Calendar icon March 23, 2023

How to Value Property Management Company

Looking to sell, buy, or acquire a property management company? Or maybe it’s not something immediately on your radar, but you want to be ready down the road. 

With the market volatility right now, many business owners are looking toward their long-term goals. Maybe they want to expand to new markets. Maybe they want out of the game altogether. Or, maybe they simply want to get a clear valuation of their company to be ready for market changes. 

Today we’re talking with Jock McNeill, the VP of Acquisitions at PURE Property Management, about how to value a property management company. Jock has completed  over 70 property management acquisitions and has tons of insight into valuation models and buying and selling property management companies.

Key Learning Objectives:

  • What top factors drive the value of a PMC?
  • Do specific business models work better for acquisitions?
  • How do you calculate the value of a PMC?
  • How do you increase the value of your PMC before a sale?
  • How to sell your PMC
  • How to buy a PMC

Meet the Expert: Jock McNeill, PURE Property Management

Jock McNeill is the VP of Acquisitions at PURE Property Management, Inc. In his role, Jock has completed  over 70 acquisitions at PURE and even more prior to joining PURE. Within the property management industry, Jock has years of insight and advice to share.

Factors that drive the value of Property Management Company 

McNeill says: “Several factors help us determine the value of a property management company, including revenue, profit margins, average rents, portfolio diversity, growth potential, leadership, and their team and team structure.”

You can think of these as success metrics in determining “What is my company valuation?” Here are the most important factors to consider.

Well-Defined Strategy and Goal   

With an industry as fragmented and complex as property management, PMCs should show a clear strategic plan for differentiating their niche in the market. What is their unique value proposition in their area, and how do they sell clients on that value? 

For your own PMC, ensure that you know why a client should work with you. How are you different from other PMCs, and who is your ideal client? Having a clear business plan from the outset helps define your strategy and goal. 


Before valuing a property management company, you need to determine profitability. Evaluate financial metrics like gross revenue, profit margins, cash flow or EBITDA, and debt-to-income ratios.

McNeill explains how they evaluate this at PURE: “We evaluate proforma financial statements and arrive at a percent profitability based on adjustments we can make by removing ‘seller benefits’ such as vehicle leases, personal expenses, etc.”

Two of the biggest red flags in terms of valuation, says McNeill, are “low revenue per door managed and low profit margins. [These] can keep a business on the lower end of the valuation scale. These are often driven by low average rents and high labor costs.” 

Business Model and Team Structure

Speaking of high labor costs, determining overhead costs is a critical part of the valuation. 

McNeill explains, “PURE uses our experience in running multiple branches of varying sizes to determine the best way to staff and run an office. That experience influences the assumptions we use to determine how a company will perform as a PURE branch.”

At PURE, they look for PMCs with portfolio or pod structures. “Portfolio or pod-structured companies fit best with our model, so they are more attractive,” says McNeill. “Most of the companies we evaluate are portfolio or hybrid supported by virtual assistants.”

Proximity to Key Markets

A key indicator for buyers is to look for PMCs in markets where there’s plenty of demand for real estate services. Does the area have strong population growth? Lots of single-family homes? Your region’s Comprehensive Annual Financial Report (CAFR) is a good resource for identifying what areas are heating up or cooling down in the rental market. 

It’s also key to see a demonstrated network within those key markets. Property management is still largely driven by personal contacts and business relationships. Having strong contacts and connections in key markets is an important sign of growth potential.

Future Growth Potential

And, of course, signs of growth potential are critical to a PMC’s valuation. Many buyers are thinking about company value related to size

According to McNeill, “Growth potential can influence how we approach a deal. If we can grow organically and quickly in a market, that can be very attractive. What a seller may perceive to be a problem in their business can be the acquirer’s opportunity. Maybe the issue is as simple as better systems, we can help with that.”

Growth potential can be in the form of the real estate market in the area, but also opportunities to grow the business with existing properties. We’ll explore strategies like ancillary property management fees and services in the section on how to increase the value of a PMC. 

How to Calculate the Value of a PM Company     

Next, how do you start calculating the value of a PMC? Another resource we love is this piece by Peter Lohmann on valuing a property management company. In it, he lists all the factors you need to keep in mind when valuing your own or another PMC.

