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Three Powerful HVAC Tricks to Know Before Summer
Posted 5/29/2019
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You would not put all your capital into one investment. Therefore, you should not rely on just one contractor.

Smaller storage properties often have one company for servicing HVAC, hot water and other maintenance/replacement projects. They are good, they are reliable and you are comfortable with them. Unfortunately, they service many other customers as well.

There can be many challenges with having only one contractor for multiple services. For example, many property owners often invest in several climate-controlled storage facilities. When one or more properties have serious HVAC or other building system issues, the maintenance company can often be booked solid. Having several contractors you can trust can streamline your maintenance needs and remove unnecessary roadblocks for smooth operations.

Another way to save is by leveraging manufacturers. One contractor simply cannot offer the bargaining power of a network. A contractor may have a good relationship with a distributor, but you are still paying wholesale prices and the contractor's mark-up on top of it.

Leveraging a relationship with a contractor network that is linked directly to an equipment manufacturer can provide significant savings of 20-30% on equipment. The less you spend on equipment, the greater your bottom line. 

Simplify Things You Do Not Need to Manage

Most storage facility owners know that dealing with multiple contractors can be challenging. It can take away from focusing on growing your business, as you may have to spend time scheduling inspections and maintenance appointments or dealing with excess billing and invoicing inquiries. With multiple properties in different markets, this can get overwhelming quickly. Having to manage fewer points of contact will leave you more time to dedicate to evaluating your assets, looking for the best deal and focusing on the next task. This is especially true for storage owners that have ten or more properties in different markets. Simplifying the management of contractors and other minor management tasks can free up a significant amount of time and valuable resources.

Plan Ahead

One of the challenges in investing is finding out that you have unexpected expenses after the acquisition. Building systems such as HVAC, plumbing and electrical can become very costly. If you are working on one or two properties, it is easy to keep track of what needs to be done. However, when you start to scale to five to ten properties, you can get bogged down with expenses you simply did not anticipate. Planning ahead with pre-investment building systems inspections can be a small added cost, but it could be the difference between walking away from a property which will eventually drain your capital. Scheduling inspections, repairs and replacements during the slower times of the year will often lead to savings on labor and help you optimize your spending while achieving greater profitability. Learn More

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