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    Frank Presentation Exp Ideas   Draft 3 Frank Presentation Exp Ideas Draft 3 Presentation Transcript

      • January 27, 2010
      Expense Savings Ideas
    • Expense Savings Ideas
      • Today is a competitive environment for business
      • Are all of your assets paying the same price for the same service?
      • RMs and PMs do not communicate with each other
      • Rethink and rebid services / products
      • Provide a schedule so all RMs and PMs can share information and create competition to save
      • Select expense categories to review
    • Expense Categories to Review
      • Pest Control
      • Landscaping
      • Alarm Monitoring
      • Answering Service
      • Trash Haul Service
      • Telephone Line Analysis
      • Turnkey Analysis (Interior Paint, Apartment Clean and Carpet Clean Analysis)
      • Maintenance Supplies
      • Ideas from roundtable attendees
    • Pest Control Analysis     Monthly Monthly           Pest Control Pest Control           Contract Contract Old     Community Name # of Apts State $ Per Unit Contract Savings Comments The Abbey at Forest Lakes 400 FL $ 670.00 $ 1.68     Bids received and NOT any better than the pricing we are currently receiving. The Abbey at East Cobb 200 GA $ 200.00 $ 1.00 $ 250.00 $ 50.00 New contract executed, effective 1/1/2010. The Abbey at Gwinnett Place 200 GA $ 200.00 $ 1.00 $ 250.00 $ 50.00 New contract executed, effective 1/1/2010. The Abbey at Ridgewood Plantation 180 SC $ 190.00 $ 1.06     Mo & Team getting proposals. The Abbey at Fossil Creek 202 TX $ 218.67 $ 1.08 $ 252.22 $ 33.56 Signed contract with Envirotral at $1.00/door plus taxes per month (month to month contract) - start 11/1/09. The Abbey at Hightower 302 TX $ 326.92 $ 1.08 $ 376.71 $ 49.80 Signed contract with Envirotral at $1.00/door plus taxes per month (month to month contract) - start 11/1/09. The Abbey at Barker Cypress 300 TX $ 324.75 $ 1.08 $ 373.44 $ 48.69 Signed contract with Envirotral at $1.00/door plus taxes per month (month to month contract) - start 11/1/09. The Abbey at Briar Forest 680 TX $ 736.10 $ 1.08 $ 846.52 $ 110.42 Signed contract with Envirotral at $1.00/door plus taxes per month (month to month contract) - start 11/1/09. The Abbey at Briargrove Park 234 TX $ 253.31 $ 1.08 $ 291.32 $ 38.02 Signed contract with Envirotral at $1.00/door plus taxes per month (month to month contract) - start 11/1/09. The Abbey at Eldridge 760 TX $ 822.70 $ 1.08 $ 946.12 $ 123.42 Signed contract with Envirotral at $1.00/door plus taxes per month (month to month contract) - start 11/1/09. The Abbey on Lake Wyndemere 360 TX $ 389.70 $ 1.08 $ 389.70 $ - Signed contract with Envirotral at $1.00/door plus taxes per month (month to month contract) - start 11/1/09. Old contract was higher on per unit based, but not higher on actual dollar basis due to property being new construction and in lease-up. The Abbey at Grande Oaks 261 TX $ 261.00 $ 1.00 N/A $ - Good vendor & rate - kept contract. The Abbey at Medical Center 340 TX $ 367.63 $ 1.08 N/A $ - Good vendor & rate - kept contract. The Abbey at Stone Oak 300 TX $ 324.38 $ 1.08 N/A $ - Good vendor & rate - kept contract.
