Running a multi-site operation, here’s how to save
We’ll start off the week with the top 5 cost saving tips for property managers. We’ve previously discussed saving on utility bills and how to get the best deal for your energy supply. So we’ll now look at effective ways to manage your property, saving you money and increasing your efficiency.
Monitor your sites energy consumption
Firstly, you’ll need to look at monitoring your sites energy consumption. It’s important to keep yourself up to date with consumption patterns. Doing so and I’ll develop cost saving patterns. Especially if costs have risen recently. For instance, at Crown we have a dedicated managing agent section on our website allowing our customers to log in and keep updated. Furthermore, this’ll sanction an opportunity to keep track of how much your tenants consume as well as keeping track of account balances.
Cost Saving, Constant Communication
There must be effective communication between all services involved, ensuring their relevant and accommodating to clients. Maintaining strong, prosperous relationships between clients, managing agents and suppliers & contractors takes great importance. Additionally, prioritising tasks based on urgency, is pivotal to building a strong, profitable and cost saving relationships. Therefore, excellent people skills and patience will ensure all issues are resolved in a timely and effective manner.
Always have a contingency
We all love it when a plan comes together! However, for those unforeseen circumstances you always need to prepare in advance, Plan and implement an action plan for emergencies. For instance, once an emergency occurs take precautions such as contingency offices or accommodation.
You may also need to consider the costs involved as clients may require credit on the rent and rates for the period the office wasn’t operational.
Therefore, costs and location should be key indicators to consider when developing a cost saving contingency plan to deal with unanticipated situations.
Within industry and commercial property management it’s important to complete regular maintenance checks. This not only is important to property managers, but companies want to keep productivity levels high, motivate their workforce, boost morale and ensure their company image matches their brands. For instance, a young, trendy and fresh brand wouldn’t be suited to a neglected, old fashioned office block.
As well as monitor energy consumption and checking for accurate meter readings, other external areas to inspect should include roofing, glass, signage, landscaping and car parking areas.
A well maintained property may at first be expensive to maintain, but think about the savings you’ll make in the long run. Regular checks beat losing tenants to an unhealthy environment.
Eco Friendly Offices
Intelligent and green buildings can be cost saving for industrial, retail or commercial property management. With revolutionising technology and regulations coming in from the government. These new approaches appeal to more economically, environmentally-conscious organisations. Despite the long term commitments and changes. Psychically using LED products and smart metering improves your offices energy efficiency, allowing longer usage at a lower cost to the budget and environment.