To get started, write down your answers to the following questions. (This could refer to your PMC that you want to sell or a PMC you are interested in purchasing.)

  • How old is the business?
  • What is the size of the business (total units under management)?
  • What is the customer concentration (units per client)?
  • What type of rental property mix does the PMC manage (Single Family vs. Multifamily)?
  • What is the rental property quality (A class, B class, etc.) & average rents?
  • What is the management fee structure & is it standardized across clients?
  • What existing management fees does the business have relative to the market rate?
  • What is the average investor/client tenure with the company?
  • What standards does the company have for the quality of bookkeeping & accounting (ideally, conforming to the NARPM Accounting Standard)?
  • What is the company's reputation in the local market (Google reviews, etc.)?
  • What is the involvement of the seller (or yourself) in day-to-day activities?
  • What is the revenue makeup (brokerage income, maintenance income, etc.)?
  • What is your willingness/the willingness of the seller to sign a non-compete clause?
  • What payment terms/seller financing?
  • Are there clawback provision terms?


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Increasing the value of a property management company before the sale   

For owners of a PMC looking to sell, your first goal is obviously to increase the value of your business as much as possible before the sale. 

Keep in mind, though, that increasing your company value doesn’t need to become a barrier to selling. In fact, McNeill warns not to be too perfectionistic on that front.

“One of the biggest misconceptions is that valuation is only based on revenue, and you have to have your business in perfect condition to sell,” McNeill says. “There are many factors that influence valuation, but for PURE, revenue and profit margins are most important. We’ve also seen a lot of potential sellers stall in early discussions because they want to wait to get their shop in order, implement new initiatives, or clean up their books. It isn’t always necessary, and trust me, we’ve seen it all.”

Here are some industry tips for increasing your PMC’s value to buyers or investors. 

Invest in your business infrastructure

By this, we mean that you should invest in technology and people. Reinvesting in your business will make it healthier and more valuable to potential investors. 

On the tech side, you could adopt new property management software, update your current tech infrastructure, or integrate the newest AI-enabled tools. 

On the people side, you don’t necessarily need to hire more employees. Rather, ensure that the people on your team are as equipped as possible. Invest in excellent recruiting and onboarding processes, ensure you have robust training programs, etc.

Integrate ancillary services

We’ve talked a lot on our blog about how to develop ancillary programs to drive income. Ancillary fees aren’t just a cash grab – they’re a way to add needed value for residents and investors while driving profit for your PMC.

Ancillary property management services can include things like:

  • Renter’s insurance programs
  • Credit-building 
  • Supportive services like air filter delivery
  • Resident rewards
  • And more!

One of the best value-added services is to integrate a resident benefits package into your program. 

Develop marketing strategies

You should be able to show potential investors that you have a strong marketing plan that has proven to grow your business over time. Your marketing strategy should include a content plan, distribution, social media strategies, networking events, and more. 

Pay attention to things like your reviews and online reputation as well. Marketing your property management company well will pay off in dividends when you are ready to sell.

How to sell a property management company 

Completing a thorough valuation is just the first step in selling a property management company. If you’ve done the work to value your PMC, the next steps will be much easier. 

Whether you're looking to retire or simply move on to a new business venture, selling your property management company requires careful planning and execution – with the following steps. 

Identify potential buyers

The next step after valuing your PMC is to identify potential buyers. The field of possible buyers may include other property management firms in your area, real estate investors, or even individual buyers looking to enter the industry.

Determine how you want to sell

In his article on valuing your PMC, Lohmann outlines the two different transaction types in how a property management company can be purchased:

  1. A stock sale. In a stock sale, the buyer will purchase shares of your business. They take on all past liabilities of your company but also get to hold onto your brand, contracts, and vendor relationships. The depreciation of long-lived assets is not reset.
  2. Asset sale, also known as Goodwill. In this case, the buyer buys your “book of business.” They’re paying for the property management agreements or contracts your PMC holds. If any of your contracts aren’t assignable, you’ll need to get an individual agreement from those investors. 

Prepare your PMC for a sale

Next, you'll want to prepare your property management company for sale. This may include making necessary upgrades to your facilities, improving your management processes, and ensuring that all financial records are up-to-date and accurate.

