When we visit communities across Charlotte, we are always eager to learn more about the challenges they face working with make ready vendors to get vacant units ready for new residents. The 2016 GCAA Tradeshow seemed like the perfect opportunity to get a better lay of the land before meeting everyone face to face – and so the Pre-Show Survey was born. We were overwhelmed with the number of responses and quality of feedback we received– thank you for your sharing! Many of the questions in the survey were written based on common experiences we hear every day from customers before they start working with Rent Ready.
We’ve had many requests to share what we have learned – and today we are happy to finally make that happen. So here are the results you have been waiting for!
Working With Multiple Make Ready Vendors Can Be Challenging!
Everybody has a vendor they use for each of the make ready services they use in getting a vacant unit rent ready. You probably work with a painter, a cleaner, a carpet team, and professionals who can help with resurfacing tubs and counters. So what makes that challenging exactly?
- Processing multiple invoices from multiple vendors: 35% of respondents identified this as a headache. We don’t blame them! If you work with 4 to 5 vendors, that means you are getting 4 to 5 invoices per unit. How many units do you turn a month? That adds up! Do all of those vendors send those invoices on time? Do they all use the same payment process?
- Scheduling or rescheduling across multiple vendors: Similar concerns, and a challenge impacting over 30% of communities. 4 to 5 phone calls to get everything scheduled, assuming everyone picks up the phone the first time! Are those different companies aware of each others’ schedules if something needs to be rescheduled – or do you need to double your call count to make sure you don’t get charged cancellation fees from your vendors who were already scheduled to show up?
- Turns are more expensive than your budget: We’ll talk more about cost later in this post – but in short this is an issue for 30% of the industry. There is a lot of ad-on work not being reported because vendors don’t understand your community approval process.
- Reliability of vendors to show up when expected: Another whopping 30% of respondents identified this an issue – and it definitely is, if a vendor doesn’t show up on time it impacts other vendor’s schedules and move in times. Do your vendors track worker performance and efficiency to make sure the right amount of work is assigned to them so they show up on time when you need them?
- Availability to perform work when you need them: Last but not least, more than 25% of your vendors aren't able to fulfill your work requests on the dates you actually need them. When rental season gets into full swing, the ability of a vendor to scale to your need will impact your occupancy if units are sitting without being turned for days!
Areas Vendors Need to Improve
The top frustrations are usually the most painful and with 40% of communities acknowledging that their vendors are not helping them meet their goals for getting a unit rent ready these are the top areas for improvement:
- Showing up on time on the day you need the work completed.
- Invoicing more consistently and on time.
- Being available to answer questions and take orders when you are ready to call.
- Professional and organized approach to helping communities with make ready services.
- Predictable and lower cost service without sacrificing quality.
- Easier scheduling (Over 40% want online ordering but only 10% actually have it)
We think those are fair points…and something all vendors in Charlotte should aspire to!
Average Vendor Costs
We asked members of the Charlotte GCAA what they were paying for make ready services – here is what we found out:
These prices reflect a normal service without extras or add-ons. That’s almost $750 a unit if you need everything done! The average budget per unit is $430, which when coupled with a concern about inflated cost from vendors means many communities are struggling to find a make ready process that helps keeps costs predictable and consistent.
Changing the Status-Quo
Everyone onsite is involved in checking vendor quality and evaluating vendor performance and 90% of communities are empowered to make a change to their vendors. So why do we still see so many concerns and frustrations?
85% of communities feel comfortable making the change if another vendor can offer a better experience in areas they have a concern. But most of us feel stuck using the same process.
This math doesn’t add up, and it certainly doesn’t make sense for communities to continue to struggle with a stagnant make ready process!
Change the Way You Turn Apartments
Rent Ready is a new type of make ready company – we are approaching the normal process of getting units ready for new residents differently than other vendors. We’d love to show you our approach to those concerns and what makes our approach a superior experience.