Real estate is a cutthroat business. It is highly competitive both in the commercial and residential sectors. For companies to succeed, they must adapt and constantly seek new ways to revitalize their operations.
A growing real estate portfolio is a clear sign of success. However, it does not paint the full picture. A large real estate portfolio also means further management and maintenance must be conducted, on several buildings and facilities. But why? Collecting real estate is not a sustainable form of success. To increase and enhance the success of your company’s property portfolio it is vital to conduct maintenance. Proper maintenance not only ensures the value of a company’s investment. It also provides the tenants within the company with a better experience. After all, real estate companies are looking to gain and hold onto tenants for prolonged success. This is achievable with a CMMS.
What is a CMMS?
A CMMS is a Computerized Maintenance Management System. A CMMS provides a cloud-based platform that is accessible via a mobile phone. Perfect for real estate agents, developers, and other employees who work on the go. With a CMMS, companies can manage the maintenance conducted on their buildings and facilities. From assigning work orders to recording maintenance history and scheduling annual preventative maintenance. A CMMS will streamline and simplify the maintenance requirements of real estate companies.
The value provided by a CMMS
With a better understanding of what a CMMS is, let us look at the values a CMMS system provides to a real estate company.
Reduction in downtime
One of the most well-known benefits of a CMMS is the reduction in downtime. Within the real estate industry, downtime can be due to several issues, such as an electrical fault or a plumbing issue. This can be very problematic and affect their business or quality of life if they are renters of the facility. By reducing the downtime it takes to repair machinery. The company is increasing its value by providing better services for its customers.
Increased customer satisfaction
Tenants and residents can be a demanding group to satisfy. If the building they are occupying does not meet their standards or is regularly in need of repairs, this will strain the business relationship. Leaving a building in disrepair will also leave the tenant with a bad image of the company. This poor image could go on to affect the company’s reputation in the long term. In the short term, poor maintenance can lead to a high attrition rate amongst tenants and residents. Affecting the company’s success.
It is vital that customers are satisfied. A CMMS provides value through increased customer satisfaction. With a CMMS, companies can conduct detailed and accurate records on their buildings. This information can be stored on the CMMS platform and even be uploaded through a mobile phone. When repairs are required, they can be scheduled and assigned. Annual maintenance, such as a new coat of paint or a plumbing inspection, can also be scheduled. Maintaining the building shows the company cares about its tenants and aims to provide a pleasant experience.
As the company gains success and gains more properties, more maintenance tasks will pile up. It is crucial that companies who find success maintain it. To do so, companies must increase their efficiency and productivity. This is also true for real estate companies. Increased productivity through better-operating methods is highly valuable.
With CMMS, real estate businesses can increase their success by efficiently leveraging the platform’s uses. CMMS is operable on mobile devices, and the cloud-based platform can store data on several buildings and facilities. This means that employees do not have to be assigned and stuck at a specific location to be productive. Employees do not even have to be at their workstations. With CMMS, employees can assign work orders via their phones. Once the work order is completed, the maintenance team can inform their manager via phone, and the whole procedure can be monitored by a management team too. It is important to note that this can all be done through a mobile phone. The flexibility and efficiency provided to companies via the CMMS are extremely valuable.
Increases in productivity and customer satisfaction, along with a reduction in downtime, are often overlooked benefits but are extremely valuable toward companies within the real estate industry. By implementing a CMMS, companies will gain these benefits alongside many valuable features that can help a company sustain long-term success. This makes implementing a CMMS an intelligent decision for companies to make.