According to McNeill, the question you should ask yourself is: “How can I best tell the story of my company to a potential buyer? Are my financials detailed, and can I show a buyer I have great margins (or how they can achieve them)?”

Work with a qualified broker or attorney

Finally, when it comes time to negotiate a sale, it's important to work with a qualified business broker or attorney who can help you navigate the complex legal and financial aspects of the sale. With their guidance, you can ensure that you get the best possible price for your property management company while also protecting your interests and ensuring a smooth transition of ownership for your employees and clients.

How to buy a property management company 

But what if you’re on the buying side? Buying a property management company can be a great investment opportunity, but you can’t sleep on due diligence. Before you start the process of purchasing a property management company, there are several key steps you should take to ensure that you make an informed and profitable decision.

Research thoroughly & find a PMC that fits

The first step in buying a property management company is–like with anything–to do your homework. Thorough research on PMCs involves identifying potential acquisition targets, analyzing their financial performance, and evaluating their market position. 

You'll want to look at factors such as revenue growth, profit margins, and client retention rates, as well as any potential growth opportunities that may make the company more valuable in the future. Basically, everything we covered in the sections above!

If you already run a PMC, you want to make sure the business model can integrate with your structure. But again, McNeill cautions against being too rigid on this one.

“We have yet to see a company that does everything the PURE way after over 60 acquisitions. Our partner integration team jumps in quickly and has a plan in place before we close a deal. If a seller has already implemented similar ancillary revenue models, such as a resident benefit package, etc., it means we can optimize that faster than rolling it out from scratch. Our proven platform includes the people, processes, relationships, and technology to consolidate, tech-enable, and optimize the companies we acquire carefully and thoughtfully. We have an all-star team of industry insiders, innovators, and leaders already in place, so when we bring on new teams, the integration is pretty smooth.”

Conduct due diligence and identify liabilities

Okay, so let’s say you’ve identified a potential PMC you’d like to buy. Now it’s time for due diligence. This involves reviewing financial records, contracts, and legal documents to ensure that there are no hidden liabilities or risks associated with the company. Additionally, you'll want to evaluate the quality of the company's management team, as well as its operational processes and systems.

Determine fair market value

After completing the due diligence process, you'll need to determine the fair market value of the property management company. This involves taking into account a range of factors, including its current and projected financial performance, market position, and growth potential. Once you have a clear understanding of the company's value, you can begin the negotiation process with the seller.

Work toward a smooth transition

Finally, once the sale is complete, it's important to take steps to ensure a smooth transition of ownership. This may involve working with the existing management team to establish clear roles and responsibilities, as well as communicating with clients and stakeholders to ensure that they are aware of the change in ownership.

According to McNeill: “A buyer should make sure they have the foundation in place to integrate an acquisition into their existing operation. Look for opportunities to add value for the clients and residents, and that will turn into value for you as a buyer. Anything you can do to create a simple and satisfying experience for clients and residents will help with the anxiety that can come with a sale.”


Ultimately, the value of a property management company will depend on a range of factors, and there is no one-size-fits-all approach to valuation. But the bottom line is that by following a structured and analytical approach, you can feel confident in your valuation, which will help you make informed decisions about buying or selling the business. 

Whether you're a business owner looking to sell your property management company or an investor looking to make an acquisition, a proper valuation is essential to ensuring a successful transaction.

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10 Best Property Management Maintenance Software

