Do you make money on maintenance of my property?
WE DO NOT.
This is an age-old struggle for many management companies. Maintenance can be a great determinant as to whether an investor’s portfolio is successful, or not! Our company has been on both sides of the equation; back in the late ’90s and early 2000’s we did have an “in-house” maintenance company. Now we “outsource” 100% of our maintenance to other vendors.
Our number one goal is attracting and keeping good residents IN our properties. The personality strengths that it takes to be great at this primary function are; excellent communication skills and very attuned customer service skills. Now, take a look at what it takes to be an EXCELLENT maintenance tech and diagnostician; construction knowledge, detailed understanding of plumbing, electrical, HVAC, sewage systems, etc. It is rare to find an individual who can perform both of these duties at a high level! For this very reason, we decided to outsource our maintenance to a competent company that will go out and gets competitive bids for our investors. What we like about this is that we can also go out and get competitive bids for property projects in addition to the bids that My Labor Resource provides and this leads to our second point of why we do not make money on maintenance.
We simply have a fiduciary responsibility to our investors to represent you and keep your “needs” in mind at all time. If we make money on our maintenance, then WHO wins if your property suffers a series of repair needs? We then would have a “vested interest” in something breaking down and not be as motivated to go out and try to get separate quotes for those issues.