RealtyCom Partners team of advisors and project managers have extensive industry expertise to analyze a client’s existing portfolio of communities to find missed opportunities to enhance technology, revenue, and property benefits. We not only negotiate telecommunications marketing rights and contracts, but educate and advise our clients so they’re armed with all the facts to make the best business decisions for their assets and residents.
Putting The Puzzle Pieces Together
Imagine working on a 10,000-piece puzzle and how long that would take to solve – that’s a fitting analogy for what it’s like to analyze and piece together multiple agreements from multiple service providers utilizing different systems and wiring. That’s exactly the challenge that RealtyCom Partners is equipped to solve, thanks to the expertise of its veteran team of contract and due diligence specialists with 75+ years of combined industry experience. Because of their long-term relationships with all of the national and regional service providers, RealtyCom is able to provide comprehensive, agnostic insights to clients to help them assess options with their asset teams and make informed decisions for their portfolios and their residents.
Bob Reiss, Senior Director of Operations at RealtyCom Partners, has 30+ years of industry experience, and his team finds poorly negotiated contracts and conflicts in the language of various agreements are just two of the ways that RealtyCom Partners helps our clients assess and navigate their risk.
“When we get an agreement from the provider, we pull nearly 100 data points and put it into our Salesforce system for our team to analyze and provide client reporting. When we have negotiated proposals with current or new providers to serve the property, we present our client with a very detailed proforma. This breakdown includes very useful information about terms, financial advantages, scope of work and pros and cons of a particular provider or option,” said Reiss. In cases where there are multiple marketing agreements, RealtyCom provides a financial analysis that allows clients to make those NOI comparisons between one, some or all of the agreements on a monthly and annual basis.
Reiss continued, “Sometimes clients can have 3-5 agreements per property that need analysis from technical and legal standpoints. By breaking it all down for them, our clients can make better choices on how they want to proceed.”
Getting Our Clients Their Fair Share
“When we audit a new client’s revenue share agreements, we go back several years and often find that a service provider hasn’t paid revenue share for that duration. Or perhaps they stopped payments mid-term due to an administration item, such as needing an updated W-9 form. On more than one occasion, we’ve discovered revenue share hadn’t been paid in 5+ years. Our clients can be assured we’d find those issues and rectify on their behalf,” Reiss explained. In order to ferret out this information, the RealtyCom team does a deep dive with the permission of the client and then returns a full audit for the amount of time they’ve held the agreement. In some cases, this loss of revenue sharing goes undetected by the previous owner. As Bob says, “this gives us a good starting point for negotiating a better deal for the client than what they currently have.”
In the case of one client who asked RealtyCom to evaluate their current service offerings for residents and determine if there were any revenue opportunities at their 17 assets, RealtyCom’s due diligence uncovered critical information that resulted in newly negotiated agreements for 70% of that portfolio and maximized revenue and reduced operating expenses through additional courtesy services for common area services.
RealtyCom Partners is uniquely qualified and connected to help you increase your ROI through efficient portfolio management and continual investigation. Visit our website and read the portfolio acquisition case study to learn how we can help you.