In the property management world, tech solutions abound. There are so many different players on the market, but sometimes, that wealth can be tough to navigate. When it comes to property management maintenance software, single-family property managers have to identify, first, how they approach maintenance and, second, what tech solution will best support their team, workflows, and operational structure. It’s a daunting task! That’s why Second Nature builds integrated solutions to support residents in preventing issues from ever developing. These solutions reduce maintenance needs through preventive maintenance strategies and take work off the property manager’s plate. But no matter how much prevention you build in with tools like our Resident Benefits Package, you’re always going to need some maintenance management. So, today, we’re going to look at some of the best approaches you can take and the best software available to you for property management maintenance. Property management maintenance software solutions come in two basic categories: Platform Solutions: Property management operations platforms or accounting software that include maintenance support, among other full-service property management solutions. Dedicated Point Solutions: Property management software designed to tackle one specific problem – in this case, maintenance. We’ll explore solutions that fit into both of these categories and how to weigh the pros and cons of each. 1. Property Meld Property Meld is a leader in the small to medium-sized property management business space. It’s a maintenance point solution to optimize work order management, response time tracking, vendor and resident communication, scheduling, and analytics. Its built-in “Owner Hub” helps provide the right amount of transparency to your clients. Perhaps the best feature is the Insights Tool, which helps you track metrics like the median speed of repair, average resident satisfaction, vendor health score, total spend per unit, and more. Pros: The user interface is intuitive for PMs and residents Opening repair tickets takes just minutes Tracking repairs and resident satisfaction is easy and transparent Powerful analytics help you see your success at a glance Cons: If you’re looking for a full-service operations platform, Meld won’t be the solution for you. 2. Lula Lula is another dedicated point solution focused on property maintenance technology. They leverage a network of vetted contractors to make finding the best technicians easy. Lula’s team becomes an outsourced extension of your property management company, troubleshooting, coordinating, and managing maintenance tasks. They operate in over 30 markets in the US and boast results like 80% one-trip resolutions and a net promoter score of 80. Pros: They do the work to vet and provide the vendors You can bring your own vendors in if you want to Integrates with any software Customizable plans for self-service or full-service Cons: May not yet be available in your market Only focuses on maintenance 3. Buildium Buildium is a popular all-in-one solutions platform and property accounting software with excellent management features. The web-based solution and app provide support in accounting and invoicing, communications, leasing, and maintenance activities. Their portals provide tenant support, maintenance management, and templates to make every part of property management easier. Pros: A near-complete solution for property management Excellent tenant and owner portals and communication hubs Analytics and tracking to streamline operations and results A 14-day trial helps you evaluate if it’s a fit Customizable packages Cons: Lack of transparency for owners The listing process isn’t as comprehensive as some users want Can be pricey 4. Mezo Mezo is an AI-driven, cloud-based property maintenance management software. The aim of the app is to take work off your plate by automating maintenance ticket responses, resolutions, and insights. Mezo takes requests directly from residents and uses conversational AI to ask questions in real-time, identify problems, and diagnose the issue. It will support residents in resolving the issue on their own or integrate with your management system to get work orders quickly sent. Pros: Residents can get help immediately when they have issues and potentially resolve themselves with Mezo’s chatbot support Technicians arrive with Mezo’s analysis and diagnosis, allowing them to come prepared and resolve issues quicker Integrates with most PMS options Cons: Doesn’t integrate with all other PM tech solutions As a newer technology, still has some bugs and gaps 5. Lessen Lessen, formerly SMS Assist, is an enterprise-level solution providing