3 Property management trends for 2024 Scheme Executives must know about

As a Scheme Executive, you carry the weighty responsibility of overseeing your sectional title community’s management and upkeep. The decisions you make shape everything from property values and growth potential to residents’ quality of life. Keeping your scheme financially sound, well-maintained, and continually improving requires staying on top of emerging real estate and property management trends.

What new technologies should you invest in? How can you implement sustainable building practices? What recent compliance updates or regulatory changes could impact governance documents and levies? Asking these questions is key to effective Scheme Executiveship in an ever-evolving landscape. By understanding 2024’s latest trends, you can future-proof value for homeowners and investors. Additionally, you ensure liveability and satisfaction rates remain high for years to come.

“As a Scheme Executive, your decisions shape your community’s future,” says Pearl Scheltema, CEO of Fitzanne Estates. “Staying informed on the latest property management trends is key to guiding your scheme toward sustainable prosperity.”

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

“Knowledgeable Scheme Executives drive community success,” she continues. “Proactive leadership garners further engagement from owners and fuels value enhancement over time.”

Tech upgrades for efficiency

“One major shift is the integration of new technologies into community operations,” Scheltema points out. “We are seeing things like smart access control systems with digital access codes that automatically expire. High-definition security cameras with motion sensor alerts to flag any unusual activity. Automated lighting paired with occupancy sensors means lights only turn on when needed.”

These kinds of upgrades aim to improve security, conserve electricity, and create more seamless systems for residents and property managers alike. For example, automated lighting ensures safety while avoiding energy waste—lowering monthly electricity bills. Meanwhile, on-site security feeds that can be viewed remotely give managers and Scheme Executives instant insight if an incident occurs after hours.

Cloud computing and integrated software systems are also making community management markedly more efficient. Digitised processes allow for faster response times and transparency around issues. Financial dashboards offer real-time expenditure data. Online portals give Scheme Executives a way to log requests, access documents, and view bylaws digitally 24/7.

“With daily tasks and records increasingly going digital, managers can devote more attention to personalised service and long-term planning,” Scheltema explains. For Scheme Executives, technology upgrades open new possibilities for responsiveness and accountability across their scheme. Thoughtfully embracing new tech solutions allows communities to elevate living standards today and better stand the test of time.

Sustainability becomes standard

“There is a sustainability revolution happening in property management,” Scheltema shares. “Solar panels, recycled building materials, native landscaping, low-flow plumbing, EV charging stations—these once specialty items are rapidly becoming standard.”

What’s driving the shift? For one, sustainable features can significantly lower a property’s environmental impact and monthly utility bills. Solar energy and low-flow fixtures cut electricity and water usage. Meanwhile, EV chargers accommodate owners of electric vehicles. Native plants beautify grounds while conserving water versus grass lawns.

Such upgrades also meet demand from eco-conscious homeowners and tenants. In survey after survey, South Africans rank sustainability as a priority when choosing a living space. Given growing climate concerns, green features additionally future-proof value for any scheme.

The good news is property management companies now have in-house expertise to help trusts execute sustainability initiatives. From waste management procedures to infrastructure improvements, reputable managers stay on top of innovations in this space. They also understand available incentives, rebates, and tax deductions to offset upfront investment.

“Sustainability upgrades demonstrate to residents and prospective buyers that your community cares about its impact. An eco-friendly approach isn’t just good for the planet—it’s good for long-term prosperity,” Scheltema advises.

“Now is an opportune time” to review governing documents

Additionally, Scheltema advises, “Best practices and regulations continue to evolve across South Africa. Now is an opportune time for Scheme Executives to review their community’s governing documents against the latest standards and compliance requirements.”

For sectional title communities, governing documents include things like rules, budgets, levy policies, and the scheme’s constitution. These establish day-to-day governance and responsibilities for financial health.

“With sectional title legislation seeing amendments in recent years, many legacy policies need updating,” she explains. “Have your constitution, conduct rules, and levying model been reviewed through the lens of new regulations, precedent court cases, or municipals ordinances?”

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Media contact:  Cathy Burroughs, +27 82 222 9198, marketing@fitzanne.co.za  https://www.fitzanne.co.za/

More about Fitzanne Estates

Fitzanne Estates (Pty) Ltd is a Property Management Company that can sufficiently administer your property investment to the benefit of the Landlord, the Body Corporate, and the NPC – Non-Profit Company. Services include Letting, Sectional Title Management, Full Title Management (NPC – Non-Profit Company) and Sales.

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