Are Maintenance Costs Draining Your Rental Property's Value?

Management One's Maintenance Center compiles reports and estimates for repairs.

In property management, routine maintenance can be a significant drain on your time and pocketbook. Tasks such as landscaping, regular interior or exterior upkeep, and cleaning and painting when a resident vacates the property are fairly predictable events.

However, owners and property managers must also deal with unexpected repair costs such as blocked drains, burst pipes, furnace or water heater replacement, appliance repairs, or damage from fire, water — or residents. The cost and time required to complete such repairs can really throw a curve ball.

Owners and property managers who are not prepared for both expected and unexpected maintenance requirements can spend untold hours completing the work. There are many steps involved in property maintenance:

• Sourcing contractors
• Scheduling work
• Getting the best price
• Ensuring the job is done right
• Dealing with added fees or increased costs after the work has begun

Juggling all these details for just ONE property can consume all your free time (and financial resources). But if you're working with many properties, you can quickly feel like you're bailing water on a sinking ship!

Automate the process

You need an efficient system to take care of maintenance with little involvement from you — at the best possible price. If you are a Management One Property Management franchise owner, you have that at your fingertips.

Management One's proprietary franchise software system is easy to learn, easy to use and easy to navigate. It is a complete, automated property management system that includes a maintenance cost control module.

Management One's Maintenance Center gives you access to everything you need to ensure maintenance is completed on time and under budget:

• Precontracted maintenance and repair contractors
• Prenegotiated rates to ensure the best price every time
• Quick turnaround because contractor terms are preset
• Dependable contractors and quality work

Time is on your side

When a resident moves out, the owner must complete an inspection, request bids for all the repairs and cleaning, select the contractor, and ensure the work is finished satisfactorily.

This process can take the average person as long as four weeks. When you figure in typical owner expenses such as a mortgage payment, utilities and lawn service, the average owner will lose $50 to $100 for each day the property is vacant.

With Management One's Maintenance Center, you have preset prices and familiar contractors. Therefore, you can skip estimates and contractor selection. Instead, the property manager simply tallies what needs to be done and informs the owner of the total cost. The owner emails or faxes a check for the work, and the contractor can promptly start working.

The system can shave 75 percent off the time it would take the average owner to get a unit ready for residents. In a market in which time is money (and downtime is lost money), the time saved is crucial for the owner's rental success.

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