    • Landscaping Analysis     Monthly Monthly           Landscaping Landscaping           Contract Contract Old Monthly   Community Name # of Apts State $ Per Unit Contract Savings Comments: The Abbey at Forest Lakes 400 FL $ 6,000.00 $ 15.00 $ 5,821.18 $ (178.82) Signed contract with FieldStone - does not include irrigation - too expensive! (30 day out in new contract) - old landscaper was going to raise contract 4% which is higher than the contract with FieldStone. The Abbey at East Cobb 200 GA $ 1,850.00 $ 9.25 $ 1,850.00 $ - Contract now includes irrigation inspections (monthly) plus replacements of heads and nozzels. The Abbey at Gwinnett Place 200 GA $ 1,755.00 $ 8.78 $ 1,755.00 $ - Staying with current vendor after reviewing bids - manager happy with current landscaper. The Abbey at Ridgewood Plantation 180 SC $ 1,668.00 $ 9.27 $ 2,795.00 $ 1,127.00 Executed contract effective 12/1/09 with Coastline Scapes; including irrigation service, new contract will save $1,127/month or $13,524/year. The Abbey at Fossil Creek 202 TX $ 1,502.33 $ 7.44 $ 1,878.14 $ 375.81 New contracts negotiated to included irrigation repairs. (New Vendor) Old contract was $1,878.14/month. The Abbey at Hightower 302 TX $ 2,225.00 $ 7.37 $ 2,229.95 $ 4.95 New contracts negotiated to included irrigation repairs. (New Vendor) Old contract was $2,229.95/month. The Abbey at Barker Cypress 300 TX $ 2,491.27 $ 8.30 $ 2,491.27 $ - New Contract included irrigation as same old contract price.
    • Alarm Monitoring Analysis           Monthly NEED TO REVIEW BILLS TO VERIFY SAVINGS         Alarm Any models with alarms send cancellation notice; review all maintenance shops with alarms and cancel where appropriate (install sirens in shops).   Most Recent Prior Bill Average Monthly Contract Maturity Community Name # of Apts State Bill 2009 Variance Vendor Date Notes The Abbey at Barker Cypress 300 TX $ 64.84 $ 91.85 $ 27.01 Southcross 1/26/2010 Gave 30 day notice on 8/5/09 for maintenance shop. 30 day notice ANYTIME The Abbey at Briar Forest 680 TX $ 37.83 $ 75.66 $ 37.83 Southcross 7/10/2010 Gave 30 day notice on 8/31/09 for maintenance shop. 30 day notice ANYTIME The Abbey at Briargrove Park 234 TX $ 48.66 $ 48.66 $ - HSE Alarm-Secure Pro 6/9/2010 IN CONTRACT & CAN NOT NEGOTIATE: 30 day notice prior to maturity The Abbey at Eldridge 760 TX $ 27.01 $ 178.33 $ 151.32 South Cross Security 7/1/2010 Gave 30 day notice on models and maintenance shop on 8/5/09. (30 day notice ANYTIME). The Abbey at Stone Oak 300 TX $ 127.98 $ 155.00 $ 27.02 ADR 5/13/2010 Gave 30 day notice on maintenance shop on 8/5/09. 30 day notice prior to maturity (opt out clause)
    • Answering Service Analysis     Monthly Monthly Annual     Monthly   NEW SERVICE PROVIDER BEGINS OCTOBER 1, 2009   Answering Service Answering Service Answering Service     Answering Service       Contract Contract Contract Old Projected Contract   Community Name # of Apts State $ Per Unit Per Unit Rate Savings Vendor Comments The Abbey at Wisteria Crest 241 AL $ 35.50 $ 0.15 $ 1.77 $ 30.00 $ (5.50) A-1 Answering Svc. Changed service program with A-1 effective 10/1/09. Old contract rate was $30/month, but was not FLAT rate. The Abbey at Forest Lakes 400 FL $ 35.50 $ 0.09 $ 1.07 $ 30.00 $ (5.50) A-1 Answering Svc. Changed service program with A-1 effective 10/1/09. Old contract rate was $30/month, but was not FLAT rate. The Abbey at East Cobb 200 GA $ 35.50 $ 0.18 $ 2.13 $ 91.00 $ 55.50 A-1 Answering Svc. Changedto A-1 was effective 10/1/09; old rate based on call volume ($91/month). The Abbey at Gwinnett Place 200 GA $ 35.50 $ 0.18 $ 2.13 $ 75.00 $ 39.50 A-1 Answering Svc. Changedto A-1 was effective 10/1/09; old rate based on call volume ($75/month). The Abbey at Fossil Creek 202 TX $ 35.50 $ 0.18 $ 2.11 $ 74.69 $ 39.19 A-1 Answering Svc. Changedto A-1 was effective 10/1/09; old rate was $74.69/month. The Abbey at Hightower 302 TX $ 35.50 $ 0.12 $ 1.41 $ 74.69 $ 39.19 A-1 Answering Svc. Changedto A-1 was effective 10/1/09; old rate was $74.69/month. The Abbey at Barker Cypress 300 TX $ 35.50 $ 0.12 $ 1.42 $ 90.00 $ 54.50 A-1 Answering Svc. Changedto A-1 was effective 10/1/09; old rate based on call volume ($90/month). The Abbey at Briar Forest 680 TX $ 72.00 $ 0.11 $ 1.27 $ 150.00 $ 78.00 A-1 Answering Svc. Changedto A-1 was effective 10/1/09; old rate based on call volume ($150/month).
