When the economy tightens, it is more critical than ever for property management companies to reduce their maintenance costs. After all, when top line rent revenue growth evaporates, you need to lower your costs to take care of your bottom line.
Lowering costs is always easier said than done. How do we go about solving it? Some of the ways in which you can lower your maintenance costs include:
- Taking care of all service requests for a resident on the same visit
- Ensuring that work orders are assigned to technicians with the appropriate skills
- Avoiding duplicate service requests
- Helping residents to self-service minor maintenance issues
- Reducing triage and scheduling work performed by maintenance managers
- Increasing centralization of maintenance.
- Leveraging preferred supplier purchasing
- Sharing information and collaborating with your service providers to reduce repeat resident visits.
While putting together the right processes and experienced personnel to manage your work efficiently can help, there are software tools available that can help you address these cost saving methods. Technology for collaboration and optimizing processes, including those that are powered by Artificial Intelligence/Machine Learning, can be particularly helpful as they can improve over time.
While there are many pieces of software that can help you solve these problems individually, only process based maintenance platforms support your entire maintenance process. Piecemeal software solutions often require your team to spend too much time transposing data between solutions and working through a disjointed process.
By implementing a single platform that guides you and your vendor partners through your maintenance process you can simplify your maintenance staff’s work. Not only can the process be easier for them with a single easy to use tool for the entire maintenance process, we have found that efficiency gains can be as high as 230% with the right platform.
With a challenging economy, it is important to evolve your organization by implementing a process based maintenance platform. Not only will it transform your maintenance staff’s lives through simplification, it will improve what you do for residents and provide efficiencies that will improve your bottom line.