Apartment Boom Drives Property Manager Demand 2

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Monday, July 25th, 2016
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Strata managers and residential property managers are cashing in on growing demand for their services as the boom in apartment and multi-residential construction leads to growing levels of demand to manage newly built properties, a new report states.

In its July-September quarterly report, recruitment outfit Hays says demand for experienced residential property managers and strata managers was extremely strong amid the massive number of new multi-residential projects which were coming onto the market, whilst development mangers and sales and leasing professional were needed amid robust a robust market in new project development and sales.

Around Australia, demand for residential property managers and strata managers has been growing as massive levels of multi-residential building activity lead to a higher number of properties which require management.

Going forward, demand appears set to continue as record numbers of new units and apartments come online and the volume of inventory which requires leasing and management increases proportionately.

All of this will put pressure on levels of remuneration, which Hays says are insufficient in order to attract adequate numbers of suitably qualified people in order to meet demand.

This has created increasing levels of disconnect between candidate and employer expectations regarding salary levels along with a growing attitude of transiency on the part of candidates who understand their value and are increasingly seeking more attractive roles.

In other areas, Hays says growing demand to upgrade shopping centres and the recent arrival of a large number of foreign retailers have created roles for development managers, shopping centre managers and leasing executives and tenancy and leasing managers – the latter categories of which are in short supply, especially with regard to experienced candidates.

Project managers and asset managers (especially in retail) are also needed as are real-estate sales agents, especially for commission only roles.

In facilities management, meanwhile, a number of areas are seeing increased demand amid a rebound in spending following last year’s cost cutting.

Roles in demand include groundspeople, chefs, utility candidates, service coordinators and customer service professionals.

In its report, Hays says experienced candidates had several roles to choose from and employers were having to work harder in order to attract staff.

Along with expecting higher levels of salary, candidates were seeking good employers with a positive culture and workplace environment, Hays said.

Hays’ report comes as participants in the latest Property Council of Australia/ANZ Property Industry Confidence Survey expressed extremely positive sentiment with regard to their employment intentions, with more employers expecting staffing levels to rise over the next 12 months than expecting it to fall.

This is despite overall levels of confidence about the overall industry’s prospects being at their lowest level in three years.

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2
  1. Barry b.

    Bound to be an increasingly sought-after profession in future as more and more Australians move from homes with backyards into apartments.

  2. Michele A Hemmings

    Very interesting overview of the broader impact of the demand for medium density housing. As a Practising Strata Community Manager (SCA NSW), I hope that education of these potential first-time strata dwellers about their roles and responsibilities also goes hand in hand with the surge for these properties. People moving from quarter acre blocks to high rises or even closely aligned duplexes, will have a steep and fast learning curve to deal with. My role I see with every new complex and every new owner I receive, is to sit down with them (either in person or by telephone) and chat about the significance of communal living bylaws and the role of the Strata Committee (aka Executive).
    I hope that my own salary will grow along with the allied persons involved in this industry that you describe in your article Andrew. The doubt is that people always expect more for less these days, yet the knowledge and experience that a licensed Strata Managing Agent has to hold and the skills of handling the plethora of personal characteristics, warrants the salary of a Pyschologist, and Accountant, and even a Lawyer.