Managing activations at new units had always proved to be a problem for Specialized. Given the pace of new additions, SPM found themselves with a backlog of utility activations.
This was problematic for several reasons:
The process of activating utilities was impacting operations and tenant experience severely.
Nutiliti has since taken over activations at their new properties which has led to reduced turn times and created more visibility on the entire process.
With Nutiliti's platform, SPM can upload documentation required to show proof of ownership directly into their portal instead of trading numerous emails that get lost easily.
Additionally, SPM can see scheduled utility service appointments and ensure that a field operations associate is present to let the utility techs in.
Lastly, SPM can monitor the activation process across all of their new units which includes transfers from tenants into their name.
The result of Nutiliti's seamless integration has been a significant savings in both time and money, which Steve elaborated further on. “What used to take us 80+ hours to manage now takes about two.”
Specialized currently has $1.2B in assets under management, and the combined experience of the management team includes the oversight of 23,000 single family homes across the U.S. The firm provides turnkey acquisition of rental homes and comprehensive residential property management for homeowners, investors, and institutional funds, including comprehensive leasing, marketing, screening, maintenance, collections, compliance, asset acquisition and disposition and accounting services.