Pennies, Nickels and Dimes, Where Can I Find More?
by Michelle N. on 2/4/2019 6:13:00 PM
As multifamily continues to evolve and mature there is ever increasing visibility, the need for speed and pressure on accountability. We know where the big dollars are, but the pennies, nickels and dimes add up! Big data is big talk, but how can it be used to drive more margin and improve profitability? What are the latest and greatest ancillary opportunities that can bring more revenue to the table, or enhanced service to our residents? What tools, tips and techniques are being used to optimize existing business processes and to drive down cost? How will Amazon and other purchasing processes impact me and my teams in the future? How can and will outsourcing be used to drive efficiencies and drive a better bottom line? Find out in this informative webinar, presented by Ken Miller from Buyers Access.
- Understand the significance of business metrics and data that help drive more margin and improve profitability
- Explore how ancillary income can boost the bottom line and increase resident satisfaction
- Learn techniques that are being used to optimize existing business processes and to drive down cost
- Learn how (big box/retailers) businesses purchasing process can impact the future of business
- Explore what best practices can be used to increase performance and set business on the right path
Tuesday, February 12
1:00 - 2:00pm CT
Courtesy Connection Partners with Buyers Access
by Michelle N. on 1/22/2019 12:44:00 PM
ATLANTA, GA (January 22, 2019) - Courtesy Connection, a next generation call management platform, is pleased to announce a partnership with Buyers Access (BA) of Denver, Colorado. BA is the leading provider of purchasing optimization services and customized purchasing solutions to the multifamily industry.
"We are excited to add Courtesy Connection to our diverse array of vendors and suppliers with a premier call management platform," says Hila Muchow, Buyers Access National Director of Supplier Management. "Courtesy Connection offers a robust and customizable platform that include best in-class phone trees, real-time call routing, instant notifications, one-click call recordings, and call data visualization. Buyers Access Members will now have access to negotiated bulk rate pricing, with a premiere call management platform."
Courtesy Connection CEO and Founder Ryan Nigro stated, "We are thrilled to work with Buyers Access and their members to deliver a modern call management platform to the property management industry. Courtesy Connection is a new solution to an old problem: how to most efficiently deliver the best service to residents and customers calling the property. While legacy answering services focus on deferred paging to site staff, Courtesy Connection is designed to give site staff real-time visibility to calls and the tools to best serve callers while providing management the data they need to keep site staff accountable."
About Buyers Access:
Buyers Access (BA) is the country's leading provider of customized purchasing solutions, serving more than 600,000-member units in the multifamily space. For more information, visit www.buyersaccess.com, or contact Dan Haefner at 303-991-5577 or firstname.lastname@example.org.
About Courtesy Connection:
Based in Atlanta, GA, Courtesy Connection is a call management platform specifically designed and implemented for the property management industry. Courtesy Connection's modern platform delivers real-time call routing, notifications, reporting, and call recordings. For more information, visit www.courtesyconnection.com, call 404.948.4255, or email email@example.com.
Roofr Announces Strategic Partnership with Buyers Access - Industry Leading Purchasing Optimization Group
by Michelle N. on 1/17/2019 10:44:00 AM
Ft. Lauderdale, FL – (January 17, 2019) - Roofr.com, a marketplace for roofing services, is pleased to announce a strategic partnership with Buyers Access (BA) of Denver Colorado, the leading provider of purchasing optimization services and customized purchasing solutions to the multifamily industry.
“We are excited to add Roofr to our diverse group of supplier partners, and to supplement our product offering with the industry’s top marketplace for roofing services” says Dan Haefner, CEO and President of Buyers Access. “Roofr is quite unique and offers owners and operators the ability to further maximize their resources by outsourcing the roofing services bidding process. Roofr’s vast network of roofing contractors allows multifamily properties to receive up to three detailed bids from qualified, vetted roofing contractors very quickly.”
As part of this partnership, BA will deliver targeted marketing programs centered around Roofr’s capabilities to source multiple roofing contractor bids directly through their simple but effective web-based user platform.
Roofr CEO Richard Nelson said, “Our goal is to change the way apartment communities purchase roofing services. We quickly procure 3 bids from qualified, vetted roofing contractors. We have a dedicated Project Consultant on every project ensuring every project is built to scope and goes without headaches. Our process has already saved homeowners and business owners millions of dollars in the Florida market alone.
