? How can sustainable building practices be implemented? Have there been compliance updates or regulatory changes? How will this impact current governance documents and levies?

Asking the right questions is crucial for effective scheme executiveship in an ever-evolving landscape.

The latest trends can help to future-proof value for homeowners and investors.

According to Pearl Scheltema, the CEO of Fitzanne Estates, staying informed on the latest property management trends is vital.

“By continually educating yourself on emerging technologies, best practices and changing regulations, you can make better decisions,” said Scheltema.
“This includes evaluating investments, identifying cost and revenue strategies and knowing when to lean on specialised partners.”

• Tech upgrades for efficiency
Scheltema said there has been a major shift in integrating new technology into community operations.

“We are seeing conversions such as smart access control systems with digital access codes that automatically expire. High-definition security cameras with motion sensor alerts to flag any unusual activity,” she said.

“Further, automated lighting paired with occupancy sensors means lights only turn on when needed.”
Upgrades such as these aim to improve security, conserve electricity and create seamless systems for residents and property managers.
Automated lighting ensures safety while avoiding energy waste, thus lowering monthly electricity bills.

Meanwhile, on-site security feeds viewable remotely give managers and scheme executives instant insight if an incident occurs.

“Cloud computing and integrated software systems are also making community management more efficient,” Scheltema said.

“Digitised processes allow for faster response times and transparency.”
Financial dashboards offer real-time expenditure data, while online portals let executives log requests, access documents, and view by-laws digitally.

“With daily tasks and records increasingly going digital, managers can devote more time to personalised service and long-term planning,” Scheltema said.
“Technology upgrades open new possibilities for responsiveness and accountability across the board. Embracing new tech solutions allows communities to elevate living standards.”

• Sustainability becomes standard
With the sustainability revolution happening throughout property management, solar panels, recycled building materials, native landscaping, low-flow plumbing, and electric vehicle (EL) charging stations, once speciality items, are rapidly becoming standard in property development.

Sustainable features can significantly lower a property’s environmental impact and monthly utility bills.

“Solar energy and low-flow fixtures drastically cut down on electricity and water use,” she said.
“Native plants beautify grounds and conserve water.”

These upgrades also meet demand from eco-conscious homeowners and tenants.
Recent surveys found that South Africans choosing a living space list sustainability as a priority.

“Most property management companies now have in-house expertise to assist trusts,” explained Scheltema.
“From waste management procedures to infrastructure improvements, reputable managers stay on top of innovations in this space, while their knowledge will assist in qualifying for incentives, rebates and tax deductions to offset upfront investment.”

• Now is the time to review governing documents
Scheltema further advises that it is the opportune time for scheme executives to review their community’s governing documents and compare them to the latest standards and compliance requirements.
“For sectional title communities, governing documents include rules, budgets, levy policies and the scheme’s constitution.

“With sectional title legislation undergoing various amendments, many legacy policies need updating. Ensure that the constitution, conduct rules and levying model are reviewed in line with new regulations, precedent court cases or municipal ordinances.”

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