A New Year’s Resolution for Property Managers

When you look back on the past year, what hit your budget the hardest? Was there a particular maintenance issue you found yourself dealing with multiple times? Were there any operational tasks you feel could have been simplified? Are you confident that the majority of your time in the office was spent efficiently? As a property manager, these are all important questions you should be reflecting on in order to identify ways to optimize building management processes for 2020.

Being a vendor to the property management industry, the TrustHab team has spent many hours conversing with national property managers to identify their biggest pain points. Vacant unit management and needing to cut down on maintenance staff over-time hours seemed to be two of the most commonly-reported areas in need of improvement (among many others).

When analyzing the two, both revolve around the desire to use time more efficiently. It’s no secret that property managers are faced with an array of responsibilities on a daily basis, not to mention the chaos that lands on their plate during high-vacancy periods like the turn. Keeping up with tenant-occupied units presents enough of a challenge for property staff, let alone being able to continuously monitor those units that are sitting empty. As many building managers are aware, just because a tenant isn’t present in a particular unit, there are still many maintenance malfunctions that can silently brew… especially if left undetected. With that being said, it isn’t surprising that a more efficient way to manage vacant units was (and still is) at the top of the list for most property managers.

We all have things in our home that we know we need to tend to, but maybe push them aside as other items are prioritized. The same is true in the world of Student Housing tenants. With the typical schedule of a student requiring them to bounce back and forth between the library and the classroom, it’s common for them to procrastinate on reporting any existing maintenance problems… until it becomes an emergency. Cue the after-business-hours maintenance service calls from tenants (or even parents). If maintenance service calls could be confined to normal business hours, property managers would see a significant reduction in man-hours and an increase in resident satisfaction.

So if you were presented with an opportunity to install a solution throughout your property that would solve these common pain points and help you maximize revenue potential by the end of 2020, would you do it? It seems like a no-brainer, and it is. As ‘smart home’ technology continues to take the world by storm, properties everywhere are being retrofitted with smart energy management solutions like TrustHab. Leverage the power of smart devices in combination with a robust reporting software to push key data to your management teams; providing enhanced visibility that empowers you to avoid unnecessary maintenance costs, improve resident satisfaction and significantly increase NOI. Make it your New Year’s resolution to invest in TrustHab today, contact us to learn more.

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