Maintenance is often looked at as the “ugly side of the business” and is wrongfully undervalued and ignored in the grand scheme of things. This is a big mistake as we have to keep in mind that technicians have the most frequent and direct interaction with your residents. Your maintenance technicians are at the frontlines of your business every day, reflecting your company’s brand image and hopefully keeping your residents happy. What if you could change that “hopefully” to a more definite sentiment while saving money in the process? To achieve this, properties require an equilibrium where they develop a balance between optimal resource allocation of maintenance and high resident satisfaction.
Effects of the cyclical pattern
After observing trends in maintenance work orders across ComVibe’s clientele portfolios, we have come to agreement that work orders follow a cyclical pattern of high and low concentration on a weekly basis. Identifying this pattern for your properties allows you to utilize optimal maintenance resource allocation to complete work orders on a daily basis and achieve a much more cost effective strategy. Being able to concentrate your best technicians on prioritized work while avoiding labor surplus makes sure your residents feel more taken care of and happy with their service experience.
This relationship can be visualized via a basic supply and demand graph where supply (S) is amount of maintenance resources, demand (D) is work order influx, P is the price of all maintenance resources and Q is the level of satisfaction (or the quantity of satisfied/very satisfied reviews). The graph is a generalized and hypothetical approach that assumes normal behaviors and represents the provided, defined variables.
The above graph displays the supply curve increasing due to maintenance technician amount optimization based on a particular property’s work order influx cycle. Optimized resource allocation allows for concentrated work and decreases your maintenance overhead cost (we have seen an average of 5% with our clients) via reduction of labor surplus (amongst other externalities). Meanwhile, satisfaction of residents and business increases (happier/empowered technicians, managers, etc.).
Effects on Externalities
– Increase in positive references. Your residents can be the ultimate tool in gaining new business, give them something great to talk about.
– Increase in positive brand recognition. Everyone has negative reviews online, do not be the company that fails to recognize their impact. Just because you may not see or hear about the problems does not mean that they do not exist. Prevent the negativity from snowballing by publishing your positive resident sentiment via ComVibe’s platform.
– Increase in learning and development. Avoid being yet another stagnant multifamily business by taking advantage of big data driven solutions, the risks of being an early adapter of technology are miniscule compared to the guaranteed rewards.
– Increase in morale, team building, and employee empowerment. Help instill pride in the work being done. If you refer to your business and employees as “good,” let me remind you that there is such a thing as “great.”
– Increase in growth potential via saved money leading to strengthened budgets to target further purchasing, investments, and land development. Ceilings are meant for your property’s units, not your business.
About the author
Anton Razanav is a Marketing specialist at ComVibe. ComVibe has effectively tamed real-time data collection and developed a solution for interactively engaging residents in the improvement and upkeep of their property while organizing and empowering maintenance crews and management with tools that promote professionalism and the maximization of staff potential. Their mobile, multiplatform system offers a simple and transparent user-friendly interface, actively connecting resident to maintenance workers while sustaining direct communication from start to finish of a particular task.