Why KPIs Are Crucial to Maintenance Success
In the realm of property management, the importance of Maintenance Key Performance Indicators (KPIs) cannot be overstated. These metrics serve as invaluable tools for gauging success and pinpointing areas for improvement within your maintenance processes. Shockingly, many property managers overlook the vital role of these metrics, often due to a lack of structured data tracking […]
What Are KPIs for Preventative Maintenance?
What is Preventative Maintenance? In property maintenance, preventative maintenance refers to the proactive and scheduled maintenance activities carried out to prevent property-related issues and ensure the proper functioning and longevity of the property and its appliances. It involves inspecting, cleaning, and maintaining various systems, structures, and equipment within a property with the primary objective of […]
How Do you Measure Maintenance Performance?
One of the main reasons to track maintenance metrics is to measure the performance of your maintenance team. To achieve maintenance excellence, you must have an efficient staff that completes jobs correctly and on time. The majority of property management companies employ two types of maintenance personnel: in-house maintenance technicians and external third-party vendors. Maintenance […]
Understanding Maintenance Metrics and How to Track Them
Property maintenance is one of the biggest headaches for property management companies. This is because maintenance can be unpredictable because you’re not always aware when issues are going to arise. However, there is a way you can be more predictable and proactive with your maintenance approach. You need to track maintenance metrics so you can […]
The Connection Between Repair Speed and Reviews
One of the best ways to create happy residents is to fix maintenance issues quickly and effectively. In the property management industry, the primary reason for negative reviews is maintenance issues. Even more striking, 31% of residents reported that maintenance issues were the primary reason they left a property, second only to rent increases. It’s important […]
Why Leading and Lagging Indicators Matter to Your Maintenance Business
There’s never been a more important time to understand the difference between leading and lagging indicators for maintenance. Leading indicators tell you what’s going to happen, whereas lagging indicators for maintenance tell you what has already happened. Both are important, but most of us tend to focus only on lagging indicators. This is probably because […]
What KPIs Matter in Property Maintenance?
Some businesses define success as ever-increasing revenues and profits. Yet this simple definition comes with a catch: revenue and profits are lagging indicators, meaning that you’re already feeling the heat by the time you notice something is awry. Enter the concept of key performance indicators (KPIs). KPIs, help you measure how various successful aspects of your business […]
Ensuring Profitability for an Internal Maintenance Staff
As we’re learning more about the science of running an effective maintenance company, we’re stumbling onto some very strong indicators that we believe will dictate profitability if managed. Creating a profitable internal maintenance staff can be difficult; this article will explain how you can track/ensure your employees are profit centers and not cost centers. […]