ATLANTA—Want to shave a few dollar—or a lot—of dollars off your property management expenses? You can put a smile on your face with these five tips from JLL regional manager of Property Management Steven Froot.
“For a 34-story trophy office asset on Brickell Avenue that JLL manages, we were able to be very cost-conscious by arranging a group bid for vendor services to get better pricing for the client,” Froot says. “Additionally, we utilized some very strategic sustainable programs to reduce energy usage at this particular building and that had a positive impact on its operating expenses.”
His five tips are:
1. Offer amenities in the building that enhance the tenants' experience.
2. Implement a strong tenant relations program, which should include making regularly scheduled visits to tenants, to ensure they are highly satisfied.
3. Ensure excellent curb appeal at the property to help create a positive first-impression when prospective tenants are touring the building.
4. Invest resources in creating an energy efficient building to make it more affordable for the tenants and ultimately, for the property's ownership as well.
5. To compete and stay cost conscious, regularly bid out services to ensure you are getting the best service pricing in the industry. Hiring a competent and experienced property management firm that can act as an extension of the ownership can help achieve this goal.
Want some more tips? Check out this advice from Yvana Rizzo.
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