Andrew's Ancillary AdviceAncillary Services Management
A Focus on Industry Expertise
From Our Founder
Andrew’s Ancillary Advice
Consider the “Soft Costs” of Running or Managing the Program
When negotiating an agreement, don’t just look at the dollars received or spent…
Another Tip for Negotiating Better Deals
Review existing agreements to see if you have any leverage…
When Negotiating Agreements…
An important tip for when you are negotiating an agreement.
Tips for Locating Agreements
What to do if you cannot locate a copy of an agreement.
The Benefits of Using Two or Less Providers for the Same Service
By reducing the number of providers you should be able to get better pricing, improved customer service as well as many other benefits.
There are Many Advantages to Outsourcing
Outsourcing can be a very efficient and cost effective solution to some of your biggest headaches.
Identify Local Providers and Start Negotiations
Using the matrix created in Step 1: Getting a Handle on Your Agreements, see if any of your communities are not offering a service or amenity that you believe would be beneficial.
Reduce Your Payback Period on Amenity Fees
Are you considering installing a Bulk Internet service or add any other “amenity fee” on a property within the next 12 months? If so, read this tip.
It’s Time to Negotiate a Better Deal
The next step is to see if you have the same service or amenity expiring this year on multiple properties.
Do you have a dedicated person to manage your ancillary agreements?
For every agreement signed, you should designate someone that is responsible
for overseeing, managing and making sure that the provider is living up to their
end of the deal.
Do you know what amenities and service contracts expire this year?
Start by getting copies of all your amenity and service contracts. Create a matrix that will allow you to sort and track them by property, by provider, and by expiration date.
Analyzing the Data Increases Opportunities
In Part 2 of Steps to a Successful Amenity & Ancillary Service Program, Andrew discusses the importance of analyzing your agreements. Implementing an effective Ancillary Services program requires more than just a casual glance each year or two at the services and revenue they generate.
Ask Andrew, Your Multifamily Ancillary Expert
Ancillary Services Management
7990 Oak Bridge Lane
Fairfax Station, Virginia 22039