It is necessary to manage and maintain any real estate object, including an apartment house, in order to ensure its technical preservation in order to preserve and maintain the safety of its inhabitants. Real estate management and administration, used in the sense of the terms, in Latvian legislation often overlap and can be considered synonymous. Also in the framework of this research, it is assumed that management and administration essentially refer to the same process, which aims to preserve and even improve the value of real estate – its technical condition, suitability for the function to be performed, compliance with regulations and good practice, which, of course, also affects the real estate market price. The International Organization for Standardization defines facility management as “an organizational function that integrates people, places, and processes into the built environment with the goal of improving people’s quality of life and core productivity”. The management of residential houses includes not only economic content, housing and their management is also of a social nature. Residential management was and will always be a topical issue as it affects the basic needs of the population. ISO 41001: 2018 “Facility management – Management systems – Requirements with guidance for use” provides for the definition of responsibilities and the establishment of a management structure and resources appropriate to the needs of the organization. The main goal is to provide a system and criteria by which facility management teams can be assessed as “fit for purpose”. Consequently, it can be concluded that the management of an apartment house is a professional discipline that affects any organization, regardless of its size. As such, it has a significant impact on the efficiency of companies in a number of areas. Housing management services, including utilities, are necessary and should be available to all levels of society. The price of building management and the cost of maintaining a residential house are the most important factors in choosing the form of object management and the form of appointing a manager.