Property managers are responsible for maximising profitability and minimizing time spent thinking about their properties. While property maintenance can take up a lot of time, it can also help maximize profits by keeping repairs costs low, keeping residents happy, and generating referrals.
The spring maintenance season will soon be upon us. Winter's snow and ice, as well as wind, will have an impact on heating and roofing systems.
No matter whether you are responsible for a condominium complex, hotel, apartment block, or individual homes you cannot properly take care of a property without keeping them up to date. It will keep your occupants safe and happy and make them more likely to recommend your properties and continue renting them.
Everyone talks about the steps involved when managing a property. But, no one ever discusses the importance of maintenance services as part management services. And how to provide good and impressive maintenance services without it becoming overwhelming.
Along with communicating and managing tasks effectively, it’s also critical to be proactive about checking in with residents to ensure they are satisfied with their maintenance experience. This not only shows you care but could also prevent someone from publishing a negative review because of a bad experience. Armed with residents’ feedback you can also gain valuable insight into your vendor’s performance and uncover ways you can improve your processes.
Maintenance operations involve many moving parts. It is important that tasks are completed in the correct order and there is no lag time. It is easier to maintain things on track when you have a system that automates workflows and task management, rather than manually entering information or monitoring processes.
This doesn't mean that you won't need to make emergency repairs from time-to-time. How you deal with them will reflect positively on your business. You can set up a system that will handle urgent maintenance requests and one-off resident requests.
We will cover everything you need to know in order to provide the best property maintenance services, and how to organize it all.
For emergencies, employ a 24-hour answering service that can route calls to you or to an on-call maintenance team.
Landlords need to have information about equipment and property maintenance in order to plan financing for future repairs, equipment purchases, contractor service agreements, replacement purchases, and other financial needs (e.g. windows, roofing, HVAC and plumbing fixtures). These items should be monitored by managers.
Property maintenance can be defined as any preventive, or reactive maintenance action taken to maintain a property's best functionality and operation.
Winter is known for exposing the things inside and outside of rental properties. The summer heat, humidity, and severe weather can have devastating effects on the owner's homes.
You will likely need property maintenance services providers whether you are a landlord or busy commercial property manager. Certain tasks, such as plumbing and electrical, must only be performed by licensed technicians.
The job of a property manager is to maximize profitability for an owner while minimizing the time they have to spend thinking about their properties. Property maintenance takes up a big chunk of time, but doing it right can maximize profits by keeping repair costs low, retaining residents, and garnering referrals.
There are various types of maintenance.
Preventative Care.
Maintenance that is corrective.
Predetermined Upkeep.
Maintenance that is condition-based.
Maintenance that is predicted.
Maintenance that is reactive (run-to-failure).
How Do You Pick the Best Strategy?