tech-powered renovations and maintenance at scale. It’s an end-to-end platform for maintenance operations with a vetted vendor network and provides everything you need for maintenance or turning projects. PMs simply use the app to request projects, deploy Lessen network pros, track progress and checklists, check for quality control remotely, and process payments – all in one slick tech solution. Pros: Excellent, seamless tech that’s easy to use and deploy A fully vetted vendor network takes that work off your plate An established brand that has worked out the “kinks” in service Cons: More ideal for more enterprise companies who need scale (rather than smaller SFR PMs) 6. AppFolio AppFolio is a full-service rental property management platform solution that is very popular with single-family property management companies. The web-based app streamlines and automates every stage of real estate management, including management, training, marketing and leasing, maintenance, accounting, reporting, and communications. For maintenance, AppFolio includes workflow automation, work order managemen toolst, online maintenance request, mobile inspections, and more. Pros: Easy-to-use technology with great UX Fully mobile and automated Customizable dashboards and advanced reporting Cons: An expensive platform if all you need is a maintenance point solution Customer service is not always available for maintenance line 7. Rentvine Rentvine is a full-service property management platform that focuses on communication support between PMCs, residents, and clients. The platform streamlines application and tenant screening, inventory management, accounting with a manager’s ledger and client money tracked separately, marketing, leasing, and – of course – maintenance. The app tracks all your work orders from start to finish and supports communication between residents, property managers, and vendors throughout. Pros: Easy to use with excellent customer support Owner and tenant portals work seamlessly Excellent accounting process Cons: Has fewer features than some competitors but is continuously improving 8. DoorLoop DoorLoop is another full-service property management software that provides all the features a property manager needs to manage their portfolio. You can handle accounting, maintenance, listings, marketing, client success, and more, all from the app. For property management maintenance, their software helps manage work orders, handle vendor payments, and track the process from start to finish. Pros: Intuitive, streamlined UX that’s user-friendly Great customer service Excellent integrations Cons: Expensive if all you need is a maintenance point solution rather than a full platform Some functionalities are still being developed 9. FTMaintenance FTMaintenance is a computerized maintenance management system (CMMS) point solution platform designed for maintenance managers, executives, and technicians. While it’s not specifically designed for property management, the software streamlines work order management, vendor payments, tracking, and more. For some PMs, this could be the added solution they need to focus simply on complex maintenance jobs. Pros: Robust work order tracking Excellent mobile app for vendors and maintenance managers Analytics and organization Cons: Not designed specifically for property managers, focused more on commercial properties Complex if you are not tech-savvy 10. UpKeep UpKeep is another CMMS point solution focused entirely on managing maintenance. It’s not designed specifically for property managers but may have the features you need if you’re looking for a maintenance-specific app. Explain key features, pricing, and why it should be considered. Their web and mobile app helps manage day-to-day maintenance life cycles, work orders, payments, and more. Pros: Great work order tracking with in-depth reports and financial analysis Easy to use for maintenance scheduling and organizing work orders Cons: Not specific to residential property management Difficult to learn how to use How Second Nature Helps with Property Management Maintenance When it comes to maintenance, at Second Nature, we’re always looking to empower the resident. Our Resident Benefits Package provides solutions that minimize maintenance needs and costs in the first place. From HVAC/air filter delivery to on-demand pest control to rental rewards, we aim to incentivize residents to care for their property and take work off the property manager’s plate. We also work closely with other property management software providers to ensure you have everything you need for success in your SFR property management business. Learn more about the Second Nature RBP and how it can bring ease to your work.

