Everyday business can be tough, whether it’s industry competitors moving into your territory or internal efforts to increase revenue and profits and attract and maintain staff.
Add in a global, relentless COVID-19 pandemic that continues to throw new punches, and many multifamily building developers, owners and property managers have found it extremely challenging over the last 18 months to get their jobs done and make residents feel happy and safe.
Some property managers have had trouble maintaining inventory to refresh or remodel in a timely fashion as supplies for appliances, lumber and more dwindled. Others found their greatest concerns were over keeping costs in line with budgets as prices skyrocketed.
One solution that has made the difference for many property management firms is Lowe’s Pro Supply, a division of Lowe’s Companies, a FORTUNE ® 50 home improvement company based in Mooresville, N.C
Lowe’s Pro Supply offers a robust inventory of products specifically curated for multifamily property management, plus access to more than 2 million products sold at Lowe’s stores nationally and online at lowes.com. It also offers 24/7 shopping convenience online at LowesProSupply.com, experienced experts to consult on everything from which type of paint or flooring to select to coordinating full renovation projects, and local sales representatives to answer questions and help find solutions.
The division is just four years old, created after Lowe’s acquired Maintenance Supply Headquarters, a Houston-based product distributor in 2017. Since then, the division has seen its number of national property management company customers climb, in large part due to expansion into new markets, the relationship with Lowe’s stores nationwide, and the extensive assortment of MRO - maintenance, repair and operation inventory products, it stocks, says Kory Davis, Director of National Accounts for Lowe’s Pro Supply, who was formerly with MSH.
The connection also proved advantageous for MSH. “We didn’t have the platform to service apartment managers before on such a large national scale,” Davis says. “Having the power and reach of the Lowe’s brand behind us has opened a lot of doors.”
Most key is that Lowe’s Pro Supply has become a one-stop-shop for maintenance and renovation projects for the more than 1,500 Lowe’s property management customers - comprising over 6-million units - operating in every state,” he says. “The Lowe’s relationship has given us a network of over 1,700 stores, an extensive product assortment, and an experienced sales team that make it easy and convenient for customers to have access to products they need, no matter where they are.”
Power of a Purchase Card
The connection has also speeded the procurement and delivery processes. “Managers or maintenance employees can walk into a store and get what they need with cash or a credit card,” Davis says. “Or they can use their Lowe’s Pro Supply Purchase Card account in person or online, which adds other benefits, from convenience and speed to discounts,” he says. The purchase card offers a 5 percent discount on qualifying product purchases at Lowe’s and lowes.com and a reduced delivery fee for large orders such as a pallet of sheet rock for a flat $20.
Next-day delivery is an option, including for the company’s “Project Pak®” boxes with everything needed for an apartment to be remodeled. The company makes that process more manageable by offering services to unbox, set up appliances, install cabinets and haul away trash.
Knowledge is Power, Too
Because customer training is highly important in all Lowe’s transactions, the maintenance staff and managers have been trained to have detailed knowledge of all products and their best use or look to other companies to share their skill set.
Keeping up to date is also important and helps sway residents to one property or another. Currently, stainless steel appliances remain strong, as are hard-surface granite and quartz countertops, and the new adjustable Kelvin (k) lamps are catching on since residents like to be able to change a bulb color depending on mood and season.
A recent new partnership with paint manufacturer Sherwin-Williams is now bringing its Valspar brand into Lowe’s Pro Supply warehouses. “It’s not only a matter of delivering, but teaching how to repair drywall, mix and choose colors, apply paint with proper tools,” Davis says.
Surprise Disruptions
And like any well-oiled machine, the partnership made getting through the long pandemic easier. Initially, most apartment management companies slowed or ceased renovations, though they called on Lowe’s Pro Supply for PPE (personal protective equipment) equipment, which represented a new product category.
When approval to get back to work came, the staff and stores rose to meet pent-up demand. As work in the multifamily segment remains at a feverish pace, having a secure product supply chain is important, Davis says. And, as COVID-19 hot spots emerge nationwide, the Lowe’s Pro Supply partnership and Purchase Card will continue to help Lowe’s Pro Supply do its part in this war.