The waste disposal at multi-family properties can be mind-numbingly complicated. There are so many locations - and often just as many haulers.
So we’ve compiled the top three ways that multifamily properties can save.
This is no simple list. These are actionable steps that we’ve taken at hundreds of properties nationwide. These three things have saved companies hundreds of thousands of dollars. So we know they work - and that they’ll work for you.
Here are the top three ways you can save are:
Get an airtight waste contract
Review your valet services
Do a utility audit
I can’t overstate how critical all three of these are to your bottom line. We typically save 20-40% on waste disposal expenses - when you add in utility audits, those savings can double.
We don’t want you to leave any savings opportunities on the table! Let’s take a deep dive into each of these ways to save.
Get an airtight waste contract
When it comes to your waste expenses, an airtight waste contract is the very best way to prevent overspending - and waste issues!
A good waste contract will:
Prevent price spikes
Have great service provisions
Prevent fee charges
Is easy to cancel
Has appropriate service levels
When you contract has these provisions, you’ll have recourse. When you find a price spike, you can successfully fight it - and get a credit. When your hauler starts charging ancillary fees, you can likewise get a credit. And if the quality of their service levels start dipping, you can keep them in line. (A bad contract can be such an expensive mistake!)
Your contract represents an enormous savings opportunity. Don’t overlook yours.
Review your valet waste services
Valet services are an often overlooked way to save. When we complete a waste audit for multi-family clients, we always look at the valet services.
Valet services is a fancy term for door-to-door trash pick-up. Valet service will pick up garbage bags outside the residents door and dispose of it for them. It’s a fantastic benefit to offer residents because, let’s face it, no one loves taking the trash out. But valet services are often overpriced!
Let me give you an example.
We recently worked with a multifamily developer/manager who offered valet services at their properties. The WCI Project Manager noticed that the price per unit seemed to be awfully high. We were able to introduce a new vendor who was able to save them $28,800/year at just 3 properties!
Make sure you’re not being overcharged for your valet waste services. They can be a huge profit center for valet companies - but you don’t have to fall victim to them.
Examine your contract, and get a feel for market rates. Reach out to other area multi-family residences and ask what they pay for valet services. This will give you a really good idea about whether your services are overcharging you.
(Or, reach out to us for a completely free waste audit! They make savings simple - and they’re guaranteed cash-flow positive.)
Complete a Utility Audit
As successful as most utility audits are, it’s surprising how few companies know about them!
Consider the odds of winning the lottery - typically, there’s a one in a million chance. But if you know that your odds were better, wouldn’t you go buy one? What if your odds were 80% or higher?
This is exactly the opportunity a utility audit offers you. We find savings on utilities 80% of the time - and if we don’t find anything, you’re not charged a dime. I like to tell people that our audits minimize your resources and maximize your savings potential.
How exactly? Our audits work: we typically find savings through tax exemptions, rate adjustments, and eliminating unused meters.
A utility audit is the best way to know that you’re taking advantage of every savings opportunity available to you.
Stop overspending today!
We typically find that multifamily property managers have problems they don’t even know about. These problems typically cost thousands of dollars every year. And most of them are completely avoidable.
Make sure your waste contract is airtight. Ensure it eliminates or regulated price spikes!
Make sure you’re getting fair pricing for valet services. This is a huge savings bucket that companies typically ignore.
Make sure your utilities are under control! So many companies nationwide overspend. And they don’t have to.
Our risk free waste and utilities audits are tailored to your industry and your time constraints.
Why not reach out today? We’d love to show you your unseen savings opportunities - and how you can start taking advantage of them!