5 Ways Technology Gets Multifamily Units Move-In Ready Faster
Limiting gaps in occupancy across your multifamily portfolio is critical to maximizing profitability. Turning vacant units sooner saves you from taking a financial hit now and later. That’s because units can rack up deferred maintenance and costly long-term issues when they are vacant for too long. $3,872 is the average cost to turn a unit. Most multifamily units are vacant for 20 - 25 days, almost a month of lost revenue and vulnerability if disaster strikes.
The good news is the right technology reduces make-ready time and gaps in occupancy in the process. Here are five ways smart property management solutions help you get your multifamily units move-in ready faster:
1. Get the right specialists on site sooner.
Closing the gap between when residents move out and when technicians arrive minimizes occupancy gaps and prevents additional damage from prolonged vacancy. Growing your connections with quality vendors and technicians keeps you competitive and moving units fast. Identify the right property management technology partner that can streamline your multifamily make-readies while providing an expanded network to get them done.
Learn about Lessen’s national network of more than 30,000 prequalified vendors ready to work 24/7.
2. Increase work order accuracy.
The right property management technology platform gives you a unified, real-time view of vendor management and work orders while opening communications with technicians and other third-party partners. That means from the moment you initiate your multifamily make-readies, third-party vendors can send job status updates 24/7. Connecting all the stakeholders prevents communication gaps to expedite multifamily make-readies with precision and quality.
3. Take valuable time back.
Leveraging the right property management technology simplifies multifamily make-readies with more automated processes and opens communications across stakeholders. Streamlining the work order process and relying on fast, quality service enables property managers to save time and reallocate hours every week to more strategic business priorities.
4. Rent units faster with automated listings.
Reach potential residents sooner by selecting a property management partner that markets your vacant units for you. Outsourcing multifamily make-readies with the right talent and technology partner can alleviate the hassle of listing units and even facilitating leasing agreements in resident portals. Save time limiting unnecessary meetings and paperwork, and with swift make-readies, you’ll have more units to rent as demand arises.
5. Boost your first-time fix rate.
Connecting incredible technicians and third-party vendors with the right property management platform prevents lengthy jobs with unnecessary return visits that can extend make-readies and vacancies. You’ll limit expenses, save time, and get your multifamily units back on the market sooner.
Accelerate multifamily make-readies, increase profitability.
Take back 4 -5 hours every week. That’s right, property managers take back up to 260 hours a year on manual coordination and operations. You can invest more time in strategic business priorities by outsourcing multifamily make-readies with Lessen.
Cut back turnover time to 3-5 days. With Lessen it only takes 3-5 days to complete multifamily unit make-readies, that’s almost twice as fast as the 5-10 day industry average.
Get units move-in ready sooner by outsourcing multifamily make-readies. Lessen gives you access to a prequalified national network of 30,000 vendors and technicians across more than 55 trades. Our trusted partners are ready to work 24/7 backed by powerful technology for fast, accurate make-readies. Alleviate communication gaps and blind spots with One By Lessen’s dashboard and mobile apps sharing all real-time status and communications updates securely in one place. Get started at Lessen.com.