PROBLEMS AND PROSPECTS OF MANAGING MULTIPLE TENANTED RESIDENTIAL PROPERTIES. A CASE STUDY OF STONE WATER ESTATE

The management of multi-tenanted residential properties presents a unique set of challenges and opportunities that affect both property owners and tenants. This study investigates the problems and prospects of managing multi-tenanted properties, with a particular focus on Stone Water Estate. The key objectives include assessing current property management strategies, analysing common management issues such as maintenance operations, rent collection, and tenant satisfaction, and exploring how tenant dynamics and communication affect property efficiency. Emerging trends such as property management software and smart home technologies are also examined for their potential to enhance tenant satisfaction and operational profitability. Using a stratified sampling technique, 190 participants were selected from various groups, including property owners, tenants, and management staff. Data collected from these groups were analysed using descriptive statistics. The study identifies significant challenges in maintenance coordination, tenant conflict resolution, and financial complexities, while also highlighting the potential for technological solutions to streamline operations and improve stakeholder satisfaction. The findings underscore the importance of efficient property management practices and the adoption of modern technology in maximizing the profitability and tenant experience in multi-tenanted residential properties.