- Jul. 16, 2012 - WINSTON-SALEM, N.C. --
Specialization or Division of Labor is a principle that has been around for hundreds of years. Essentially it discusses the idea of focusing on a specific task that you are good at, and concentrating your effort on that single task. Comparing that to today and dealing with Property Management, depending on the market or asset being managed, that would mean concentrating on leasing, providing support or service to homeowners, concentrating on budgeting and paying invoices, or many of the other Management tasks given to the Property Management Company.
If specialization and focusing on what your good at is so important, why are so many companies touting their maintenance departments?
Many are looking out for your best interest, but make sure you do your research first. Sometimes the maintenance department can provide a huge boost in profits for the Management Company. Is this a good thing? Sure there are some benefits to an in-house maintenance staff, such as a single contact (The Management Company) that you can call to get help with issues you are having. However, there are two sides to this coin. With every benefit there is a cost, and with an in-house maintenance department, this could be driving up the cost that is passed along to the clients.http://www.inventivepm.com
After all if the maintenance team are staff that are constantly on the payroll, and there has to be some way that they are getting paid for that service. Those fee’s can show up in a couple different ways; perhaps in a higher priced Management Fee, or in the cost associated with the work performed on your asset. Either way there is some way the maintenance is being paid for.
Furthermore.... continue reading this post at http://www.inventivepm.com