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Different Management Functions in Housing Operation Practice: Ukrainian Case Study

Different Management Functions in Housing Operation Practice: Ukrainian Case Study AbstractThe analytical part of the article describes the situation after 1990s, when the residential housing stock in most Central and Eastern European countries was privatized, in poor condition, and required costly major repairs at the expense of new owners, which was impossible in terms of finance. In this situation the building maintenance and operation functions are transferred to private or municipal management companies, or remain executed directly by owners’ organizations.The article examines existing services proposed to customers as residents, not taking account the functions of residents as building co-owners. The authors studied the relevant theories and legislation, comparing the current building maintenance and facility management functions to strategic functions of asset and property management. It was shown that the different interests of consumers and owners should be covered by different functions of professional managers.The obstacle is that the structure of residential housing management companies mixes them in a dual customer and owner body. This creates contradictions between the aim to minimize customer’s expenses and the need to preserve assets and property.A conclusion was reached to separate the ownership and property management of houses. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Real Estate Management and Valuation de Gruyter

Different Management Functions in Housing Operation Practice: Ukrainian Case Study

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Publisher
de Gruyter
Copyright
© 2021 Vsevolod Nikolaiev et al., published by Sciendo
ISSN
1733-2478
eISSN
2300-5289
DOI
10.2478/remav-2021-0011
Publisher site
See Article on Publisher Site

Abstract

AbstractThe analytical part of the article describes the situation after 1990s, when the residential housing stock in most Central and Eastern European countries was privatized, in poor condition, and required costly major repairs at the expense of new owners, which was impossible in terms of finance. In this situation the building maintenance and operation functions are transferred to private or municipal management companies, or remain executed directly by owners’ organizations.The article examines existing services proposed to customers as residents, not taking account the functions of residents as building co-owners. The authors studied the relevant theories and legislation, comparing the current building maintenance and facility management functions to strategic functions of asset and property management. It was shown that the different interests of consumers and owners should be covered by different functions of professional managers.The obstacle is that the structure of residential housing management companies mixes them in a dual customer and owner body. This creates contradictions between the aim to minimize customer’s expenses and the need to preserve assets and property.A conclusion was reached to separate the ownership and property management of houses.

Journal

Real Estate Management and Valuationde Gruyter

Published: Jun 1, 2021

Keywords: housing; privatisation; owner; solvency; management; resident; L85; O18; R00

There are no references for this article.