Maintenance work is a huge part of the total costs which, over time, amount for a property manager. Retail property is especially demanding for maintenance, not only because of lots of compliance regulations but also, to remain attractive for tenants and their customers. Over time, maintenance costs can take a large chunk out of your budget which definitely isn’t something you want to have. So, in this article, we’ll focus on how you can reduce those costs by using retail property management software.
Use retail property management software to track meter readings
Management software for retail properties should be able to help you track different meters (e.g. electricity, water, etc.). For managers, this feature is highly useful because it can help automate billing, do a better job at planning expenses and finding problem areas. For instance, if the electric or heating bills are too high for your liking, you can think about renovation, technological upgrades or other solutions to improve the efficiency of your buildings, lots, etc. By merely keeping track of meters within your property, you can reduce spending and have a more balanced budget for the foreseeable future.
Handle every maintenance work hands-on or completely detach your managers from the process
With every business process, there is always more than one way of doing things. With regards to organizing maintenance work, some building managers like to be hands on. They want to sign off on everything and know exactly what’s going on at which exact moment. Other managers will prefer to delegate these tasks to their subordinates. Once again, retail property management software can help save time and money in both cases. Inside the platform, users can see which jobs are scheduled for when, what check-ups or maintenances are in the queue, which areas require immediate attention, and much more.
Follow spending for maintenance work and larger projects
Overall, retail property management is a very competitive business. As a manager of properties, businesses have to find ways to cut down on costs while simultaneously remaining attractive for tenants. Attractiveness can be improved through properly maintaining, renovating the facilities, etc. But this is almost always an expensive undertaking. Well, thanks to dedicated software for property management, you can review bids, assign projects, and monitor costs for various maintenance, renovation, and/or repair works.
Whilst not always related to maintenance, this feature can definitely be used to reduce administrative costs, when they’re related to carrying out and processing requests for maintenance jobs. What we mean by this is that every property management firm has a lot of billing and invoices to take care of. Sending them out at the right time and billing everyone the right amount (if done manually) takes a lot of time. But, if you could automate it, this would save you hours of work weekly or monthly. Well, with retail property management software you definitely can automate billing, reduce time expenditures and in turn, save money!