Top Benefits of Using FSM Software for Property Management
With the rising challenges of a troubled economy, inflationary pressures, worker shortages, and a volatile real estate market, managing property is...
3 min read
ServicePower
:
May 16, 2023
Property managers face numerous challenges that come with maintaining, upgrading, and renting a portfolio of properties. One of the most impactful struggles associated with rental management is the turnover process. Property managers are under pressure to reduce property turnover times and streamline the move-in/move-out process in order to maximize rental income and increase profits. However, properties often require maintenance and repairs before they are ready for new tenants, which slows down the entire turnover process and puts your profits at risk.
Successful property managers are looking to technology to automate turnover maintenance repairs and shorten the duration between tenancy. Read on to learn how field service software simplifies the complexities of property management, compresses turnover timelines, and maximizes your profits.
When it comes to managing properties, efficient turnover rates can determine profitability. After a tenant moves out, landlords cannot collect rent on the vacant property until a new tenant moves in. However, this vacancy doesn’t put a stop to the bills and maintenance costs that the property requires. On top of these costs, a vacant property also incurs greater workloads for maintenance staff and property managers. Further, the longer a property remains vacant, the more likely it is that the home or apartment will become a target for theft and vandalism attempts.
As such, efficient property turnover rates are essential to maximizing your rental income. After all, maintenance costs will always be present, and the best way to offset those costs is to keep rental properties occupied with tenants that value the space in which they reside. A clean, well-maintained property does a better job of encouraging tenants to remain in place than one that requires constant repairs and move-in delays.
Additionally, a well-planned turnover process ensures tenant satisfaction by verifying the vacant property is clean and ready for them to move in.
Property turnovers introduce an array of challenges for landlords and property managers, especially when vacancy times become extended or the move logistics gets complicated.
During the turnover process, some of the most common challenges that occur include:
Though each of these issues presents its own struggles, landlords and property managers can use technology to remedy many of the avoidable challenges that emerge during property turnovers. Software solutions can address most of these issues and streamline turnover processes, that is, aside from the communication challenge that incoming and outgoing tenants may pose.
Field service management solutions make it easy to source skilled labor and repair broken appliances, electrical, and plumbing in a timely manner. By using AI scheduling, you can easily request and book a technician to resolve an issue in one of your vacant properties. Certain companies like ServicePower even provide you with access to a certified contractor network, enabling you to access and schedule skilled contractors exactly when you need them. Qualified technicians with a mobile field service application can troubleshoot complicated issues on the first try. Improving key metrics like first-time fix rates enables property managers to streamline property turnovers and decrease vacancy timelines.
Field service software with predictive maintenance capabilities also allows for remote appliance monitoring. Technicians can remotely monitor appliance parameters, allowing them to use data to identify the best time for maintenance. This reduces equipment downtime and keeps rental units running smoothly.
Property managers seeking field service management solutions will find an array of service options available. To ensure the best possible fit in terms of management needs and solution components, look for the following service features.
ServicePower’s comprehensive field service solution modernizes property management. The tools included in the platform provide property managers and maintenance teams with everything they need to improve communication efforts, complete maintenance orders, and prepare units as quickly and efficiently as possible.
Utilizing the capabilities of AI-driven technology enables rental property teams to reduce vacancy timelines, improve property quality and tenant satisfaction, and discover new ways to deliver the best possible service.
ServicePower helps companies like yours modernize property turnover workflows. With the help of AI-driven scheduling and maintenance, you can rest assured that repairs will be completed quickly and your properties will be ready to please new tenants.
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