March 2009 Newsletter
Never Being Comfortable with Client NOI
by Tina West, COO, Sunrise Management
My father always told me “No matter what you’re doing, you can always do better.” It’s a spirit of improvement that I’ve carried with me all my life. Basically, to my mind good enough never is.
Since Sunrise’s founding in 1978, we’ve combined a complex set of finely honed skills, with sales, marketing, maintenance and an ability to control costs just a few of the ingredients in our recipe for successful property management.
However, the most consistent factor through our 30 years of top-notch multi-family community oversight has been, and continues to be, our vendor relationships.
Simply put, we at Sunrise Management have come to recognize the critical role played by steady, ongoing vendor relationships. Our clients rely on us to treat their money as if it were our own, prompting us to always keep a sharpened pencil nearby in an effort to lower costs.
Sunrise’s team of professionals regularly do two things:
- Test the market in search of appropriate providers of products and services capable of delivering quality, price and quantity for the properties in our portfolio. This allows us to ensure we’re getting the best possible prices at all times for everything we and our owners need.
- Cherry pick the finest providers to work with on an ongoing basis. Transforming these vendors into partners, locating multiple properties at which we can work with them, and establishing long-term commitments to and from them encourages substantial savings, which in turn get passed along dollar-for-dollar to the owners of the properties we manage.
Regularly reviewing property needs and provider capabilities is critical to ensuring there’s a good match for each owner’s needs. Because whether we’ve been working with someone for two months or for 20 years, we know there’s probably someplace we should be able to tighten up the process and lower costs.
We recognize the unique needs of each property and community, of course, and remain committed to preventing cookie cutter solutions from sneaking into any department at Sunrise. By carefully blending three decades of property management insight with thorough research and state-of-the-art bookkeeping technology, the watchful eyes at Sunrise ensure that every property gets just the right amount of every type of care with a just in time budget management strategy.
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