Back in September we attended the Apartment Revenue Management Conference. We met some great people and learned new things at some fantastic sessions! One take away that stuck with us was the expense reduction initiatives discussed by Nyla Westlake, Vice President of Asset Management, with Trammell Crow Residential. Here is a great article by Teddy Durgin that summarizes what she discussed in that session:

 Expense Reduction Initiatives

This section in our newsletter is to brag a little bit about our accomplishments we have achieved for our clients. It will give you an idea of what we may be able to accomplish for your company!

Case Studies:

- An ASM client purchased a property that had an existing exclusive marketing telecom agreement for video and data service.   Based on the current take rates, the property would never achieve high enough take rates to generate revenue for marketing the telecom provider's services. ASM was able to renegotiate a new agreement with the provider to ensure that the property would begin generating revenue for marketing the provider's services immediately (and expanded the revenue generating marketed services as well).

- ASM took over the negotitations of a portfolio laundry deal for a client in mid stream (provider had already given our client a proposal/offer). After analyzing the provider's offer, ASM was able to conclude that the revenue share percentage offer/proposal presented to our client was approximately 51% lower than the existing agreement in place. ASM was able to renegotiate the portfolio deal and increase the revenue share percentage by 11% over the existing agreement in place (not the proposal/offer our client received directly) and the new ASM offer was also 3 years shorter than the proposal/offer our client originally received from the provider.

Pretty impressive, right? If you'd like to learn if we can do this for your company, please contact us for your free evaluation!