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One of the really great parts of my job as CEO of ServusConnect is traveling around the country, meeting with multifamily operators (executives & practitioners alike) and having discussions about their successes & challenges with maintenance operations.
Needless to say, we're not traveling any longer, but the week before the NBA suspended play and the NCAA conference tournaments were shut down, I was doing just this in New Jersey & Eastern Pennsylvania.
At the time of my trip, there were already several confirmed COVID-19 cases in NYC.
There is no doubt we are living in a data-driven world - and Multifamily has always loved it's data!
Using property or regional performance data to evaluate and incentivize property management staff is well-worn using metrics such as lease quotas, occupancy-rates, renewals, on/off budget, etc.
When it comes to evaluating & incentivizing maintenance staff, things get a bit more difficult. There are some macro-metrics such as average turn-times and budget performance that might be good to evaluate the maintenance supervisor, but finding good, consistently-generated metrics to evaluate technician staff can prove more difficult.
For multifamily operators using field-enablement maintenance technology, such as ServusConnect, there is likely quite a lot more data to work with...and hopefully more easily accessible!
With the goal of creating technician incentives based on tangible data, we've partnered with a handful of clients to dissect & reassemble their maintenance data to find correlation points. Below are 3 Data-Driven Incentive Programs for Multifamily Maintenance Technicians our clients are using that are powered by field-captured maintenance data...and we'd like to share them with you!
We are all familiar with the US economic recovery over the past few years. Increased corporate economic development is resulting in growing GDP and increased consumer confidence. The net result, at the end of Q3-2018, is near historic-low unemployment levels and the largest increase in wages & salaries in a decade.
This is all good, right!? Absolutely. But, bull-market growth does present new challenges that small & large businesses alike have to solve for. So what is the impact to multifamily operators?