3 types of maintenance

3 Types of Maintenance Strategies: What Type is Yours?

The ultimate guide to the 3 types of maintenance: reactive, preventative, and predictive

What is the best property maintenance strategy? 

An efficient maintenance process is critical to maintaining and scaling your property management company. Most property management companies have some sort of maintenance strategy in place for ensuring their properties are kept in good condition and everything is running smoothly. However, at Property Meld we talk to hundreds of property managers a day and what we have learned is that many property management companies have an extremely reactive maintenance strategy.

Instead of waiting until a resident submits a maintenance request to fix something, the top property management companies are using Property Meld to help predict maintenance issues, and fixing things before major breakdowns occur. How are they doing this? By implementing a preventative maintenance strategy into their organization.

Preventative maintenance is the most sought after maintenance strategy for the following reasons:

Better rental experience for residents

Less money spent on maintenance emergencies

Maintenance work can be planned in advance when labor costs are lower

Increased owner satisfaction and retention

Helps you avoid employee burnout in your peak maintenance seasons

What are the 3 types of maintenance?

Three Types of Maintenance Strategies

The 3 types of maintenance are preventive maintenance, reactive maintenance, and predictive maintenance.

Reactive maintenance is the most common of the three types of maintenance since most coordinators wait until a resident submits a work order to send a maintenance technician to complete a repair. Predictive maintenance is the act of predicting maintenance issues before they arise. However, this maintenance strategy is difficult to achieve if you aren’t scheduling regular maintenance inspections and upkeep.

Preventative maintenance is the most sought after in the 3 types of maintenance because things are being fixed before they even break. Allowing you to save money, keep your team busy but not overloaded, and provide a better resident experience.

What is your current maintenance strategy type?

If you are waiting until a work order comes in, to make repairs around your properties, you are most likely running a reactive maintenance strategy. To determine your current maintenance strategy, and more importantly, how to improve, ask yourself the following questions.

Do you routinely spend money on emergency repairs during peak seasons?

Do you schedule routine maintenance checks or repairs with technicians?

Is your technician’s schedule consistent or does it go from a light work load to a huge amount of backlog?

Does it take you more than 3 days to complete an HVAC repair in the summer months?

Are your owners frustrated with unexpected maintenance charges on their monthly statements?

 

The Benefits of a preventative maintenance strategy

Implementing a preventative maintenance strategy in property management can offer several advantages to your overall efficiency, safety, and value. But what is preventative maintenance and what is its importance to your business? Here are some key benefits:

Extended Equipment Lifespan:

Regular maintenance of building systems (HVAC, plumbing, electrical, etc.) and structural components helps ensure they operate efficiently and can contribute to an extended lifespan, reducing the need for premature replacements.

Reduced Operating Costs:

Well-maintained equipment tends to operate more efficiently, leading to energy savings. Additionally, identifying and addressing issues early can prevent major breakdowns, reducing the overall cost of repairs and emergency services.

Resident Satisfaction:

Proactive maintenance prevents unexpected disruptions to residents. This contributes to higher resident satisfaction as they experience fewer inconveniences related to equipment failures and repairs.

Preservation of Property Value:

Regular maintenance helps preserve the physical condition of the property. This, in turn, maintains or increases property value, which is essential for investors.

Optimized Budgeting:

Planned maintenance allows property managers to allocate resources more efficiently. Predictable costs associated with scheduled maintenance activities can be budgeted for in advance, reducing the financial impact of unexpected repairs.

Improved Efficiency of Property Operations:

Proactive maintenance allows property managers to address issues during scheduled times, minimizing disruptions to daily operations. This contributes to the overall efficiency of property management processes.

Asset Management and Planning:

Documenting maintenance activities and tracking the condition of assets over time provides valuable data for long-term planning. This information aids in decisions about renovations, upgrades, and future capital expenditures.

In summary, a preventative maintenance strategy in property management goes beyond simply fixing things when they break. It involves proactive planning and regular inspections to optimize properties’ performance, safety, and value, ultimately benefiting property investors and residents.

Take our short survey to see if you are running a preventative maintenance strategy. 

What are the consequences of keeping your current maintenance strategy?

A reactive property maintenance process, characterized by addressing issues only when they arise rather than proactively preventing them, can lead to a myriad of consequences that adversely impact property owners, residents, and overall property value. One significant consequence is the increased risk of unexpected and costly repairs. Without a planned maintenance schedule, property managers are more likely to face sudden equipment failures and structural issues, often requiring emergency interventions. These unexpected repairs can strain budgets, leading to financial unpredictability for property owners and the potential for increased operational costs.

Moreover, a reactive approach to property maintenance can result in resident dissatisfaction and higher turnover rates. When residents experience frequent disruptions due to unplanned repairs, it can negatively impact their living or working conditions.. High turnover rates not only affect the reputation of property management but also lead to additional costs associated with marketing, resident acquisition, and potential periods of vacancy.

If you are dealing with any of these issues, take our short survey to audit your current maintenance strategy.

How to audit your current process?

Audit of your current property maintenance strategy is a crucial process to ensure efficiency, cost-effectiveness, and long-term asset preservation. Begin by conducting a comprehensive review of your maintenance records, including schedules, work orders, and historical data. Analyze the frequency and nature of maintenance tasks performed, identifying patterns and trends. This will provide insights into whether preventive maintenance is effectively preventing issues or if there’s a need for adjustments. Cross-reference maintenance expenses with the outcomes to gauge cost-effectiveness. Consider benchmarking against industry standards to assess if your strategy aligns with best practices. Evaluate the response time to reported issues and assess if it meets or exceeds acceptable standards. This can reveal the effectiveness of your reactive maintenance protocols.

In addition to the quantitative analysis, solicit feedback from both residents and maintenance staff. Their perspectives can uncover operational inefficiencies or highlight areas requiring improvement. Regularly review and update your property maintenance plan, incorporating technological solutions where applicable to streamline processes and enhance communication. Emphasize sustainability in your strategy by adopting eco-friendly practices and energy-efficient technologies, reducing long-term operational costs. Finally, ensure that your team is adequately trained and equipped to handle the diverse challenges that may arise.

See how Property Meld can help you make data-driven decisions to improve your maintenance strategy and implement more preventative practices by booking a demo with our team!