Property Management and the Service-Level Equation

By Mike Kirk – Director, Property Management Division, Fast Water Heater Company

If you’re a property or facilities manager… 

 …you know how important on-demand response for emergencies is. One thing I regularly hear from clients goes like this: If I had one week where I didn’t have to put fires out, I’d be able to catch up on so many important things.

For property management companies, there is a constant tension between managing maintenance expense and providing great service to residents, and it is always made worse by the endless roster of service providers who overpromise, then underdeliver. Many plumbing and HVAC outfits love the idea of contracting with multi-family or commercial clients, not realizing that these customers are very different from the average homeowner. Poor service always adds up to two things: greater costs for the management company and increased risk of client loss. 

For those of you who prefer a simple formula:

Delayed maintenance + slow emergency response times = reduced occupancy rates & higher costs 

If your service providers aren’t dialed in to your maintenance needs…

…then emergencies such as leaks, equipment failure, or outages are more commonplace. According to as study conducted by the Insurance Institute for Business and Home Safety, water damage due to lack of maintenance ranked second only to wind and hail for property damage claims. Of the claims studied, 69% were due to water heaters not replaced past their prime.

 Bottom line these are preventable.

Any property management/contractor agreement should begin with a clear understanding of your needs. There are companies out there that can handle those needs, and companies that can’t.

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How do you find plumbing, HVAC, and maintenance companies that can meet your needs?

Ask Tough Questions!

  • How does your company fit high-volume jobs into a tight schedule? 
  • What (software?) system do you use to catalog my units and ensure scheduled maintenance? 
  • When there’s an emergency, how do you give my tenants priority service?
  • Can you tell me about your other clients who manage multi-family properties?

Providers don’t have to be huge companies that use fancy systems, but they should be able to answer those questions with some detail. If they can’t, run.

To learn how Fast Water Heater provides the highest service levels in the business, call or email Kielan Stewart at 866-554-2448, or fastpm@fastwaterheater.com 

Call (866) 554-2448
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