    • TRASH HAUL ANALYSIS           CURRENT PRIOR       CURRENT PRIOR       If "On Call" If "On Call"       Cubic Yards Cubic Yards As of 1/10/10 Compactor Number Average Average       Per Unit Per Unit Notes/Changes or of Weekly Pick-Ups Pick-Ups Prior/Old Recent Monthly Current Name # of Apts State Per Week Per Week Comments Dumpsters Pick-Ups Per Month Per Month Expense Expense Variance The Abbey at Gwinnett Place 200 GA 0.1250 0.2000 Moved to on-call (July 2009). Trying to get to 2.0 pick-ups per month. SAVINGS NOT GREAT WITH LESS PICKUPS BECAUSE HAULS NOW AT FULL CAPACITY. Compactor   2.50 4.0 $ 1,511.61 $ 1,472.21 $ 39.40 The Abbey at East Cobb 200 GA 0.0850 0.1700 Moved to on-call (July 2009), property had weekly hauls; need to educate TEAM when to call for pick-up. SOME SAVINGS, BUT HAULS NOW AT FULL CAPACITY VS. HALF CAPICITY BEFORE. Compactor   2.00 4.0 $ 1,725.47 $ 1,508.88 $ 216.59 The Abbey at Ridgewood Plantation 180 SC 0.0556 0.0556 GOT BETTER RATE: Signed new contract with E-Z Dump; old haul rate $175/$32 per ton disposal fee plus environmental fee; new flat rate $120 plus $31 per ton disposal fee. Compactor   1.00 1.0 $ 640.66 $ 370.41 $ 270.25 The Abbey at Briargrove Park 234 TX 0.3590 0.3590 GOT BETTER RATE: Executed renewal with Waste Management, 20% discount off 1st month invoice; Invoices capped at $956.56 through 2010. RATES IN Q3 '09 HAD INCREASED TO $1,006/MONTH. Dumpsters 3x     $ 1,006.44 $ 956.56 $ 49.88
    • TELEPHONE ANALYSIS Property Name # of Apts Phone # Use Comments The Abbey at Regents Walk 219 (205) 945-8744 Fax & Credit Card / H2O   ANALYSIS COMPLETED   (205) 942-3825 Alarm Line CANCELLED (11/19/09) Office Lines do roll-over   (205) 942-6515 Line 1       (205) 942-2002 Line 2 & Burglar Alarm       (205) 942-5825 H2O CANCELLED (1/2010)     (205) 942-8479 Modem 2 CANCELLED (1/2010)     (205) 942-7232 Modem for Office Computer Could not cancl - other uses for this line. Must verify what they are.     (205) 941-3205 Unknown CANCELLED (1/2010)     (205) 942-9112 Unknown CANCELLED (1/2010) The Abbey at Forest Lakes 400 (813) 855-2698 Alarm CANCELLED (8/2009) ANALYSIS COMPLETED   (813) 855-6571 Alarm CANCELLED (8/2009) Long Distance billed at $0.05/minute   (813) 855-5605 Credit Card CANCELLED (8/2009) Lines are roll-over   (813) 855-5296 Fax & Credit Card       (813) 854-3071 Gates       (813) 854-3521 H2O Submeter       (813) 855-6681 Line 1 & Office Alarm     (813) 855-6682 Line 2       (813) 818-0846 Line 3       (866) 883-6619 Toll Free Number CANCELLED (8/2009)
