group-purchasing-organization

5 Things to Look for in a Group Purchasing Organization

While a Group Purchasing Organization (GPO for short) might draw an image of your local wholesale club or some sort of pyramid marketing scheme, the reality is much different. Most GPOs revolve around multiple businesses joining together to making purchases as a single unit to save money. And it’s been that way for at least[]

multifamily-spend-management-software

How to Boost Your Bottom Line When Revenue is Booming

The apartment market is going strong. U.S. apartment occupancy is up to 96.2% and annual rent growth is averaging between 4% to 5%. Your property management company is probably doing well. In fact, very well. But if you could save $50 annually per unit on a 200-unit property, you could be doing even better—without adding[]

Purchasing Strategy Multifamily

How to Capitalize on Your Purchasing Strategy

Multifamily properties are valuable to their vendors, but sharing the wealth could put apartments at a disadvantage. Jennifer Lester, Vice President Vendor Management/Strategic Purchasing Advisory Service at RealPage, says a common mistake properties make is having too many vendors in their stable. At RealWorld in July, a team of purchasing specialists talked about effective techniques[]

Spend Management Multifamily

Properties can Add PEPP to their Step and Save through Spend Management

How effective are your spend management practices? Not many property managers or owners would turn down an opportunity to save $10,000, or they’d at least take a good look at how to do so. That’s what RealPage says is possible, when using the right spend management solutions. Based on a 200-unit apartment, a comprehensive spend[]

Spend Management Technology

3 Ways Spend Management Software Can Streamline your Purchasing Process

How you manage your money can make or break your property management business. In good economic times and in bad, it’s important to keep costs under control and reduce spending when possible. Tasked with streamlining your accounting process? Worried about letting money fall through the cracks? Start saving by embracing spend management and technology, and[]

Spend management multifamily

5 Ways Spend Management Optimization Helps Maximize Savings

The value of spend management has been well-chronicled throughout the multifamily housing industry. In recent years, the changing landscape of apartment operations has put more emphasis on a comprehensive program that enables property management companies (PMCs) to purchase the right products at the right prices from the right vendors on an ongoing basis. The goal is[]

Spend Management: Save Money by Standardizing your Property

The scenario is all too common in the multifamily housing industry. An apartment portfolio will unnecessarily spend itself out of a good thing. The fruits of years of planning and executing the next move in a major market or acquiring a new set of properties are slower to come simply because a spend management program[]

When Focusing on Revenue, Don’t Forget to Consider the Liabilities, Too

When providing voice, video, and high-speed Internet services to residents, property owners sometimes focus too hard on the potential revenue from these services. However, unless contract negotiations cover both sides—the potential revenue and liabilities—owners may find themselves shelling out much more than they bargained for originally.

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