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Northpoint Asset Management

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The Problem

Before implementing Property Meld, Northpoint Asset Management felt like they had a nonexistent maintenance department due to lack of oversight. 

“We were really just wandering in the dark. Before, an invoice was getting handed to a property manager in Atlanta, Georgia, and I had no idea what the price was,” said Dana Bain, EVP of Operations. 

This lack of visibility into the maintenance process left Northpoint liable. 

“Prior to having a system in place, a property manager would just call a homeowner for approval, and they would say “yes,” but when they get the bill, they say they never approved it. Having that documentation to prove the approval was done is crucial,” said Bain. 

Alongside managing liabilities, the Northpoint team faced challenges in implementing strategic improvements due to a lack of historical data for informed decision-making.. 

“Without that historical data, you don’t know where to improve, where to staff up, or what to prepare for,” Bain mentioned.

Enter Property Meld

For the Northpoint team, deciding to implement a dedicated maintenance solution came down to visibility. 

“For me and corporate, it’s important to know what vendors we are using, what we are being charged, whether residents are being communicated with, whether repairs are being scheduled, etc. The metrics on different work order categories are essential for data collection and were needed in our corporate office,” said Bain. 

With the data provided by Property Meld, Northpoint has been able to standardize the maintenance process across their different markets. 

“Without Property Meld, this wasn’t even a possibility. We are still evolving our processes, but it is impossible to get uniformity in our maintenance processes across the different markets without a solid tracking system like the one you (Property Meld) provide,” said Bain.

Additionally, Northpoint has been able to move to a more departmental style, where property managers are not required to be involved in the maintenance process. 

“We are taking rapid steps to nationalize that process, so our property managers have very little to do with the maintenance process, and that wouldn’t have been possible without Property Meld,” said Bain. 

The enhanced visibility provided by Property Meld allows the team at North Point to better manage their maintenance costs by monitoring what vendors are charging them. 

“Once we started to tighten up quality control on our vendors and the expectations of pricing, I was able to identify quite a few vendors that were gouging us and our customers. We knew what was appropriate pricing per region, but we didn’t even know what we were being charged without Property Meld,” Bain said. 

Having the ability to monitor the performance of their team, Northpoint Asset Management has been able to improve their repair speeds by 17.6% in the past 90 days. Additionally they have been able to lower the amount of work orders open longer than 7 days by 16.8%.

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