Amid an ever-changing landscape for developers, it is now more important than ever to engage and work alongside property managers from the very outset of a project. Here, Rocco Archidiacono, Head of Business Development at The FirstPort Group, explains how developers are seeking the expertise of specialist property managers from build to handover and beyond.
Earlier Engagement
Many developers are taking a more holistic approach to planning their latest project, with increasing focus on the long-term serviceability and performance of the development, far beyond construction. As a result, developers are increasingly engaging with specialist management companies from the outset, to benefit from their expertise throughout the project.
“The way we work with our clients is certainly becoming more of a partnership because we need to be involved very early on and advise them on what we’re seeing on the ground.” Says Rocco.
Previously, management companies would generally be appointed post-build to carry out general maintenance. However, changes in planning criteria and processes, as well as a desire to ensure long lasting cost effectiveness for residents have led to an increasingly collaborative mindset.
“We are seeing more requests for external support at a much earlier stage, where we have the opportunity to give clients our expert opinion on the long-term management of the project, helping them evolve their designs, we essentially become part of that journey.” Rocco comments.
“We’re now seeing additional focus on areas such as biodiversity and health and safety, as well as ensuring the appropriate amenities are included. We add value by advising on how to implement facilities and services such as refuse disposal, resident engagement strategies, traffic management, parcel deliveries and vehicle access control.”
An Attractive Proposition
Developers will always want to ensure that sites are designed to appeal to their target audience – creating properties and communities that homeowners will ultimately want to invest and live in.
Specialist property managers will understand the things that matter to the people that would call the development home and can advise on the best ways to implement and maintain communal facilities and amenities, including useful insight into the associated costs of maintenance, that will form the service charge for homeowners.
“We know that for potential buyers, it is vital that the service charge is reasonable, therefore it is important for developers to understand in detail the ongoing costs that will be passed to those that eventually purchase the properties and show them exactly what they get for their money.
“Experienced management companies can advise on the required service levels that best fit the varying types of residential development, taking into consideration the range of amenities, as well as size, location, budget and clientele. It is important to pitch this correctly, as the overall cost of maintenance will ultimately be covered by those that live in the properties going forward.” “For example, when designing outdoor areas, we are able to advise on what the maintenance schedule would need to look like, as well as estimating the associated costs of in-house support, or through external suppliers.”
Ensuring Sustainability
Environmental considerations are now increasingly prominent in the design and planning of new homes. Developers now face increasing obligations to ensure that designs offset the environmental impact of the initial build, as well as ensuring the site is as sustainable as possible once occupied by residents.
“We know that developers have increasing obligations in relation to sustainability and biodiversity. These requirements go beyond the building process itself, and also relate to how the environmental impact will be restored and eventually pursue a net gain, in terms of its biodiversity, in the years following the construction.”
“It’s those longer-term aspirations where property managers can really add value, as the party responsible for driving this agenda once the development has been handed over. For example, if a client is considering adding landscaping to accommodate the biodiversity, then, by discussing what you’re looking to put in there, property managers can ensure that it’s placed and managed correctly, to ensure it serves its purpose in the years ahead.”
The Benefit of Experience
Property managers can provide real life experience of the aspirations and challenges of managing a residential development, giving their clients the benefit of such insight ahead of time.
Rocco concluded: “Ultimately, property managers can give their clients helpful guidance and insight into the best ways to bring their vision to life, whilst keeping residents in mind. With the benefit of experience across the wide range of developments in our portfolio, this can include both what constitutes success, and an awareness of the pain points that can occur, ultimately allowing us to help optimise the quality of the site, mitigate risk and ensure residents are happy in their homes and communities for the long term.”
