The property management industry is seeing unprecedented levels of labor shortages of maintenance personnel during a time when the need for maintenance services has never been higher. How does an organization provide a high level of service when there are so few maintenance personnel available?
The answer is innovation and adaption; ubiquitous mobile technology and an increasingly tech-savvy population of tenants, maintenance techs, vendors, service providers and property managers provides a fertile ground for growing efficiency.
After the housing crash, investors rushed into the scattered single family rental (SFR) space. Experts predicted that as soon as property values rose, investors would liquidate their portfolios because scattered SFR maintenance is difficult. Maintenance technicians spend 2-4 hours of their day on the road, so they believed the cost of servicing these portfolios would kill their margins.
What actually happened: the SFR market boomed. Scattered SFR operators have innovated. They are struggling with maintenance labor shortages so their strategy is to use maintenance teams across geographic areas, to outsource when necessary (some choose to completely outsource their maintenance to companies such as OneCall Construction), and to use technology to optimize the synergy between teams and service providers. Here are some of their methods:
In the past, technology wasn’t available to support all of these needs. Maintenance systems that were mobile enabled and allowed collaboration between you and your service providers hadn’t existed. The market is changing, technology is evolving, and it may be time to see how techniques from other markets can be applied to Multifamily.
Ken Murai is the founder and CEO of Facilgo, Inc., the only integrated solution for maintenance, turns and renovations with functionality spanning from inspections to work orders to procurement and more.