For the implementation of real estate management, in accordance with the legislative framework of good practice and quality management, a system is required that helps the processes to be arranged according to their fundamental values, criteria and functions. The study sets residential property management elements and factors influencing them. The significance of the topic is set by the developing industry and the requirement for quality and sustainable management model that includes all interested parties – owners, lessees, tenants, users on the one side, housing managers on the other and the state, local government and non-governmental organisations on the third side. The development of this sector as a whole depends on the quality of residential housing management process
The issue of residential housing management, depending on the chosen form of the residential housing administration, is topical both from the perspective of residential building apartment owners, if apartment owners have chosen to manage the building themselves, and from the residential house manager's point of view, if the management of the residential building has been entrusted to a professional manager. This is justified by the fact that the process of residential housing maintenance and management is based on knowledge, experience and financial resources; besides, it should be carried out by meeting the existing legislative requirements of the European Union and the Republic of Latvia, as well as the interests of the apartment owners. In Latvia, in order to manage a residential building, the administrator is required to have appropriate professional education, which, according to the Law of Residential Housing Management, should be at least the 4th level of Professional Qualification accepted in Latvia (the 5th level of European Qualifications Framework, EQK, and Latvian Qualifications Framework, LQK). The topicality of the study is related to the fact that in Latvia the law stipulates that a residential housing manager should have vocational education, which can be obtained at a number of public educational institutions. In the management process owners can choose their preferred management model, but right now the Register of the Ministry of Economics does not provide full information about the professionalism of an administrator. The goal of the study is determined by the topicality of the theme – to explore the existing models of residential housing management in the Latvian market and professional capacity of specialists involved in management. Within the framework of the study, statistical, qualitative and analytical methods have been used. As at present in Latvia there is no unified system for the accounting of housing management education in the market, the research results will contribute to its development and creation.
There exists sharp competition amongst nations regarding the increasing foreign investments; therefore, nations are willing to offer foreign investors and their families some type of political bonus, such as temporary residence permit, permanent residence permit, or even citizenship. The simplest way to entice investors is to offer them and their family members temporary residence permits in exchange for investments – simply by purchasing real property (via the so-called "Golden Visa" program). Such a program was launched in Latvia in 2010; however, significant limitations were placed on it in 2014. This research (1) compares the "Golden Visa" programs in different countries in the world, (2) determines the impact of the program on the real property market of Latvia, and (3) searches for the main reason why limitations were applied to the temporary residence permit program in 2014, which resulted in a significant decrease in the international investments in Latvia (this part of the paper is based on the results of the following research: Viesturs, J., Auziņš, A., & Štaube, T. (2017). Arguments Used for Restricting International Real Property Transactions: Case Study of Latvia).
