You're facing urgent maintenance issues. How do you ensure property owners approve expenses swiftly?
When facing urgent maintenance issues, securing swift approval from property owners is crucial to prevent further damage and ensure tenant satisfaction. Here's how to expedite the process:
What other strategies have worked for you in similar situations?
You're facing urgent maintenance issues. How do you ensure property owners approve expenses swiftly?
When facing urgent maintenance issues, securing swift approval from property owners is crucial to prevent further damage and ensure tenant satisfaction. Here's how to expedite the process:
What other strategies have worked for you in similar situations?
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To secure swift approval for urgent maintenance expenses, I would immediately communicate the issue to property owners, highlighting the urgency and potential risks of delays. A detailed report would follow, outlining the problem, cost estimates, and consequences of inaction. I’d offer multiple solutions, such as a temporary fix or a long-term option, giving owners flexibility in decision-making. If the cost is within a pre-approved budget, I would reference that to ease the process. Ensuring that trusted vendors are ready to act and providing a clear timeline would further build confidence. Emphasizing compliance, safety, and liability concerns would underscore the need for prompt action.
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The first step in any great property management agreement is ensuring that these types of issues are considered before you ever take on a client. When an emergency hots at 2:00 AM, the last thing you want to be doing as a property manager is calling your client with an urgent wake up call. And the reality is, they don't want that kind of call either. That's likely one of the main reasons they hired a professional property manager.
Richard Guss回复了: I agree! -
In property management, timely communication is essential when addressing urgent maintenance issues. Establishing a clear protocol for emergency situations can streamline the approval process, ensuring that property owners are informed and engaged without unnecessary delays. Utilizing technology, such as property management software, can facilitate real-time updates and approvals, allowing for quicker responses. Additionally, building strong relationships with property owners fosters trust, making them more likely to approve necessary repairs promptly. Ultimately, prioritizing swift action not only protects the property but also enhances tenant satisfaction, which is vital for tenant retention and overall property value.
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*mCreate a Sense of Urgency! Instead of saying, “We have a leaky pipe,” try, “We have a leaky pipe that’s one drip away from turning our property into a water park!” Highlight potential risks—like property damage or tenant complaints—that make the issue sound as urgent as a cat stuck in a tree.
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Cory Friedman, CPA
Founder and CEO @ Kompas | Leading the way towards simplified property management
Getting swift owner approval for addressing urgent property maintenance issues comes down to two elements: 1) Property Management Agreement 2) Building Trust First and foremost, if you are a third party manager, your property manager agreement should have a clause or provision that gives you the autonomy to act in emergency situations in order to avoid significant liabilities to the asset. Secondly, third party management is all about building trust and relationships with property owners. By consistently demonstrating professionalism, organization and responsibility in handling the properties, you will be able to earn the trust of owners over time which can help expedite tedious approval processes in case of emergency.
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