The purpose of this study was to examine the residents' opinions on the degree of importance, and satisfaction with, the managerial service of multi-family housing. Residents' participation in managerial activities was also examined, because residents' opinions should be taken into serious consideration in order to improve the efficiency of housing management. Research methods used in this study were survey, field study, and content analysis of professionals' opinions. Survey data of 520 residents who live in multi-family housing were analyzed by means, frequencies, correlation, chi-square tests, t-tests, one-way ANOVA, post-hoc estimation (Scheffee test), and regression. The major findings of this study were as follows: First, many residents were dissatisfied with the quality of managerial service, but they thought that managerial services were very important. For example, they thought that safety inspection of the playground was very important, yet the current level of service was not satisfactory. Second, the characteristics of residents that determined the degree of residential satisfaction were income the location of the residence, and degree of participation in the community events. Third, the residents generally did not want to participate in the managerial services and community programs through such activities as participation in resident committee. In order to improve the housing management efficiency, residents' participation is critical. Some participants in this study pointed out that the details of management service and future plans need to be made public. New management models need to be developed to promote residents' participation and increase their satisfaction in the management.