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AREI 123: Maintenance Matters: Maximizing Multifamily Investments through Proactive Care
Manage episode 407738688 series 2929860
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Welcome adventurous family!
Ever felt blindsided by a repair bill on your multifamily property?
In this episode we unveil the power of preventative maintenance. Discover how a proactive approach saves you money, keeps residents happy, and boosts your property value. Plus, a bonus way how tackle common myths about preventative maintenance!
Come join us and listen in and unlock the secrets to maximizing your multifamily investments!
π Link to YouTube episode Here
Highlight 1: Why Preventative Maintenance Matters
- Importance of project management in business
- Challenges of managing properties via reactive approach
- Benefits of using preventative maintenance
- Explain how preventative maintenance saves money in the long run and prevents future problems
Highlight 2:Case Study: Deferred Maintenance
- Example of how deferred maintenance can lead to bigger issues
Highlight 3:Preventative Maintenance Plans
- Interior and exterior maintenance
- Frequency of inspections (monthly vs quarterly)
- Property management company's role
Highlight 4:Benefits of Preventative Maintenance
- Increased resident satisfaction
- Reduced risk of major problems
- Improved property value
Highlight 5:Preventative Maintenance for Single-Family Homes
- Addressing the myth that preventative maintenance is only for large properties
- Examples of preventative maintenance tasks for single-family rentals
Highlight 6:Recap
- Importance of preventative maintenance for real estate investors
- Why should you develop a preventative maintenance plan
Highlight 7:Bonus Segment: Multifamily Mythbusters
- Myth: Preventative maintenance is unnecessary and too costly
- Benefits of preventative maintenance: saves money, extends equipment lifespan, increases resident satisfaction, improves profitability
- Call to action: Being proactive, asking about preventative maintenance plans
Tweetable Quotes:
" Overall preventative maintenance is going to save you money in the long run. This might be a long a hard thing to get set up at the beginning, but we promise you it's going to be a fraction of the cost to perform and to execute now, than if you wait for things to progress in the future and it'll make your asset better for selling than disposing of in the future."
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