The $100k mistake

April 8, 2022

The $100k mistake

By Operations Team. For more information, contact Robert Parmar

It’s a bad idea to ask your butcher to cut your hair. Despite the overlap with your barber at expertly wielding sharp objects, it’s obvious why the results would be disastrous.
The same principle applies whether your property management company is performing capital upgrades or qualified project management.
Similar tools + different expertise = wildly different results.
We’ve seen the results of the wrong party capital upgrades managing and it’s not pretty.
Here’s an example…
Recently, we took over a property where the previous management company’s on-site staff oversaw the replacement of 10 exterior walkways at $10k a pop.
Long story short, 48-months later, the walkways have dry rot from inadequate slope and drainage.
Now the owner can expect to spend an additional $100k (just 5-years later!) on what was supposed to be a 15-year fix.
That’s one expensive mistake.
Although property management companies are qualified to oversee basic cosmetic upgrades and repairs, most are not qualified to perform structural capital projects.
When we can save you money and do it right, Summerfield will do the job. On capital upgrades of $10k+, we will always provide at least three bids so you can select a qualified professional that offers adequate guarantees and warranty to protect you from losses like the above.
Summerfield believes providing a better property management experience looks like staying in our lane and keeping everyone’s best interest in mind.
When you’re ready, call us. Prefer text? That works too.
 
Talk soon.

 

Robert Parmar

Southeast Region

rparmar@smfield.com

206-920-3055

 

 

 

Trevor Manning

Northwest Region

tmanning@smfield.com

503-867-5214

 

 

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Summerfield specializes in the management of apartment properties that are approximately 125 units or larger, and is licensed to manage in Washington, Oregon, Idaho, Florida, Georgia, & South Carolina.

If you would like to discuss additional specifics of our management program, please reach out to our Managing Director, Robert Parmar at rparmar@smfield.com or call 770-628-5943.

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