Although property expansion may seem like a beneficial
business endeavour, it can be a daunting task, especially if you’re looking at
managing more than one location. Business owners sometimes choose to have an
in-house representative oversee these projects. However, without the right
expertise and industry experience it will be difficult to get results.
Therefore, consider the following benefits of hiring a
property maintenance company before deciding to take on any property management
yourself.
Property Management with Professional Expertise
Increased free time
Hiring a property management company allows you to make
property investments while still maintaining other commitments. These
professionals have the experience and knowledge necessary to manage the
different responsibilities of an investment property.
By allowing them to take on the necessary paperwork and
compliance regulations, you will be given the freedom to concentrate on other
important aspects of your business.
Reduce costs and resources
The large majority of property maintenance companies offer affordable
services that are designed to suit your specific investment needs.
Predetermined prices ensure you can effectively budget for a wide range of
services, allowing you to maintain regular day-to-day operations without any
unexpected interruptions.
Cost efficiencies offered by property maintenance companies
extend through multiple channels including total facilities management
solutions, labour costs, specialist equipment, and cutting-edge technologies.
Expert advice
A major key to success is having the right people available
for the job. Building management is an important service that goes beyond your
initial investment. Working with a team of experts ensures the entire process
will be managed according to business requirements and expectations.
These professionals know how to stay ahead of the curve,
reviewing industry best practices, regulations, and technological innovations
so you and your business are always prepared.
Maintain property inspections and repairs
As a business owner, you are often required to wear many
hats, leaving little room to check in on your investment properties. This often
results in the necessary property inspections and/or repairs going unattended.
Outsourcing your building management to a property
maintenance company means gaining access to a team of professionals who have
the time and resources for maintaining property upkeep.
Why should property maintenance be contracted out?
Property maintenance is often contracted when a business owner
does not have the time or resources to complete the tasks themselves. These
maintenance tasks are usually essential to the efficient operation of the
business or to the long-term sustainability of the property.
Examples of services that a maintenance contractor may
complete are:
• Lawn maintenance
• Carpentry
• Power washing
• Storm clean-up
• Sign installation
• Plumbing maintenance
• Electrical maintenance
• HVAC care
• Painting
• Snow removal
• Drywall replacement
• Facade repairs
• Graffiti removal
• General cleaning
Property maintenance contractors are not always needed year-round. Instead, your business can choose to hire them only when there is work to be done. The types of work commonly contracted include:
• Seasonal (grounds, snow removal)
• One-time work (construction)
• Low- and high-skill work
• Work requiring a license or certificate that you don’t have
in-house
• Any other function that your business cannot otherwise
complete
Hiring a property maintenance company can alleviate some of
the uncertainty that comes with caring for an investment property. With their
expertise, these professionals can provide advice on how to improve your
property, as well as which tasks to prioritize.
Some reasons to contract out property maintenance are:
• Save on costs
• The job is very expansive
• Quality of work
• Lack of in-house skill
• Lack of an appropriate license
• Lack of specialized equipment
• Reduce liability
• Reduce employee hazards
• Get expert opinions and perspectives
• Specialized training
• Minimize time expenses
• More flexibility
How to Save Money by Hiring a Property Maintenance Company
Access technical knowledge
Property management companies understand the technical
systems that go into maintaining a property. They know how to leverage the
necessary resources, while simultaneously reducing any potential costs. The
more experienced a team is in certain maintenance areas, the greater number of
solutions that can be devised.
Open communication
To stay on top of all the maintenance needs for a property, business owners must remain in contact with their property maintenance company. Having someone working on the site ensures any potential problems are identified early, and resolutions are found quickly.
Know how to prioritize
Working with a property maintenance company means you and your business
can benefit from well-established preventative maintenance programs. The
expertise and knowledge of these teams allow the most essential tasks to be
prioritized during inspections, thus ensuring all necessary repairs are
completed.
Depending on the scale of your property, and the projects
you hope to complete, you will want to partner with a firm that has similar
experience.
Legal compliance
Understanding all the regulations and laws that surround
property management is an incredibly time-consuming process. As a business
owner, your focus should be on the various departments that make up your
day-to-day operations.
Hiring a property maintenance company means you can work
with professionals who already know all the legal compliances that must be
followed.
The Advantages of Working With a Property Maintenance Company
Save Time
Managing a property can quickly become a full-time job. The
amount of time and energy involved in maintaining a space is not easy for most
business owners to fit into their existing schedules.
Site visits, inspections, repair scheduling, and other
essential tasks often require special attention. A property maintenance company
can take over the daily tasks involved in managing a property, allowing you to
focus on other important business functions.
Cost Reduction
With their extensive network of professional resources, a
property maintenance company can often access discounts on repairs and
maintenance that otherwise wouldn’t be available.
Their expertise and years of experience mean they can also
notice problems early on—before they become irreversible—thus saving a
significant amount of money down the line.
Maintain Value
Property maintenance companies are highly skilled experts
with the necessary certifications to help support the upkeep of various
properties. By conducting regular maintenance on different systems throughout
your property, such as drainage and electrical wiring, their lifespan can be
extended, while drastically improving the value of your space.
Expand Your Portfolio
Outsourcing your property management to a property
maintenance company makes it easier to expand your existing portfolio. By
having additional support managing one or more properties, you can bring in
more short-term income and earn additional long-term gain.
Working with property maintenance experts allows you to hand
over the work for an existing project, before refocusing your attention towards
growing other aspects of the business.
Why hire a property maintenance company?
Whether you find yourself overwhelmed by the day-to-day
maintenance of a property, or you’re looking to expand an existing portfolio, a
property maintenance company can help.
With the combination of expertise, industry knowledge, and
exclusive resources, property maintenance companies can save you a tremendous
amount of time and money.
