New Client Portfolio Evaluation
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Client Review: RealtyCom 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 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 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 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’s 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 added considerable value in courtesy services to eliminate property expenses paid under commercial services for common area Wi-Fi, televisions, and fitness equipment.
Since partnering with RealtyCom in 2018, they have become like a part of our team providing valuable knowledge and resources to support our telecom strategy.
Since 2014 we’ve built a great partnership with RealtyCom based on our core principles of trust, and they continue to help us in telecom planning, negotiation, and contracts.
With every opportunity, we consider the needs of our employees, residents and communities we serve. RealtyCom has become part of this process and is one of our most respected industry partners.
RealtyCom’s deep knowledge, resources and focus has helped add value to our portfolio through new revenue sources. We have been fortunate to partner with a team whose values match ours.
RealtyCom has helped us enhance our resident services, find new revenues sources, evaluate opportunities, and above all, ensure that our residents are provided with the best possible telecom service.