article thumbnail

Residential Property Maintenance Metrics and Improving NOI (with Ray Hespen)

Fourandhalf

Ray Hespen, who is a frequent flier on The Property Management Show, joined us again to discuss maintenance metrics and how measurement improves resident satisfaction and owner NOI. The last time he was on the podcast, in late 2023, his team was just beginning to establish this concept of maintenance analytics.

article thumbnail

A must-have property management preventive maintenance checklist to avoid costly repairs

Buildium

If youve been in the property management business for a while, youve probably witnessed firsthand how proper preventive maintenance can make or break a property’s success. Too often, property managers get trapped in the costly cycle of reactive maintenance, scrambling to address issues that could have been prevented with regular upkeep.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Critical Insights for Property Managers: Leveraging Tech and Communication to Boost Resident Satisfaction 

Lula

Effective maintenance significantly reduces churn, with satisfied residents being 38% less likely to consider moving. Timely responses and transparent communication regarding maintenance requests dramatically improve satisfaction levels, with 89% of residents attributing satisfaction to time it takes to complete a work order.

article thumbnail

Understanding Non-Occupancy Charges in Housing Societies

ADDA

Purpose of NOC: Cover additional administrative and maintenance overhead. Maharashtra: Legally Capped at 10% Governing Law: Maharashtra Cooperative Societies Act, 1960 Key Regulation: Government Order under Section 79A dated 1 August 2001 caps NOC at 10% of the service charges component of monthly maintenance.

article thumbnail

8 practical use cases for AI in property management that you can try today

Buildium

For example, property managers can now use natural-language processing chatbots to resolve common tenant issues, machine learning algorithms to predict maintenance issues, and computer vision to offer virtual tours to rental applicants. Predictive Maintenance All properties suffer wear and tear over time, making repairs inevitable.

article thumbnail

Property management workflow automation: Tips to automate and save time on repetitive tasks

Buildium

Instead of manually assigning maintenance tasks, your system routes them based on issue type and availability. Application Review and Leasing Workflows The leasing process moves quickly and requires coordination across several touchpoints. Automation helps you standardize your approach and reduce errors.

article thumbnail

5 Best Maintenance Practices to Keep Tenants Happy

Rental Housing Journal

5 best maintenance practices to keep tenants satisfied and keep the property owner and management out of legal trouble. Below are five areas where good maintenance practices will keep tenants satisfied and the property owner out of legal trouble. Prioritize Maintenance Requests Determine whether the need is urgent or an emergency.