Calendar icon November 17, 2023

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Preventive Maintenance Checklist for Property Management

A big part of property management is prevention. Property managers anticipate issues, plan for problems, and execute solutions. For some, a key part of this prevention is to develop a property management preventive maintenance checklist. For multi-family property managers, a regular preventive maintenance check is standard–and easy. Their properties are often all contained to one apartment building or community, and it’s easy to do a walkthrough to ensure everything is as it should be. For single-family property managers, it gets a lot more complicated. With scattered-site properties, regular inspections are impractical and expensive. In fact, one of the best ways to approach prevention is to help equip residents to take preventive measures themselves. At Second Nature, that’s our approach: “How do we make it easy for residents to handle preventive care of the property?” In this article, we’ll explore both approaches to preventive maintenance: Doing inspections as a property manager – or finding solutions where residents support the process. Let’s dive in. What is Preventive Maintenance? Preventive maintenance is a proactive approach to keeping a property in good condition with the purpose of preventing unexpected failures and maximizing longevity. This type of maintenance encompasses a broad range of activities, from routine inspections (more common in multifamily) to air filter delivery services that keep HVAC systems running smoothly. By implementing preventive maintenance tactics, property managers aim to prolong the lifespan of property components, maintain property value, and provide a safe, functional, and appealing living environment for residents. What is a Preventive Maintenance Inspection – and Who Conducts It? A preventive maintenance inspection is a regularly scheduled, systematic evaluation of a property designed to identify and rectify any emerging issues before they escalate into serious problems. In other words, a preventive maintenance inspection is like a health check-up for a property. A well-documented inspection also provides a record of maintenance that can be valuable for insurance claims, move-outs, etc. Generally, SFR property managers find themselves in three different camps when it comes to property inspections: Those who visit sites only when an issue arises. Those who conduct scheduled annual preventive inspections, whether there are issues or not. Those who conduct biannual or seasonal preventive inspections, whether there are issues or not. But there’s also a fourth option: Those who rely on a partner who helps manage prevention for them. There is so much residents can do themselves to prevent larger issues from ever developing – they just need a little support. For example, if a resident is changing their air filter on time, the property manager is going to get fewer HVAC tickets, and the HVAC system is going to last longer. If you can provide scheduled air filter delivery, residents can stay on top of their filter changes. Whichever of the camps you fall into, we want to provide you with resources in this article to make preventive maintenance easier. If you’re the type of property manager who prioritizes regular preventive maintenance inspections, we have a checklist template for you below. If you’re the type of property manager who prefers to react when issues arise (often more cost-effective), we have some suggestions for how to help residents manage preventive measures on their own. What to Include in a Preventive Maintenance Checklist Let’s say you do prioritize regular inspections. Crafting a preventive maintenance checklist for property management is all about anticipating needs and averting potential issues before they arise. Building your checklist begins with a thorough assessment of the property's unique features and vulnerabilities. By understanding the life cycle of various components of a property across the seasons – from HVAC systems to appliances – you can prioritize tasks and schedule maintenance in a way that minimizes wear and tear. Your checklist will likely include the following categories: Structural Maintenance Electrical Systems Plumbing & Water Systems HVAC Systems (Heating, Ventilation, and Air Conditioning) Appliances (if provided) Lawn & Outdoor Areas Pest Control Safety & Security Systems Interior Checks Miscellaneous (Garage, waste disposal, etc.) Sample Preventive Maintenance Checklist for Property Management Companies With input from OnSightPROS, we’ve built a preventive maintenance checklist template for single-family rental property management companies. Use this template as-is or tweak it to fit your property needs! If you want a downloadable and more in-depth template for all types of rental inspections, check out our original post on rental inspection checklists and Get the download here. Structural Maintenance Roofing: Inspect for leaks, damaged tiles, or shingles. Check gutters and downspouts. Foundation: Check for cracks, water damage, or shifting. Walls and ceilings: Look for cracks, dampness, and signs of mold. Electrical Systems Safety checks: Ensure that outlets, switches, and wiring are in good condition. Lighting: Regularly test all indoor and outdoor lighting fixtures. Inspect circuit breakers and panels. Plumbing & Water Systems Drains and pipes: Check for leaks or buildup. Water heater: Test hot water temperature and pressure relief valves and inspect for signs of wear. Faucets and fixtures: Ensure proper flow and check for leaks. HVAC Systems (Heating, Ventilation, and Air Conditioning) Filters: Ensure they are up to date. With Second Nature’s Air Filter Delivery, you’ll have the date stamped right on the filter itself. Ductwork: Check for mold or leaks. Seasonal checks: Ensure the heating system is ready for winter and cooling for summer. Appliances (if provided) Oven, range, microwave: Check for cleanliness and ensure they are working efficiently. Refrigerator: Check coils and inspect seals. Washer and dryer: Inspect hoses and ensure the resident is keeping lint and drainage clean. Lawn & Outdoor Areas Landscaping: Ensure that the landscaping is tidy and up to HOA standards, if applicable. Paths and driveways: Check for cracks or tripping hazards. Pools: Ensure safety measures are in place. Pest Control Notice any signs of pests With Second Nature’s On-Demand Pest Control, you can be sure residents can call a professional immediately if they ever have issues. We handle it for you. Safety & Security Systems Smoke and carbon monoxide detectors: Ensure residents have kept up to date and they are installed properly. Fire extinguishers: Check expiration dates and ensure they're easily