What does the future hold for Property Management?

The property management sector is entering a new era. With the latest changes introduced by the Building Safety Act and sweeping legislative reforms on the horizon, including the phasing out of leasehold and the introduction of mandatory regulation of managing agents, the industry is poised for transformation. At Rendall & Rittner, we believe many of these changes are not only necessary, but they are also long overdue.

A shift toward Commonhold: what it means 

The Government recently announced plans to remove leasehold for new properties, replacing it with a commonhold system. This move is designed to give homeowners greater control and long-term security over their properties.

For many in the industry, this represents a significant shift, but for us it’s a natural progression as we’ve long championed models that empower residents and promote transparency. We already work closely with hundreds of resident management groups.

At The School Yard in Birmingham, we work with the residents to manage a Grade II listed former school now home to community uses, a contemporary apartment building and courtyard garden. From full compliance to resident support, our team ensures high standards, service charge transparency and lasting value.

At Fulham Reach in London we have been working in close collaboration with the developer client and the Residents' Association since 2015.  Latest initiatives, in partnership with the RA, include securing a grant for energy efficiency improvements, repurposing facilities, holding monthly finance meetings, and maintaining a 30-year maintenance plan to underpin reserves.

Professionalising the sector: a welcome move

Equally impactful is the Government’s renewed focus on raising standards within the property management profession. They have confirmed plans to introduce mandatory qualifications for property managers and to regulate managing agents. This will be a landmark moment for the industry.

Managing agents play a critical role in maintaining the safety, functionality, and value of multi-occupancy buildings and estates for their residents. As we move toward a more regulated future, managing agents’ responsibilities will only grow. Professional qualifications and sector regulation are essential to ensure that agents are equipped to meet these demands with competence and integrity.

Why regulation matters

The property management sector has historically lacked consistent oversight, leading to wide disparities in service quality and asset protection. Introducing regulatory standards will help level the playing field, ensuring that all residents, regardless of where they live, receive a high standard of care and professionalism.

At Rendall & Rittner, we are proud to hold Regulated by RICS status and we have multiple accreditations from The Property Institute, the British Safety Council and Investors in People. These credentials are more than just badges, they reflect our commitment to excellence, transparency, safety and continuous improvement.

Accreditation as a benchmark for trust

In the absence of formal regulation, voluntary regulation and accreditation has played a crucial role in maintaining standards.

Our accreditations provide clients and residents with confidence that we operate to the highest standards and that their funds are protected. They also reflect our investment in our people, processes, and our total commitment to health and safety. As regulation becomes mandatory, we believe these foundations will serve us and our clients exceptionally well.

A resident first approach

Ultimately, the goal of these reforms is to improve the experience of all those who live in managed properties. We’ve always placed residents at the heart of what we do whether they live in Bristol, Birmingham, Brent Cross, Bournemouth or Belgravia or anywhere else for that matter! From transparent communication to proactive maintenance and community engagement, our approach is built around the needs of the people we serve.

We are committed to ensuring our service charges remain reflective of the real costs involved in, at least, maintaining the quality of the developments we manage. Our focus is on delivering service charges that are value for money, and we aim to achieve this through efficient procurement that enables us to secure the best possible deals on services and maintenance contracts. This year we have achieved a 15-20% reduction in electricity and gas rates on average across our portfolio.

We always tailor our broad range of services to the needs of our developer and resident management clients. For the former our Development consultancy services provide expert advice and added value at every stage of a development, optimising build costs, design, service charges and operating risks, as well as improving the customer experience for stakeholders.

Looking ahead

As we await the publication of the Leasehold and Commonhold Reform Bill later this year, we remain in active discussions with Government officials and industry bodies. We are committed to playing a constructive role in shaping the future of property management, one that is professional, accountable, and resident-focused.

As someone deeply invested in the future of our industry, I believe regulation and professional qualifications are a positive and necessary step forward. These proposals align closely with the values we uphold at Rendall & Rittner. We remain committed to helping shape a property management sector that delivers real value, trust, and quality of life for every resident we serve.

Richard Daver, Co-CEO, Rendall & Rittner