Author: Tim Moegen
August 4, 2023 - 4 MIN. READ
To attract residents, multifamily property owners should always find ways to enhance the appeal of their properties. While implementing security measures like keyless entry and cameras can increase the value of the property, and facilities like gyms and tennis courts can attract fitness enthusiasts, these features may not be the top priority for potential tenants during the scorching summer months. During the heat of summer multifamily complexes with pools are likely to garner significant attention from prospective residents.
In today's competitive market, there are numerous properties that fulfill some or all of these criteria for renters. Renters actively seek out properties with pools, but the availability of certain maintenance products may be increasingly challenging due to supply and demand issues. It is crucial for multifamily property owners to stay ahead of the curve and ensure they can offer their tenants access to well-maintained pools.
Preparations for supplies
When it comes to multifamily property ownership, there are several important factors that owners should take into consideration. These include the supply and demand of various products and services, alternative options for when supplies are scarce, and the importance of establishing reliable partnerships.
The issue of supply shortages became evident in 2020, at the onset of the pandemic. As public access to pools became increasingly limited, many homeowners opted to install their own pools. This surge in demand not only affected pools themselves but also had a significant impact on the availability of pool supplies. However, the scarcity of chlorine-based products, in particular, was compounded by another unforeseen factor.
A major chlorine manufacturing plant in Louisiana experienced substantial supply losses due to a fire caused by a hurricane. Furthermore, a storage facility housing over 100,000 pounds of chlorine tablets faced a similar peril in January 2022, resulting in significant product loss. As a result, the combination of increased demand and reduced supply created a bottleneck in the quantity and distribution of these essential pool products. It is therefore crucial for property owners to ensure that such unforeseen events do not hinder their operations.
By considering these aspects, multifamily property owners can better navigate the challenges posed by supply and demand fluctuations and be prepared with alternative options and reliable partnerships.
Supply and demand
In light of these shortages, it is imperative for multifamily property owners to stay vigilant and proactive in maintaining an adequate supply of essential pool products. By closely monitoring data that reveals patterns of product delays and increased costs due to high demand, property owners can compare these trends to their own usage patterns and make informed purchases to keep their stock replenished while prices are still favorable.
Analyzing previous trends observed in other properties can provide valuable insights into the quantities of various maintenance products that should be procured. Just like the prices of milk and eggs rise with market demand, pool supplies also experience price hikes.
To avoid unnecessary expenses, minimize initial costs, and maximize return on investment (ROI), it is essential for multifamily property owners to base their product purchases on supply and demand trends. This might involve stocking up on supplies during the offseason or exploring alternative suppliers.
Regardless of the time of year, effective data management remains critical, and property owners must know precisely when to place orders for supplies to optimize their procurement process. Implementing supply chain risk management solutions to track supplies globally is crucial, as political factors, disasters, and random changes in supply procurement can have a global impact on certain supplies. Fortunately, there are strategies available to minimize the impacts of shortages and price fluctuations.
Alternative options
For property owners, considering alternative products can be a smart move. Chlorine tablets offer the same results as other competitive products but require less labor-intensive work.
In situations where the price of specific products skyrockets due to increased demand or unavailability, having an alternative solution becomes crucial to keep amenities functional. It is essential to evaluate the cost and labor involved in using bromine tablets or liquid chlorine compared to the increased costs of chlorine tablets.
Multifamily property owners can explore the advantages of installing a different type of pool system altogether. While most pools require chlorine, saltwater pools utilize the minerals in salt to generate chlorine. Although the upfront cost of a salt chlorine generator is higher than a standard chlorine system, the return on investment is significantly better.
In addition to the cost benefits, maintenance expenses for saltwater systems are generally lower. These systems also act as a selling point for renters as they provide consistent sanitization while eliminating the chemical byproduct chloramine.
Saltwater generators typically have a salt cell that lasts between three to eight years, requiring only a few maintenance sessions yearly to ensure the system's integrity.
Despite the various considerations associated with saltwater pools, they cost 40-50% less over the pool's lifetime. By opting for a separate system from the majority of pool owners, multifamily property owners gain a significant advantage in avoiding common product demands.
Contrary to popular belief, saltwater pools do not result in salty water. Instead, the water often mimics the natural attributes of a body of water. It's important to note that saltwater pools are not the only alternative option to reduce heavy chlorine usage in pools.
Other viable options include ozone generators and mineral purifiers. When installing new amenities on their properties, multifamily property owners should thoroughly explore all available options.
Reliable partnership
Raiven is a trusted partner that can simplify product procurement for pool supplies for multifamily property owners. Keeping track of the market, supply and demand, and supply chain risk management is not something many property owners need to add to their to-do lists. Having a one-stop shop that implements an optimized supply chain management strategy for all those necessary products is Raiven’s purpose.
Key benefits of Raiven include:
- Pre-negotiated discounts that are generating average client savings of 7-25%+ from big name suppliers like Leslie Pools, Ferguson, HD Supply, Grainger, Graybar, Office Depot, and more.
- Supply chain alerts for price and product availability changes on the items that matter to you most.
- Private marketplace houses all your preferred suppliers in one location for easy access to your discounts. No more bouncing around websites comparing prices.
- AI-powered purchasing tools that find the lowest prices even when employees shop outside your network.
Raiven is your one stop shop to save time and money. Ask our clients Core Realty, Lyon Living, or Oaks Property Management what we’ve done for them. Visit Raiven to learn what we can do for you.
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