New Client Portfolio Evaluation
Quarterra – Marisol Apartments
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Client Review: RealtyCom Partners was hired by our client to organize their contracts, evaluate and recommend enhanced service offerings for residents, and to identify potential revenue opportunities that would increase asset value.
The Work:
RealtyCom Partners collected and reviewed 77 existing agreements across 65 assets, determining 67% of the properties had opportunities for new revenue-generating agreements.
We prepared a comprehensive evaluation of the current marketing and wiring rights, service speeds delivered, and customer usage on each asset. Our summary included all assets owned by this client across different markets, highlighting those with the same provider to argue the need for a portfolio offering. Additionally, we collaborated with the management team to assess how the services will be operated and marketed to potential residents.
Based on our findings, two key objectives were established with our client: (1) to validate and optimize current revenue sharing agreements and re-negotiate improved terms where possible, and (2) on certain asset class types, to add technologies for implementing smart home features to enhance resident amenities. We selected provider candidates and sent RFPs to multiple Service Providers for a combination of both traditional marketing/revenue agreement types and Managed Wi-Fi services to accomplish these goals.
Simultaneously, RealtyCom Partners performed an extensive audit of all existing revenue share payments to ensure collection of past due funds, prior to executing new agreements.
The Results:
Negotiating and facilitating this process, RealtyCom Partners ensured agreements were renewed earlier and at improved terms to maximize profitability. Resident amenities were enhanced by integrating smart home features, enabled by Managed Wi-Fi services – which increased both resident satisfaction and property revenue streams.
RealtyCom Partners’ efforts resulted in an increase of $6.5M in portfolio value, in addition to revenue audits resulting in collection of $400k in past due funds due to our client. The new telecom agreements negotiated by RealtyCom Partners added considerable value in courtesy services to eliminate property expenses paid under commercial services for common area Wi-Fi, televisions, and fitness equipment.