accessible. Emergency exits and paths: Ensure they're clear and well-marked. Interior Checks Floors: Look for damaged tiles, caulk problems, carpet wear, or wood floor issues. Windows and doors: Ensure they open and close smoothly, and check seals. Miscellaneous Garage and parking areas: Check for proper lighting, security, and cleanliness. Waste disposal: Ensure trash bins are clean and in good condition. The Importance of Preventive Maintenance Did you know that something as simple as getting air filters delivered on time can reduce HVAC costs by hundreds of dollars annually? More on that in a minute, but it’s clear that for property managers, preventive maintenance isn’t just about keeping the property in good shape—it's a strategic approach that yields all kinds of benefits. By prioritizing prevention, you can: Minimize costly repairs: Regular maintenance can prevent small maintenance issues from escalating into expensive emergencies. Extend asset longevity: Helping residents proactively care for components like HVAC systems extends their lifespan, saving money in the long run. Enhance resident satisfaction: Supporting a resident in maintaining their property means fewer complaints and issues, leading to higher retention rates. Ensure safety: Regular checks keep safety hazards at bay, reducing the risk of accidents and liability. Improve property value: Consistent upkeep maintains or even increases the property's market value. Stay compliant: Keeping up with building codes and safety regulations is non-negotiable, and preventive maintenance ensures compliance. By incorporating a preventive maintenance strategy, property managers not only safeguard the property's physical health but also its financial viability and desirability in the market. It's a proactive measure that resonates well with residents and investors alike. Best Tools to Support Preventive Maintenance Here’s the big question: How can property managers for single-family homes make preventive maintenance easier? Scattered-site properties don’t lend themselves to regular inspections. So, the best solution, as we mentioned above, is to help your residents do it themselves. Here are three of our favorite products to get that done. Second Nature We’ve built a Resident Benefits Package with proactive property management in mind. Each feature – from renter’s insurance to on-demand pest control to air filter delivery – aims to address ongoing needs and prevent common issues from escalating. Let’s take air filter delivery as an example. In the largest HVAC data study of its kind, filter delivery service reduced HVAC ticket requests by 38% Just by including a filter subscription for your residents, you can help them cut energy costs and ensure your HVAC system lasts for the long term. Learn more about all of the features of our Resident Benefits Package and how it delivers results for residents, property investors, and property management companies. RentCheck RentCheck is a property inspection app built to help residents do inspections on their own. The property manager can request and track routine inspections from the resident. You can set up any cadence you want and customize the self-guided inspection requirements. RentCheck will fully automate reminders and support residents in completing a video inspection that then gets sent to you as a shareable report. zInspector zInspector is another very popular rental inspection app in the SFR property management space. Like RentCheck, property managers use zInspector to schedule, customize, and receive inspections conducted by residents themselves. The app also includes a toolkit with an evolving set of property and task management tools. You can get 360 photos and virtual tours with a compatible 360 camera and printable, customizable inspection reports. FAQs Q: What are the benefits of preventive maintenance? Preventive maintenance offers a multitude of benefits, including: Cost Savings: It reduces the likelihood of incurring expensive emergency repairs and extends the life expectancy of property assets. Efficiency: Regular maintenance ensures that all systems and appliances are running at optimal performance, which can lower energy costs. Tenant Retention: A well-maintained property leads to higher tenant satisfaction, which can decrease turnover rates. Safety: It helps identify potential safety issues before they become hazardous, promoting a safer living environment. Value Preservation: Ongoing care maintains and can enhance the property's value over time. Compliance: Ensures that the property remains in compliance with the latest building codes and safety regulations. Overall, preventive maintenance is essential for maintaining a property's integrity, ensuring tenant satisfaction, and optimizing operational budgets. Q: What is included in basic preventive maintenance? Basic preventive maintenance for property management typically encompasses: Routine Inspections: Regularly checking the structural integrity of the property, including roofs, walls, and foundations. HVAC Maintenance: Ensuring heating, ventilation, and air conditioning systems are clean and functioning properly. Plumbing Checks: Looking for leaks, clogs, or wear in pipes and fixtures. Electrical System Audits: Inspecting electrical panels, wires, and safety systems to prevent malfunctions. Groundskeeping: Checking outdoor areas, including landscaping, gutters, and drainage systems. Appliance Upkeep: Servicing provided appliances to prevent breakdowns and extend their lifespan. Safety Inspections: Verifying that all safety equipment, like fire extinguishers and smoke detectors, is in working order. These tasks are designed to identify and address issues before they develop into more significant problems, helping to ensure the property remains safe, functional, and appealing to tenants. Q: What’s the ideal schedule for preventive maintenance? The ideal schedule for preventive maintenance can vary depending on the specific needs of a property, but a general guideline is as follows: Weekly/Monthly/Quarterly: Regular checks on a weekly to quarterly basis are more common for multifamily properties and apartment buildings, with quick checks on high-usage areas and equipment, such as communal spaces and gardening upkeep. Quarterly maintenance inspections could include more in-depth inspections of HVAC systems, plumbing and electrical systems, and seasonal preparations. Annually/Seasonally: A small number of SFR property managers will conduct seasonal or semi-annual inspections. A few more conduct annual inspections (unrelated to move-in or move-out, which always includes inspections). These are more in-depth inspections to keep an eye on potential issues.

Calendar icon November 15, 2023

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