Episode 157: The Hidden Cost of Maintenance (Every Property Manager MUST Know)

Matthew and Gray sit down with Ray Hespen (Property Meld) to unpack why, in today's market, maintenance execution is one of the biggest levers for NOI. Ray shares fresh data showing how specific maintenance behaviors statistically change renewal rates, why the first 90 days are make-or-break, and how coordinators armed with benchmarks can talk to owners with confidence. We hit alignment of PM/owner incentives, proactive budgeting, and where insurance + AI are taking maintenance next. What you'll learn: Why post-2021 conditions make leasing + maintenance the profit center, not an afterthought. New data: a certain maintenance ops style can measurably lift renewal rates. First 90 days = landmines: failures in HVAC, water, and hot water can spike churn risk ~90%. How communication volume & satisfaction correlate to renewals (over- and under-comm can both hurt). Using data to set realistic NTEs and keep owner trust (no wild estimates). A simple way to budget maintenance so owners expect the spend (and stop feeling "surprised"). Turning a 60-day coordinator into a 20-year vet with benchmarks, history, and vendor fit. The case for aligning incentives around NOI (not just service volume). Why resident quality and past care of a home should influence expectations—and maybe pricing. A peek at insurance-style maintenance and portfolio-level risk in the next 5 years. =================================== Connect with Matt, Spencer, and Gray at Evernest: Evernest.co Guest: Ray Hespen of Property Meld Link: Connect with Evernest Link: Evernest YouTube Channel (@ThreeHundredToThreeThousand) (Watch this episode and more!) Visit the Podcast Website: Evernest.co/podcasts Email the Show: [email protected] =================================== Production House: Flint Stone Media Copyright of Evernest 2025.

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