The Development of Property Management Capability Index (PMCI)

THE DEVELOPMENT OF PROPERTY MANAGEMENT CAPABILITY INDEX (PMCI) FOR EFFECTIVE SERVICE DELIVERY IN STRATIFIED RESIDENTIAL PROPERTY

Leader

Mustafa Omar

Researchers

Hishamuddin Mohd Ali, Ibrahim Sipan, Dzurllkanian Daud, Maimunah Sapri, Kamalhassan

A/L Achu, Shahabudin Abdullah

ABSTRACT

Despite the increasing challenges and rising expectation towards effective residential property management services, there is limited studies and lack of evidences of the utilization of internal capabilities that are crucial for residential property management. Therefore, the identification and evaluation of residential property management capabilities is become important. The research aim was to develop Property Management Capabilities Index (PMCI) to provides property managers with a tool to evaluates their management capabilities. Data were collected through a Focus Group Discussion (FGD) and survey with a sample of 428 practitioners drawn from the stratified residential property management industry in Peninsular Malaysia. Property manager’s self-assessment on key drivers of management capability was the basis in developing the PMCI. Than, the assessment of key drivers was converted into an index by calculating scores for each drivers with defined weightings. The research identifies five specific key drivers and relevant subcategories which were segregated into 1)Property Asset Data Management, 2) Integrated Maintenance Management, 3) Responsive PM, 4) Effective Financial Management and 5) Organisation Result and Performance. As a result, the overall PMCI is 71.7 (of a potential 100 capacity). Therefore, there is scope to lift current performance levels. The PMCI presents Malaysian residential property management organisations with the opportunity to benchmark themselves against organisations of a similar type and size. In highlighting areas of strength and weakness, the PMCI will help organisations to direct their attention to priority areas for improvement.

Keywords: property management capabilities, stratified residential property