Today we’re talking about the different approaches we take in handling service requests. For a landlord who works with a property management company, there are several different ways that we take care of repair work on your property.
We have individual owners with one or two properties that we manage and they often have a set of vendors that they prefer to use. This model works very well when it’s specific. When the property needs a service individual who is great with plumbing or HVAC or electrical, it’s cost effective to use a landlord’s preferred vendor. We can all count on the low costs, timely work and high quality and craftsmanship that the specific vendor brings to the property. This works when properties are turning over between tenants and a few different skill sets are needed. In some cases, these individual vendors don’t work out because they don’t last long. They might disappear after a few months without telling anyone, and when the landlord needs work done, they are nowhere to be found. It’s not a sustainable model, and many of the landlords we work with realize this and allow us to pursue a different path.
Some of our property owners are large operators. They are typically REITs or someone with a sizeable portfolio of 30 properties or more. Many of these organizations have their own team in place locally. They have the skill sets they need and they just partner with us to get the work done at a property we manage. We do this quite well. We love this arrangement, especially when they understand the obligation of the landlord to respond to maintenance issues.
After years of experience with maintenance, a property management company will often have an in-house handyman to manage the daily service requests that come in. This allows us to get to the property as fast as possible and it’s especially useful during turnover. A turnover that could take weeks or months will take a lot less time if it’s properly managed with a local in-house team. We have the advantage of execution and the costs and time spent are less.
Finally, we utilize the skill set of outside vendors. There is no way that we can be experts in every field, and we don’t want to be. That’s why we keep a list of reliable outside vendors who can do the work our properties need. We do know that in property management, 90 percent of the issues that come about can probably be addressed with a team like this. We use vendors for major items that come up like foundation issues where we consult an engineer or someone who can give us a professional certified review of the situation.
A combination of maintenance teams and vendors is what we opt for. This work is capital intensive and the skill set is also intensive. It helps us to bring the most value to our customers.
If you have any questions about maintenance or repair issues, please contact us at Phoenix Property Management, and we’d be happy to tell you more.