About Buyers Access: Buyers Access (BA) is the United States leading provider of customized purchasing solutions, serving more than 650,000 housing units in the multifamily space. For more information, visit www.buyersaccess.com or contact Dan Haefner at 303-991-5577, firstname.lastname@example.org.
About Roofr: Roofr is a marketplace for roofing services. Their hands on, focused approach ensures that property owners save money and stay well informed throughout the entire roof replacement process. The process saves property owners on average 20%. For more information, visit: https://buyersaccess.roofr.com.
Bringing Procurement Optimization in 2019!
by Michelle N. on 1/4/2019 4:56:00 PM
The New Year promises to guide consumers to new forms of state-of-the-art technology and integrated service offerings. In 2019, Buyers Access will not only continue to provide procurement optimization to the Multifamily and Student Housing industries, but will also be partnering with industry-leading companies that will bring innovative means to improving operating income and process efficiency to members. We are excited for what this new year will bring!
4 Multifamily Development Trends to Watch in 2019
by Michelle N. on 12/19/2018 4:51:00 PM
Mixed-use development, lifestyle amenities, and the desire for more affordable housing will shape next year's development landscape.
By Dan Doyle
Changing demographics, shifting social values, and evolving development landscapes all continue to drive a surging, nationwide demand for multifamily housing. With empty-nesters looking to downsize, millennials staying single longer, and a general desire for a more convenient and social lifestyle, more and more “renter-by-choice” Americans are forgoing mortgages for lease agreements.
As demand for new housing units continues to drive the multifamily sector in 2019, developers are tasked with finding new ways to satisfy the growing need for apartments.
1. Expanded Project Portfolios to Meet Middle-Market Demand
As resident profiles expand, so too must the communities and units built to attract and accommodate them. The multifamily sector has been heavily weighted at the top end of the market in the past few years, but in 2019 the industry will experience an expansion of scope in order to serve a more diverse resident base, especially the middle market.
At The Beach Co., we’ve focused heavily on catering our product to a discerning and selective resident wanting luxury apartments. While demand for this product is still alive and well, we're looking to develop a more balanced portfolio of communities with a variety of price points.
In 2019, we’ll see a spike in demand for attainable rental options, and in fact, we’re already seeing demand for attainable housing in all our active markets today.
Through increased segmentation, developers are realizing that affordable housing options can't be a one-size-fits-all approach. While some developers in the most competitive markets—where space is at a premium—offer attainable housing in the form of micro-units, this approach is less popular in smaller markets.
Moreover, the tiny-apartment trend will be unable to satisfy the growing middle-market demand. In the Southeast, suburban areas present an opportunity to offer larger floor plans, which is key in targeting middle-market customers. To maintain a competitive edge next year, multifamily developers must adopt targeted solutions that appeal to each potential market, which includes paying more attention to attainable and more affordable housing solutions.
2. Increased Customization
The key to a successful lease-up is to differentiate your product to appeal to the demands of your market’s unique resident base. Developers are achieving new levels of project customization through enhanced research and development practices. Demographic research is a good starting point, but a deeper understanding of a potential site’s history, economy, industry, and culture all contribute to meaningful customization.
For example, knowledge of emerging industry in a region can be the impetus for new development projects. This was the case with The Beach Co.’s Summer Wind project, currently under construction in Dorchester County, S.C., which was conceptualized in response to a number of major international companies, including Volvo, Bosch, Boeing, and Mercedes-Benz, opening facilities in the area.
Conducting thorough market research before embarking on a new project is essential and goes beyond informed marketing efforts to heavily influence property and unit design.
Additionally, with the deluge of customer data now available, developers are better equipped than ever to ascertain the needs and desires of future residents. Conducting thorough market research before embarking on a new project is essential and goes beyond informed marketing efforts to heavily influence property and unit design.
A resident-centric application of customization can be seen in the continued evolution of amenity offerings. While the amenity war in the multifamily sector has been raging for the past few years, 2019 will usher in a wave of technology-focused amenity offerings like smart access-control systems and automated package-pickup services.
3. Shared Amenity Space
In recent years, mixed-use developments have thrived as a result of evolving lifestyle preferences among today’s renters. Whether in an urban-core setting or a suburban town-center design, young and old generations alike are seeking more-active, -social, and -walkable lifestyles with short commutes and proximity to leisure activities.
