12-09-2009

- Lodging/Hospitality
- Residential Properties
- Hospitals
- Rehabilitation Centers
- Clinics
- Nursing Homes
- Elder Care Facilities
- Schools/Universities
- Government  Agencies
- Manufacturers
- Professional Offices
- Office Buildings
- Commercial Properties

11-16-2009

Utility costs are skyrocketing, bills are piling up, and many condominiums are in foreclosure. In this economy, every business, including condominiums, must continually attempt to control expenditures and manage costs. While property managers are busy taking care of the building and the needs of its residents, a business consultant can save your building substantial funds by managing contracts for utilities and other services, without charging any up-front fees.

 

A good business consultant analyzes the invoices and continually searches for new ways to save your much needed funds. Many property managers attempt to manage the vendor contracts; however, they cannot be expected to have the skills, knowledge, or time required. Performing the contract and billing reviews requires the specialty services of a business consultant.

 

With a business consultant, not only is spending controlled, but there is a chance at recovering funds from past billing. Typically when a property manager hires a business consultant to manage the vendor contracts, they request invoices for the prior two-year period, vendor contracts, and current bills. In addition, the consultant should accompany the building engineer on a thorough examination of the building.

 

Below are some examples of the savings that can be uncovered:

 

Condominium “A”—forensic analysis of the bills immediately revealed several irregularities. With the property manager’s permission, FP&L was contacted and $26,000 was recovered in the overpayment of electrical billing. In addition, their monthly water/sewer bills were reduced by 25 percent by conducting a thorough on-site audit of their building envelope and plumbing systems.

 

Condominium “B”— analysis resulted in a 25 percent reduction in their water/sewer bills. In addition we $60,000 was recovered overall, resulting from irregularities in historical billing with a private vendor. For this condominium, their utility expenses were reduced by 18 percent.

 

Condominium “C”— 70 percent saved on their trash bill and due to historical irregularities in their billing, they will receive free service for two years.

 

What is done to save these condominiums money and recover funds from historical billing? First, a site analysis is made to examine the mechanical structures unique to each building. Then a thorough forensic analysis of all the historic billing is conducted and each vendor contract is reviewed.

 

This is followed by a report to the property manager and/or the board of the findings and the recommendations. With the permission of the board, negotiations with the various vendors and municipalities are started. Finally the results are presented to the condominium.

 

In addition, there is continued monitoring of the billing and continued searching for additional areas of savings, for the term of the contract. Fees are often based on a percentage of the condominiums savings. Consulting work is provided in a variety of areas: Gas/Electric, Water/Sewer, Elevator, and Telecom/Cable, Credit Card Processing and Payroll Processing. All options are discussed with each client.

 

In today’s economy, everyone needs to save money. A business consultant is a good place to begin.

 

Terry Lefkowitz is a principal with ECS Business Services in Miami, FL. For more information, visit www.ecsbusinessservices.com.

08-27-2009

ECS Business Services decreases Acqualina Resorts' expenditures.
   

06-18-2009 ECS Business Services worked with the Mimosa Condominium Association to save money on their utility bills.

06-24-2009 ECS Business Services worked to save Blue Ash Investments on their utility bills.

06-05-2009 ECS helps JCC recover funds from Miami Dade for the over billing of water and sewer bills