    • INTERIOR PAINTING ANALYSIS Style Floor Plan Property State Painting Vendor Painting Comments Painting & Materials "they buy" PSF Painting & Materials "they buy" $ Savings 1 Bedroom Regents Walk Alabama Vendor #1 Old rate w/ Vendor #1 was $200 $0.22 / psf $ 175.00 $ 25.00 1 Bedroom Regents Walk Alabama Vendor #1 Old rate w/ Vendor #1 was $200 $0.25 / psf $ 175.00 $ 25.00 2 Bedroom Regents Walk Alabama Vendor #1 Old rate w/ Vendor #1 was $225 $0.16 / psf $ 190.00 $ 35.00 2 Bedroom Regents Walk Alabama Vendor #1 Old rate w/ Vendor #1 was $225 $0.18 / psf $ 190.00 $ 35.00 3 Bedroom Regents Walk Alabama Vendor #1 Old rate w/ Vendor #1 was $250 $0.17 / psf $ 225.00 $ 25.00 3 Bedroom TH Regents Walk Alabama Vendor #1 Old rate w/ Vendor #1 was $350 $0.15 / psf $ 250.00 $ 100.00 3 Bedroom TH Regents Walk Alabama Vendor #1 Old rate w/ Vendor #1 was $450 $0.15 / psf $ 250.00 $ 200.00 1 Bedroom Gwinnett Place Georgia Sexton Painting Old rate with PMG was $180 $0.22 / psf $ 130.00 $ 50.00 1 Bedroom Gwinnett Place Georgia Sexton Painting Old rate with PMG was $180 $0.19 / psf $ 130.00 $ 50.00 2 Bedroom Gwinnett Place Georgia Sexton Painting Old rate with PMG was $180 $0.15 / psf $ 130.00 $ 50.00 2 Bedroom Gwinnett Place Georgia Sexton Painting Old rate with PMG was $180 $0.14 / psf $ 150.00 $ 30.00 1 Bedroom Briargrove Park Texas United Painting Old rate $0.22/psf, new rate $0.19/psf $0.19 / psf $ 144.40 $ 22.80 2 Bedroom Briargrove Park Texas United Painting Old rate $0.22/psf, new rate $0.19/psf $0.19 / psf $ 212.80 $ 33.60 2 Bedroom TH Briargrove Park Texas United Painting Old rate $0.22/psf, new rate $0.19/psf $0.19 / psf $ 206.72 $ 32.64 3 Bedroom Briargrove Park Texas United Painting Old rate $0.22/psf, new rate $0.19/psf $0.19 / psf $ 273.98 $ 43.26
    • APARTMENT CLEAN ANALYSIS Style Floor Plan Property State Apartment Clean Vendor Apartment Clean Comments Apartment Clean Cost Savings 2 Bedroom TH Ashford Townhomes Alabama Vendor #1 Old vendor, Vendor #2 was at $70 $ 65.00 $ 5.00 3 Bedroom TH Ashford Townhomes Alabama Vendor #1 Old vendor, Vendor #2 was at $70 $ 65.00 $ 5.00 1 Bedroom Autumn Village Alabama Vendor #1 Old vendor, Vendor #2 was at $70 $ 65.00 $ 5.00 2 Bedroom Autumn Village Alabama Vendor #1 Old vendor, Vendor #2 was at $70 $ 65.00 $ 5.00 1 Bedroom East Cobb Georgia Bright Carpets Old rate with Sirius was $70 $ 65.00 $ 5.00 2 Bedroom East Cobb Georgia Bright Carpets Old rate with Sirius was $70 $ 70.00 $ - 2 Bedroom East Cobb Georgia Bright Carpets Old rate with Sirius was $70 $ 70.00 $ - 3 Bedroom East Cobb Georgia Bright Carpets Old rate with Sirius was $70 $ 70.00 $ - 3 Bedroom TH East Cobb Georgia Bright Carpets Old rate with Sirius was $70 $ 70.00 $ - 1 Bedroom Gwinnett Place Georgia One Line Colors Old rate with PMG was $75 $ 65.00 $ 10.00 1 Bedroom Gwinnett Place Georgia One Line Colors Old rate with PMG was $75 $ 65.00 $ 10.00 2 Bedroom Gwinnett Place Georgia One Line Colors Old rate with PMG was $80 $ 65.00 $ 15.00 2 Bedroom Gwinnett Place Georgia One Line Colors Old rate with PMG was $80 $ 65.00 $ 15.00
