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Asset management is about ensuring that a landlord's homes are affordable and attractive to tenants and are financially viable in the medium to long term. Managing assets is therefore partly about investing in, maintaining and upgrading properties and partly about understanding the needs and aspirations of tenants.

Asset management includes a wide range of activities that housing associations and co-operatives undertake to ensure their homes are of good quality and are affordable to tenants. This includes complying with Scottish Government standards such as the Scottish Housing Quality Standard which was introduced in 2004 and requires homes in the social sector to be: energy efficient, safe and secure; not seriously damaged; and have kitchens and bathrooms that are in good condition. The Energy Efficiency Standard for Social Housing also sets targets for energy performance (see Energy Efficiency and Decarbonisation).

As part of Housing to 2040, the Scottish Government is planning to introduce legislation for a new cross tenure Housing Standard in 2024/25, for phased introduction from 2025 to 2030. This will help to ensure everyone can live with dignity and in comfort, regardless of their housing tenure.

The SFHA supports ​members with asset management through regular Property Repair and Asset Management Forums and other events. 

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