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Fuzzy multicriteria decision‐making tools for selecting a professional property management company
Author(s) -
Shiu JiunYi,
Lu ShihTong,
Chang DongShang,
Wu KaiWei
Publication year - 2019
Publication title -
international transactions in operational research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.032
H-Index - 52
eISSN - 1475-3995
pISSN - 0969-6016
DOI - 10.1111/itor.12356
Subject(s) - topsis , property (philosophy) , fuzzy logic , ideal solution , rank (graph theory) , computer science , vikor method , preference , operations research , construct (python library) , property management , order (exchange) , management science , business , mathematics , artificial intelligence , economics , microeconomics , philosophy , physics , real estate , epistemology , finance , combinatorics , programming language , thermodynamics
This study develops a model to assist a condominium committee in selecting an appropriate property management company. This model adopts the literature reviews and expert interviews to construct the suitable evaluation criteria of property management companies, then applies the fuzzy linguistic preference relations to determine the relative weights of evaluation criteria, and adopts the fuzzy technique for order preference by similarity to ideal solution (TOPSIS) and fuzzy VlseKriterijumska Optimizacija I Kompromisno Resenje (VIKOR) approaches to rank the alternatives for the condominium committee. Additionally, a condominium in Da'an District of Taipei is used as an example of how an appropriate property management firm can be selected using these two models. The results of fuzzy TOPSIS and fuzzy VIKOR are compared and discussed to understand the properties of selecting alternatives. The model proposed here allows the condominium committee to select professional property management firms systematically, making it highly applicable for academia and practices.