The key to success in any industry is scalability. Companies that can streamline their operational costs have a massive advantage when they expand because they don’t have to double their costs every time they double the size of their businesses. The residential property industry is no different, which is why savvy operators of multifamily and single family portfolios are increasingly making scalability part of their DNA when it comes to maintenance. One component is having specialized teams service multiple properties rather than duplicating the exact same functions in each community.
Traditionally, property maintenance has been handled by individual teams dedicated to specific buildings or complexes. However, this approach often leads to inefficiencies, higher costs, and inconsistent service quality. The future of maintenance lies in the formation of specialized teams that can service multiple properties, leveraging their expertise and resources to deliver superior results.
Specialized maintenance teams are composed of professionals with diverse skill sets, including HVAC technicians, electricians, plumbers, painters, appliance repair specialists, and general maintenance workers. These teams are equipped with advanced tools and technology, enabling them to diagnose and address issues quickly and effectively. By servicing multiple properties, these teams can optimize their schedules, reduce downtime, and ensure that all properties receive the same high level of care without having to spend large amounts of money on expensive service providers.
So what are the benefits of specialized teams rather than having generalists managing maintenance across an entire portfolio?
The best way to start the conversation is by recognizing that while there may not be enough demand for a specialized and expensive skill at a single property, there may be an economy of scale by employing a team to cover multiple communities. According to the United States Bureau of Labor Statistics, the average plumber earns nearly $68,000 annually. That would be a steep expense for a single community to absorb, as would hiring a plumber ad hoc at more than $100 an hour, but having a plumber available to service several buildings suddenly makes it more affordable to have a full-timer on staff to handle planned and emergency maintenance. With that in mind, let’s break down all of the advantages of relying on specialized teams to meet the needs of multiple communities:
- Cost Efficiency: One of the primary advantages of specialized maintenance teams is cost efficiency. By servicing multiple properties, these teams can reduce overhead costs and achieve economies of scale. This approach allows property owners to allocate their budgets more effectively, investing in preventive maintenance and upgrades rather than reactive repairs.
- Consistency and Quality: Specialized teams bring a level of consistency and quality that is often lacking in traditional maintenance approaches. With standardized procedures and protocols, these teams can ensure that all properties are maintained to the same high standards. This consistency not only enhances the overall appearance and functionality of the properties but also contributes to resident satisfaction and retention.
- Advanced Technology Integration: The future of maintenance is closely tied to technological advancements. Specialized teams are equipped with state-of-the-art tools and software that enable them to monitor and manage properties remotely. For example, predictive maintenance systems can identify potential issues before they become major problems, allowing teams to address them proactively, and know what repair parts to bring to the job so they aren’t making multiple trips to the home. Technology can also ensure that the right people are scheduled and assigned to work on tasks in a manner that minimizes their travel time between properties and helps them address any open issues in a unit, and minimize future visits. This technology-driven approach minimizes downtime and reduces the need for emergency repairs.
- Flexibility and Scalability: Specialized maintenance teams offer flexibility and scalability that traditional approaches cannot match. As property portfolios grow, these teams can easily adapt to the increased demand, ensuring that all properties receive the necessary attention. This scalability is particularly valuable for property management companies with diverse portfolios, as it allows them to maintain a high level of service across all assets.
Leveraging specialized teams offers numerous benefits, including cost efficiency, consistency, advanced technology integration, and scalability. As property management companies continue to adopt this model, residents can expect higher service quality and property owners can enjoy reduced costs and improved asset performance. By embracing the future of maintenance, property management companies can stay ahead of the curve, ensuring that their properties are well-maintained and their residents are happy. The rise of specialized maintenance teams is a testament to the industry’s commitment to innovation and excellence, paving the way for a more efficient and effective future.
