As a property manager, how do you make your variable costs less variable and consistently lower to increase net profits? This might not be your daily question, as you attend to tenant emails and assign maintenance tasks, but at the end of the month, looking at the balance sheet, the variable costs of your properties become the priority concern once again. Most of those costs are related to appliances as the moving parts of your properties, the sources of energy costs, the front line of tenant engagement, and the maintenance emergencies requiring the highest costs of repair and replacements at a time when labor and parts are scarce and expensive.
You know the answer today is ‘Proptech’ (property technology), and specifically appliance-management software, but you have to find the right combination of appliance-maintenance and appliance-diagnostic software to integrate with your property-management platform and your variety of appliances. If you’re stuck there, it’s a good time to start with that initial question: Which appliance-management software is going to make your specific variable costs less variable, to consistently increase your profits?
The answer initially depends on your appliances.
The ‘smart’ software within each appliance includes its own diagnostic reporting, status, alerts and remote-control features. The corresponding appliance-management software is already programmed to receive all unit identification, specs and diagnostics from each appliance as it’s “plugged in” to the network. The warranty details of each appliance are included, so the pre-set and user-modified diagnostics will automate the preventive-maintenance, routine status checks, and energy-efficient settings (i.e., automated cooling and heating temperatures when properties are vacated) across all appliances, across all properties, relative to the warranties. A mobile app will ensure that the Property Manager has all the diagnostic and remote-control capabilities in the palm of their hand at all times.
GE SmartHQ Service is the industry-leading example of reducing appliance maintenance costs to a minimum by connecting GE Smart Appliances to the Appliance-Diagnostics software.
If you have discount-shopped appliances of different manufacturers, you save on the front end, but will pay higher maintenance costs for the lives of the appliances if they can’t self-report failures and status, can’t be remote controlled on a schedule, or can’t tell you exactly what needs to be repaired or replaced. An open-source, multi-brand, appliance-management software is still possible, and you may achieve cost reductions primarily with energy-saving remote controls, but the cost savings will be limited to the ‘smart’ capabilities of the appliances, and the automation capabilities of the software. Also, the input of the appliances into the platform is more manual.
Investing in full deployment of smart appliances across your properties, and plugging them into the wifi-enabled network of your appliance-management platform, will yield immediate and continuous reductions of costs and stress for property managers. Most importantly, costs become more consistent with more controls, fewer surprises and complaints, and more certainty of appliance diagnostics. Surveying the current and foreseeable landscape of maintenance labor, the decision has become an imperative for profitability and growth.
Smart appliances combined with an appliance-management system like GE SmartHQ will immediately enable energy cost reductions across virtually all property types.
Appliance alerts indicate to the property manager whether or not the equipment needs repair, and specifically what repairs are needed.
Dissatisfied customers are more expensive customers.
For property managers, smart appliance diagnostic software has become the most effective tool for directly reducing appliance-maintenance costs, but more importantly for controlling the variable nature of property maintenance costs. Stress and cost of unpredictable maintenance can be shifted to confidence and relief of control and prevention.
To learn more about the property management software and diagnostics capabilities of GE SmartHQ ProTM, click here for a free demo.request a demo