With budget season upon us, it is a good time to get organized and get a handle on what contracts/services you have in place at each community and what the terms of those contracts are.
Getting a handle on your contracts and identifying the service provider, services being provided, expirations dates, etc., will allow you to quickly identify where opportunities exist to bring on new services and/or new service providers.
This will also enable you to identify communities that are missing a service/program or amenity and rectify the situation (this can happen for a number of reasons such as when a property is purchased and no one lets the provider know or a program was being implemented and due to a change in personnel it was never finalized).
You may also be able to consolidate service providers and improve efficiencies, streamline practices, or get better pricing. All of this will lead to an increase in savings and quite possibly a new stream (or two) of revenue.
Knowing this information (and keeping it current) will enable you to quickly make strategic decisions regarding your portfolio for years to come which will always lead to happier employees and residents!