Property Maintenance Operations Benchmarking Report

This document is a benchmarking report focused on property maintenance operations, providing insights based on data from over 9.3 million work orders. It outlines the relationship between maintenance performance and resident renewals, suggesting that maintenance activity significantly influences lease length and resident churn. The report emphasizes the importance of using maintenance trends as early indicators to identify at-risk leases, thereby enabling proactive retention strategies. It details three key metrics: repair speed, resident satisfaction, and maintenance spend, which serve as critical benchmarks for assessing maintenance processes. The report also discusses the correlation between communication volume and resident churn, noting that excessive communication may indicate underlying issues. Additionally, it presents actionable steps for property management companies to enhance their maintenance operations, including tracking work orders, auditing work order priorities, and improving communication strategies. Overall, the report aims to assist operators in optimizing their maintenance strategies to improve resident satisfaction and retention.