Stress Free Property Management
Stress Free Property Management (SPM) offers property management services for residential housing throughout the Tampa Bay Area in Florida. SPM also operates two other businesses. The first one buys foreclosures, repairs and revitalizes the homes, and sells them to various investors. The second company called Stress Free Construction does residential and commercial remodeling and new construction projects.
SPM grew very quickly, quickly enough that managing the details of executing their unique services became difficult and challenging. They needed the ability to effectively manage the hundreds of different details in their services businesses. Without a comprehensive system to keep track of the details, the company would stall and customer service would drop dramatically. There is just no way to keep track of everything on a spreadsheet or in checklists and there was no software on the market to serve their needs.
Extensitech created a custom software package that allowed SPM to obtain an unbeatable competitive advantage over those businesses in the same industry. This database software gave SPM the ability to track a huge array of details and procedures that were critical to earning a client’s trust. SPM was able to reduce the amount of employees needed to manage business by 32% while increasing profitability and expanding their customer base.
The software solution Extensitech built for SPM allows them to automate the majority of the administrative work. The employees of SPM no longer have to keep track of how many properties needs their lawns cut this week, or which homes should have the electric turned on or off on Wednesday’s date.
SPM has particular difficulties keeping track of what utilities needed to be turned on or off; this was time consuming and frustrating. There were at least 14 different scenarios that occur regularly in the business affecting when the electric or water is turned on, or off. Keeping track of these details by memory proved impossible and lead to a large amount of errors. SPM used to spend 2 or 3 hours in a day trying to manage the utilities and fix mistakes. That time has been reduced to 30 minutes at a 95% decrease in errors. This is just one example of many activities that SPM tracks with Extensitech’s solution; all activity areas have lead to time efficiency and reduction in errors.
The software tracks all of these details, freeing up the staff’s time to invest in more creative, profitable, activities. This also gave an additional benefit of allowing SPM to pay their staff more money than the competition.
Extensitech’s custom solution has allowed at least a $20,000 increase the bottom line per month.
“Extensitech’s custom solution has allowed our business to grow from 1 employee in 2008 to over 19 employees and 50 full-time independent contractors doing over 6 million in revenue. More importantly, this is not the first time. We had a similar experience with Extensitech in 2003-2006. In fact, our company grew so fast we made Inc. Magazine’s 500 list of the fastest privately held companies in America in 2004 & 2005. We ended up selling that business for a substantial profit in 2007”