Client Overview
Advanced Property Management (APM), a prominent Boston-based property management firm, manages a diverse portfolio of multifamily residences. They struggled with outdated intercom systems, leading to high maintenance costs, and security concerns. In their collaboration with Swiftlane, APM experienced significant enhancements in property functionality and security, achieving a noticeable return on investment.
Key Highlights:
- Annual Savings: $8,290
- Increased Rental Income per Unit: “We have managed to increase the average rent price by $50-100, renting units for $2500, comparing to other buildings with no intercom where max price was $2400”
- Improved Living Experience: “The intercom impresses tenants, which creates additional unique selling points for leasing officers”
Anar Kuliiev, Advanced Property Management
The Obstacles
Advanced Property Management was grappling with several significant issues. The frequent need for repairs on their outdated intercom systems was causing maintenance costs to skyrocket. This situation was exacerbated by unreliable communication and ongoing security vulnerabilities that are inherent in antiquated systems. Additionally, the manual processes required for managing tenant entries during move-ins and move-outs were proving to be both cumbersome and inefficient, further complicating operations.
Swiftlane’s Impact
Swiftlane addressed the immediate challenges faced by Advanced Property Management, while also delivering significant added value. This resulted in a safer and more attractive living environment for tenants, as well as a more efficient and streamlined property management experience for the staff.
The Tangible Outcome
Savings and Cost Reductions:
- Locksmith and Electrician Savings: We spent $2658 from September 1st to January 1st before intercoms were installed. From the 1st of January to the 1st of May, we have spent $471. Total savings ~$2200 for 4 months, therefore $6600 a year”.
- Maintenance Savings: “Every move-in had to be manually inserted in the intercom system (in-person). “In my experience it takes up to an hour to enter tenant details. Last year we had 5 move-ins and saved $250.”
- “Intercoms have been fixed 3-4 times for the past year, which results in the $1080. From now on it will be 0.”
- Phone Line Savings: “Eliminating the need for a dedicated phone line saved $360 per year”.
- Total Annual Savings: An extraordinary $8,290.
Anar Kuliiev, Advanced Property Management
How Swiftlane Delivered Value
Remote Management
- Ease of Use: Managing tenant access remotely saves time and reduces manual work.
- Efficiency: You can add new tenants to the system instantly, eliminating the need for in-person updates.
Vandal-Proof Design
- Durability: Built to withstand attempts at vandalism, reducing repair and replacement costs.
- Reliability: The robust design ensures continuous operation, providing peace of mind for property managers and tenants alike.
Cost-Effective Solutions
- Eliminating Additional Costs: No need for dedicated phone lines or frequent repairs.
- Long-Term Savings: Significant reductions in maintenance and operational costs.
Increased Property Appeal
- Attractive to Prospective Tenants: Modern technology and enhanced security features make the properties more appealing, aiding in quicker lease-ups.
Final Thoughts
Advanced Property Management improved their operations and tenant satisfaction through the integration of Swiftlane. Our solution effectively met APM’s critical needs, delivering substantial investment returns and peace of mind. This success highlights Swiftlane’s dedication to utilizing technology to boost security and operational efficiency in the property management sphere.
