Whatever role you play in the purchasing process of your properties, everyone has the same goal—do more, spend less. Managing the overall spend of multiple properties can be daunting, but when done strategically, you can rest easy knowing you got the best bang for your buck.
Selecting the right purchasing structure is crucial for optimizing your process throughout your properties. Depending on your size and property spread, it may not be an easy, quick decision. There are pros and cons to any structure so it’s important to weigh each option. You may even decide that a hybrid structure is best for your needs.
When people buy groceries, they decide which stores will save them money and offer the products they need. Some stores require membership fees; some focus only on specialty groceries, while others provide the widest possible range of products. Group purchasing entities work in a similar way. Like the grocery store example, understanding the subtle differences is key to finding the right purchasing partner.
Compliance and rogue spend and purchasing, OH MY!! While these words seem daunting, they are key to staying on budget and increasing net operating income (NOI). In order to fully map out a purchasing strategy you need to define what compliance means for your organization and communicate that to your employees.
In the multifamily housing industry, nine times out of ten, you don’t have a dedicated purchasing department like other types of organizations have. Regardless of the departmental makeup of your company, the goods and services STILL have to be purchased.Without team members dedicated to optimizingsupply chain and purchasing, you may be missing out on savings and ways to streamline the process.
In multifamily housing property management, there is often a lot going on at once. You may wear a lot of different hats requiring you to juggle diverse responsibilities including everything from future resident tours to purchasing refrigerators.
Multifamily housing property fires are one of the most common disasters that cause major damage to communities nationwide. Whether the fire started in one unit and spread or it started as a wildfire, there are a few ways you can put up defense in order to protect your property and residents.
Imagine you're sitting at your desk with a mound of work to do and then BAM-an email hits your inbox about an upcoming property inspection. What do you do first? Do you know what steps you need to take to be prepared?
Multifamily housing owners and operators are managing millions of dollars across numerous categories and often with limited procurement resources. With a growing to-do list, the team responsible for purchasing is tasked with delivering reliable products and services on quickly and at the best possible price.
