In the era of technology, software use and digital communication are growing rapidly and becoming the norm in today’s society. The real estate industry is no exception. As a property manager, you must evolve and accept that technology continues to transform the world. Many property management companies look to technology to improve their day-to-day operations […]
Read More »Things are heating up in the housing market. People are talking about it, and it’s not a secret. According to Realtor.com, home sales are going up and mortgage rates are on the move.* But there is another hot topic that we can’t seem to sit back and watch go up in flames. As a business […]
Read More »It’s time to turn on your turn process. ‘Tis the season for residents moving out and moving on from one of your many unit rentals. Cue the make-ready boards, spreadsheets, and manual checklists to oversee all the moving parts. “Who was in charge of purchasing the dry erase markers again?” “Sh*t! We’re out of paper. […]
Read More »What does your traditional maintenance process look like this time of year? Are you manually scheduling maintenance requests and assuming your residents and vendors communicate efficiently? Is this how you’ve always done it? We’ll bear with you, it’s hard to break the cycle. That’s why we created this checklist — to help you manually keep […]
Read More »Running a profitable, successful property management business isn’t an easy task. When you analyze your bottom line, is maintenance the most significant challenge? Your traditional maintenance process is “mild” compared to this hot market. The spreadsheets, constant phone calls, and the back and forth scheduling are overwhelming and bland. We’ll let you in on a […]
Read More »What is the importance of efficient maintenance? A maintenance strategy is the preservation of work involving the identity, resource, and execution of repairing, replacing, and inspecting. As you scale your property management company or simply maintain it, efficient maintenance is critical. In an effort to expand the production of your property management business, you will […]
Read More »South Dakota property maintenance software company awards property manager customer Excellence in Maintenance Award at PMMCON, an annual national property management conference, on Friday, May 21 at The Gaylord Texan Resort & Convention Center in Dallas, Texas. Property Meld, a smart maintenance property management start-up company located in Rapid City, SD, awarded their annual Excellence […]
Read More »The clock is ticking, turnover season is about to commence. You know the drill. 80% of residents move in and out over the summer months. Are you ready for this uptick in your turnover process? If not, your team will be scrambling to keep track of the painters, cleaners, and repairs while keeping a grasp […]
Read More »We’ve said it before, but it’s worth repeating that online reviews are currency in today’s digital world. In one study, 78% of prospective residents said a property management company’s online reviews were the biggest factor in choosing where to live — rising to 86% for millennials. This means resident satisfaction is critical. In the property […]
Read More »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, rent price was the […]
Read More »You may have heard us touting the importance of the correlation between the speed of completion and resident satisfaction. We’ve also preached about how resident satisfaction is essential to growth and how a healthy utilization rate is key to having a profitable property management business. But have you stopped and given much thought to what […]
Read More »If you are a property manager or own a home that is used as a rental, you probably have experienced a few of your own. We scoured the internet to find a few stories to share from some people just like you (because everything on the internet is true, right?). Enjoy! 1. I started managing […]
Read More »Ray Hespen, Co-founder and Chief Executive Officer of Property Meld, joined 27 United States Senators and three other witnesses from across the country in the Subcommittee on Communications, Technology, Innovation and the Internet’s hearing titled, “Betting on the Rest: Expanding American Entrepreneurship Outside Tradition Hubs.” The hearing aimed to examine the venture capital gap between different geographical regions in America, how COVID-19 could redefine this gap, […]
Read More »Wouldn’t it be wonderful if your maintenance process moved as smoothly as a conveyor belt? A work-order request enters on one end and a happy resident exits on the opposite side. Well, we are here to tell you it can.
Read More »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 residents 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 »At Property Meld, we constantly analyze millions of service issues to learn how to craft the most efficient maintenance operation possible. One area of particular interest due to its high-cost potential is that of HVAC. But what exactly does efficiency look like? It depends on who you ask. Nonetheless, we believe one measure of efficiency […]
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. Rate Your Current Maintenance Process Here Enter the concept of key performance […]
Read More »Running your maintenance operation and any other sort of business is quite similar. Are you hitting the business mark?
Read More »At Property Meld, we believe that if you want your property management business to be successful, there’s perhaps nothing more vital than ensuring your tenants are satisfied with the condition and upkeep of the space they ultimately call home. Find your score. What has us so convinced? We have the numbers to back it up. […]
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 vendors to see the light, too. What’s In It For Me? The […]
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 »What fundamentals of a quality follow-up process ensure you get 5-star reviews and shed the 1-star reviews.
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 »Vacant properties pose to be an issue because of the obvious loss to your monthly income. Over time that loss of income escalates to a dangerous point for a property owner.
Read More »Planning a renovation can be a costly upgrade but it can feel like the only solution. Here are some tips of what to rejuvenate versus what to renovate.
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.”
Read More »Online reviews are great, right? You can read reviews on that product you want to buy, and get all of the inside tips on what a companies advertising isn’t telling you. That’s awesome! Until someone is online reviewing your business, and it’s not good. Rate Your Maintenance As a matter of fact, it’s terrible, exaggerated […]
Read More »Winter is coming. With the winter months come extreme weather conditions, holiday travel, and additional hours of darkness. These conditions open the door to maintenance problems that affect many properties such as frozen or burst pipes, broken heaters and furnaces, and iced-over roadways and sidewalks. In addition, insulation, plumbing, roofing and HVAC/furnace units need to […]
Read More »Let’s take a look at what residents have encountered, and what has literally broken down in the world of property maintenance. The top five Meld categories we experience year round: #1 . Appliances Appliances includes all major items such as refrigerators, stoves, washers, dryers, dishwashers, and all related items. Things break down, and given the many moving […]
Read More »We asked some of our clients to give us their experience with property management and their maintenance process.
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