The unpopular truth is that, by working in rental portfolio management, you’re going to be working in inspections and maintenance management too. Few property managers rejoice in this element of their role – particularly since it brings no additional income – and many neglect it to their detriment.
Let’s take a look at a few of the myths and misconceptions surrounding inspections and maintenance that have led to this unnecessary (and potentially harmful) attitude.
1. Inspections are just bureaucratic hoops to jump through
It’s true that incoming and outgoing inspections are legislated in the Rental Housing Act. Not doing them puts investor at risk of non-compliance and being left to foot the bill for any damages left by tenants.
Inspections can do much more than just unlock access to your tenant’s deposit if necessary, however. They’re actually a very powerful tool for protecting and even enhancing a rental asset.
Regular inspections – say, every six months – enable rental managers to proactively identify emerging issues before they become real problems. Whether that’s spotting a touch of mould from poor bathroom ventilation to identifying a tenant’s black thumb, it allows for quick – and affordable – fixes that prevent nasty surprises down the line.
Touching base with tenants on a regular basis also enables agents to identify strategic property improvements that could help investors with tenant retention and enhance their asset’s long-term value at the same time.
2. Maintenance management is extremely time consuming
This one is less of a myth and more of an unnecessary reality for property managers without access to modern maintenance management tools. Juggling maintenance requests coming in via SMS, WhatsApp, phone calls and SMSs, and then liaising back-and-forth with tenants, contractors and investors to get access, quotes, go-aheads, action and payment is a nightmare.
But it’s not the only way anymore.
Modern Inspections and Maintenance management solutions (like RedRabbit) consolidate the entire maintenance management process online, all the way from logging the initial issue to requesting quotes, to approval, completion photos and final sign-off. These platforms store key information like geyser brands and appliance serial numbers to reduce reliance on tenant input (and agent enquiries). They also handle all communications and reminders centrally to streamline every step of the process, keeping all stakeholders appropriately informed and engaged at all times.
The best maintenance management solutions also offer comprehensive maintenance reporting, enabling investors to see exactly what’s been done, why, and how much time, money and effort it has saved them. This can be extremely valuable from a property management business perspective. (More on that, below.)
3. Inspections and maintenance management are not profit-driving activities
This may be true for old-school property management businesses, but for property managers using leading Inspections and Maintenance Management solutions, these services can have a very positive effect on profitability.
How? By improving efficiency, reducing workloads and overheads, and delivering visible value to clients through tangible time and cost savings and improved ROIs.
Those satisfied clients are the ones who will sing your praises to their networks, increasing your market share and helping to scale your business. Those are the clients who will stick around for the long-haul, building financial security through lasting relationships. Those are the clients who will never quibble over paying fair rates for the efficient, professional and value-adding service they know they receive.
Those are the clients who drive successful, profitable and sustainable property management businesses.
Isn’t it time you made those clients yours?
Get in touch to find out more about South Africa’s leading Inspections and Maintenance Management solution, now available exclusively through WeconnectU.