I ran across this informative article on Multifamily Insiders, "What Kind of Property Owner/Operator are You?" by Peter Katz:

What Kind of Property/Owner Operator Are You? 

Most of you are in the middle of budgets. Ancillary Services Management (ASM) has a strategy to help with your budget planning. This is not the quick and easy fix that most people look for, instead, it is a long-term strategy to keep cost under control, manage your providers and increase revenue for many years to come. Let's start by outlining Six R's to a better NOI:

1. Review

2. Research

3. (Re)Negotiate

4. Reduce

5. Reallocate

6. Remember

Read more for an in depth strategy:

 The Six R's to a better NOI

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:

- ASM, for one client, was able to create, on a dozen trash hauling agreements, over $70,000 in savings over a 3 year period. In addition to the expense savings, we were able to create and standardize the owner's trash hauling agreement such that the terms and conditions provided flexibility for the owner over the life of the contract.

- ASM was asked to review several properties for a company's business phone and data services. The owner felt that their current invoices were very high. We investigated every line and several months of invoices in order to establish the viability of each phone line, their use and how they were used. This investigation led us to removing over 25% of their business lines that were not used, identifying lines that were for data only and improving the properties overall monthly charge for local and long distant calling by two thirds. Often when properties are sold and acquired the business phone service goes unnoticed and agreements roll over and move up into one of the higher brackets of expense from the ILEC or CLEC.   No provider is "raising their hand" to initiate a new agreement. So you get "layering" from the onset to the present. 

- ASM was able to increase a laundry signing bonus for a community by over $100K. Plus ASM was able to increase the community's revenue share percentage by several percentage points over their previous agreement. 

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

October 13-15: Maximize: The Multifamily Asset Management Conference