There’s never been a more important time to understand the difference between leading and lagging indicators. Leading indicators tell you what’s going to happen, whereas lagging indicators tell you what has already happened. Both are important, but most of us tend to focus only on lagging indicators. This is probably because they’re the most readily […]
Read More »Talk to any property manager and the conversation will eventually shift towards maintenance and all of the challenges that come with it. Our property managers would report that over 50% of their time was dealing with maintenance and the time studies we had them do prove it. Our managers were not able to manage additional […]
Read More »What’s going on in property management in uncertain times, and what you can do to help stop the bleeding.
Read More »When growth is the ultimate goal, it’s easy to just focus your attention on sales, revenue, and profit. But stable and sustainable growth isn’t only about the bottom line. It’s about growing each facet of your operation methodically so the entire business moves in rhythm with its constituent parts. In the property management business, it’s […]
Read More »In our previous post, we stressed the importance of understanding the basic mathematics of your company’s maintenance operation. In other words, you must know how much money your maintenance program is costing your business, and how much money it is bringing in, to begin understanding how it affects your business’s bottom line. But the dollars […]
Read More »Running a profitable, successful property management business is no small feat. There are housing units to be cleaned, shown, filled with new tenants and turned over at the end of leases. There are lease agreements to craft, rent payments to collect, and utility and property tax bills to pay. And that’s just when business is […]
Read More »Accounting systems and property management go hand in hand. So should maintenance…
Read More »For many, success in business can be defined as ever-increasing revenues and profits. Yet such a rudimentary definition comes with a catch: revenue and profits are lagging indicators, meaning that by the time you notice something is awry, you’re already feeling the heat. Measure your current performance here. Enter the concept of key performance indicators. […]
Read More »Running your maintenance operation and any other sort of business is quite similar. Are you hitting the business mark?
Read More »In a notoriously litigious field of work, property managers should be aware of risk mitigation opportunities.
Read More »The intensity and rate at which technology disrupts the world and its systems is exponential. In other words, we’ve only touched the surface of its effects and they’ll likely arrive much quicker than any of us anticipate. In the property management industry, technology is only just beginning to extend its tentacles. Yet there is a […]
Read More »A quality maintenance process means happier residents. Happier residents translate to better reviews and higher resident retention. Positive reviews and resident retention lead to increased revenue and fewer resident turnover responsibilities. It’s rather simple mathematics. The challenge Confidently knowing your process is up to snuff. To that end, we took a look at how maintenance […]
Read More »Don’t let the lack of air-conditioning problems fool you…winter has its fair share of maintenance woes.
Read More »Oftentimes, all it takes to convince a property manager of the many benefits of Property Meld is a quick chat and walkthrough of our software. Once they find themselves onboard, however, their next concern usually shifts to how they’re going to convince their myriad vendors to see the light, too. To help, we’ve assembled some […]
Read More »Utilizing our data, we compiled a list of the top 10 most common maintenances issues you can expect to encounter as a property manager.
Read More »The maintenance process from the resident perspective can affect your bottom line.
Read More »In evaluating the time it takes to turn a property, there is a wide range of variables that all property management companies juggle. There are some commonalities that come into play when determining the average time for a turn.
Read More »In discovering what makes a maintenance process tick, we have uncovered many similarities in operations across North America. Some of those similarities are good, and some are not so good.
Read More »HVAC issues have two target seasons for residents needing maintenance. Residents needing air conditioning repair in the hot summer months of June through August, and residents needing heating repairs in winter, primarily November and December.
Read More »Creating a profitable internal maintenance team can be difficult; this article will explain how you can track/ensure your employees are profit centers and not cost centers.
Read More »Property Meld can send you a personalized maintenance analysis at no charge, evaluating these three components, along with more important factors to prepare you for even higher success.
Read More »Today’s data is showing that the summer months are when 80% of people are moving into new properties and when maintenance issues increase by 57%. Many property managers and owners tend to call this, stuck in “survival mode.”
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