    • CARPET CLEAN ANLAYIS Style Floor Plan Property State Carpet Clean Vendor Carpet Clean Comments Carpet Clean Cost Savings 2 Bedroom TH Ashford Townhomes Alabama Vendor #1 Old Vendor's base rate was $45 $ 35.00 $ 10.00 3 Bedroom TH Ashford Townhomes Alabama Vendor #1 Old Vendor's base rate was $45 $ 35.00 $ 10.00 1 Bedroom Autumn Village Alabama Vendor #1 Old Vendor's base rate was $45 $ 35.00 $ 10.00 2 Bedroom Autumn Village Alabama Vendor #1 Old Vendor's base rate was $45 $ 35.00 $ 10.00 2 Bedroom Autumn Village Alabama Vendor #1 Old Vendor's base rate was $45 $ 35.00 $ 10.00 2 Bedroom Autumn Village Alabama Vendor #1 Old Vendor's base rate was $45 $ 35.00 $ 10.00 2 Bedroom Autumn Village Alabama Vendor #1 Old Vendor's base rate was $45 $ 35.00 $ 10.00 2 Bedroom Autumn Village Alabama Vendor #1 Old Vendor's base rate was $45 $ 35.00 $ 10.00 2 Bedroom Autumn Village Alabama Vendor #1 Old Vendor's base rate was $45 $ 35.00 $ 10.00 2 Bedroom Autumn Village Alabama Vendor #1 Old Vendor's base rate was $45 $ 35.00 $ 10.00 1 Bedroom Barker Cypress Texas Pro Choice Min Trip Charge of $45.00 $ 24.95 $ - 1 Bedroom Barker Cypress Texas Pro Choice Min Trip Charge of $45.00 $ 24.95 $ - 1 Bedroom Barker Cypress Texas Pro Choice Min Trip Charge of $45.00 $ 24.95 $ - 1 Bedroom Barker Cypress Texas Pro Choice Min Trip Charge of $45.00 $ 24.95 $ - 2 Bedroom Barker Cypress Texas Pro Choice Min Trip Charge of $45.00 $ 29.95 $ - 2 Bedroom Barker Cypress Texas Pro Choice Min Trip Charge of $45.00 $ 29.95 $ - 2 Bedroom Barker Cypress Texas Pro Choice Min Trip Charge of $45.00 $ 29.95 $ - 2 Bedroom Barker Cypress Texas Pro Choice Min Trip Charge of $45.00 $ 29.95 $ -
    • Maintenance Supplies AIMSCO Special Pricing
      • Compared AIMSCO’s lowest catalogue pricing to a major national competitor’s lowest catalogue pricing on 280 items which included the top 250 items (less large equipment) sold to the multifamily market by AIMSCO, plus Abbey Residential’s high volume items from usage reports.
      • Analysis showed AIMSCO was lowest price on 188 items (67%).
      • On the 92 (33%) items the competitor was lower on, AIMSCO agreed to supply these items at the competitor’s lowest catalogue price less 3%.
      • 4. On all other AIMSCO catalogue items, AIMSCO agreed to provide them at the lowest catalogue price less 3%.
    • Maintenance Supplies AIMSCO Special Pricing
      • AIMSCO also agreed to supply 113 items of Abbey’s choice (our highest $ volume items) at a specific agreed upon contract price which is less than their lowest catalogue price less 3%.
      • Partnership rebate incentive –
        • Annual purchases $ 1 – 250,000 1% = $ 2,500
        • Annual purchases $250,000 – 500,000 2% = $10,000
        • Annual purchases $500,000 + over 3% = $15,000
      • 7. Delivery and payment terms same as we are getting now from other suppliers.
    • Ideas from Roundtable Attendees