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Today’s guest is Ray Hespen, who’s here to discuss his relatively new product Property Meld. This amazing product, which we recently started using, basically links tenants, owners, and vendors together into one platform to help them coordinate maintenance.
Ray and his cofounder were both climbing corporate ladders, which involved moving around a lot, so they were renting in each new location. His cofounder pointed out how much of a pain it is to be a renter and get maintenance done. From that observation of the renter experience, they realized the need for a product like Property Meld. They then talked to a couple dozen property management firms to learn more, and then decided they had to make maintenance more automated, simpler, and more self-service oriented.
The main reason people rent these days is because they don’t want the hassle of being a homeowner, not because they don’t have the option of buying. This means that not offering a strong maintenance service is the second most common reason that renters don’t renew their leases. In fact, a whopping 31% of non-renewals are because of maintenance.
Property Meld automates a system that allows streamlined coordination and schedules the repairs, verifies completion, and follows up with the resident for you. It can do this without requiring phone calls, which tenants are notorious for hating and avoiding whenever possible. It also keeps a record of contact attempts to ensure that there’s evidence when tenants claim that they were never called. It also ensures quick scheduling; 85% of repairs are scheduled in under four minutes.
Tune in to hear all of this plus much more! We’ll also discuss how Property Meld helps managers favor good service providers (and weed out the bad ones), exactly how important it is to use text messaging instead of phone calls, how much Property Meld costs, and how quickly they can get you up and running with the system!