By Mike Sloan
Bulk Service Agreements can help property owners provide an amenity to residents, with a measure of cost certainty in the process. As with all agreements, the terms and provisions within the agreement will determine the relative value of an Owner-provided Bulk program. Here is a look at three agreement provisions to consider.
Term of Bulk Service
Service Providers will often negotiate an agreement where the term of the Bulk Service will be the same length as the term of any supplementary Access Agreement. However, Property owners should be assertive about asking for a shorter term for the Bulk Services (especially if this is the owner’s first foray into making Bulk Service available to residents); think of it as a “test drive” to see if Bulk Services are a good fit for yourself and your residents. These shorter terms can be structured for fixed periods of time with automatic renewals or the agreement could be drafted with a provision that permits the owner to terminate the Bulk Services and convert to individual billing for the remainder of the term of the Access Agreement.
Bulk Service Standards and Rates
An important consideration for property owners will be the level of services delivered to the […]