You already know how important maintenance is, but keeping up with all this can be challenging, which is why it is important to develop a property maintenance plan. When you don’t have a plan, maintenance can easily be overlooked, and the consequences can be expensive or even dangerous.
Establishing a maintenance plan helps to reduce the risk of potential hazards, such as injuries caused by falling building materials or fires caused by poor lighting. No property manager is willing to face a negligence claim in court, deal with soaring insurance premiums, or experience negative news and negative comments. To avoid serious problems, timely maintenance and preventive measures must be taken.
In addition to reducing the risk of property loss for yourself, your team, suppliers, and residents, having a good maintenance system can be a competitive advantage in attracting and retaining residents. For example, according to a survey conducted by AppFolio, renters who are dissatisfied with the property management company cited the response to repair requests and the resolution time issue as the most common reasons. 52.7% of renters said that if they are not satisfied with the property management company, they will first move out or not rent.
Increased property value: The property maintained will maintain or increase in value. Lack of maintenance will reduce the market value and rent of the property.
Satisfied residents: Poor maintenance of buildings, property, and electrical appliances can produce dissatisfied residents, which can lead to negative reviews, increased attrition rates, and more vacancies.
Reduce costs: An efficient property management system can help save money by minimizing risks, extending the life of appliances and equipment, and freeing up your team to focus on providing a higher level of service.
Less work: You already have a lot of work to do. By establishing a building maintenance system, you can reduce the time it takes to contact residents and owners, track work orders, manually enter data in other software, pay invoices, and deal with emergencies. Any information provided by Companies House, including registered office address, record history, accounts, annual return