In UK, Property Management company manages residential and non-residential real estate for property owners, with responsibilities including maintenance, rent collection, waste removal, security services and renovation activities.

COVID-19 outbreak has led to the temporary closure of non-essential businesses in the UK and has lead to the adoption of Proptech and digital transformation.

Build to Rent (BTR) properties, which are owned by companies and custom-designed for rental by multiple occupants, are one of the fastest growing sectors in the UK property market.

The Property Management sector in the UK is estimated at ~£1.2 Bn in terms of Total Contract Value (TCV),accounting for 1.0% of the total UK FM Market.

The Property Management spends circa ~£1.2 Bn of the Property Management sector in the UK, Integrated FM accounts for the highest proportion of services contracted with TCV of ~£387 Mn (33.6%), followed by Soft FM with ~£173 Mn (15.0%) and Hard FM with ~£123 Mn (10.6%).

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