In response, mixed-use developments offer an artful blend of residential, office, and retail spaces. Consequently, prized amenities formerly only available to multifamily tenants are now available to nonresidents. Proximity and exposure to the greater community has led a growing number of owners to allow nonresidents to purchase memberships to common-area amenities such as fitness centers. This alternative finance stream marks a growing evolution in the multifamily business model and provides for greater utilization of a community’s fixed assets.
Additionally, employees of corporate tenants in mixed-use developments typically have access to the residential amenities as part of their benefits package. This will be the case with The Jasper, which my firm is currently building in historic downtown Charleston, S.C. Slated for completion in 2020, the luxury, 12-story, mixed-use building will include 219 luxury multifamily units, 75,000 square feet of Class A office space, and 25,000 square feet of first-floor retail. The mixed-use amenities feature high-end on-site dining and shopping; a rooftop pool and garden with a sundeck and outdoor kitchen; a commercial-quality fitness center; a clubroom with lounge and demonstration kitchen; and private wine lockers.
4. Urban-Core Workarounds
Today’s renter still wants to live downtown but is being priced out of the urban market. Construction costs remain high, so developers must look to alternative solutions like adaptive reuse of existing buildings to help solve some of the cost issues in the urban core.
In these markets, retrofitting an existing building may be more attractive, as the structure costs are already in place, so multifamily developers can deliver a product just as nice as a new community with a lower cost basis, resulting in a lower rent for the resident. Adaptive-reuse solutions will likely offer a slimmed-down, lifestyle-driven amenity package, which may include services such as refrigerated lockers for home grocery delivery or customer-driven parcel centers catering to online shoppers.
While we’re seeing a push for attainable solutions from urban-core renters, most cities have offered few incentives for developers to build affordable multifamily product in the past. In recent years, we’ve witnessed some cities doing away with or significantly reducing the number of required parking spaces in new developments by incentivizing developers and residents to promote and use alternative modes of transportation, such as ride sharing or public transit.
In 2019, we’ll see more municipalities putting programs in place to assist with affordable housing development, with some creating mandates that require a certain amount of affordable housing. To really make a project attractive to developers and local governments, I predict we’ll see more incentives for developers to make projects affordable in the form of subsidies through tax abatements, tax increment financing districts, or other forms of public–private partnerships.
Today more than ever, it’s important for developers to form partnerships with local municipalities in active markets to better understand the needs of the city and its residents.
Read more at MFE
Buyers Access Holiday Office Hours
by Michelle N. on 12/17/2018 6:15:00 PM
Buyers Access Partners with RMIS to Provide Vendor Onboarding and Monitoring Services
by Michelle N. on 11/28/2018 1:34:00 PM
Denver, CO - 11/28/2018, - Buyers Access (BA) is pleased to announce it has partnered with Registry Monitoring Insurance Services (RMIS®), a leading provider of onboarding and insurance monitoring services, as their exclusive Vendor Compliance provider. Through this partnership, RMIS will provide Buyers Access with the ability to provide robust compliance management services and technologies to all its customers.
“We are thrilled to add RMIS as a supplier partner, and we look forward to our customers benefitting from their expertise in vendor onboarding and monitoring” says Hila Muchow, National Director of Supplier Management, Buyers Access. “RMIS has a long history of providing customized vendor compliance solutions that streamline their clients’ ability to manage new and current vendors.”
RMIS’ programs are custom built to meet the unique operational needs of property management clients of all sizes and locations across the North America. All requirements are incorporated into a client-branded, web-based vendor registration portal that optimizes the process of onboarding and qualifying vendors. Each registered vendor’s Certificate of Insurance, W-9, contract, license and background screening results, and more are monitored and available to the customer.
“RMIS and Buyers Access share a commitment to provide exceptional services to our clients. We are very excited about our inclusion as a Buyers Access supplier partner” says Bill Nordhus, Director of Sales at RMIS.
About Buyers Access
Buyers Access (BA) is the United States’ leading provider of customized purchasing solutions, serving more than 600,000 housing units Nationwide in the multifamily space. For more information, visit www.buyersaccess.com or contact Dan Haefner at 303.991.5577, email@example.com.
Since 1996, RMIS has specialized in Insurance Monitoring and Compliance Services for property, facility management, and other industries. RMIS collects and monitors Certificate of Insurance information, manages compliance rule sets for its clients, and offers customized tools to significantly reduce risk, cut costs, eliminate paperwork, and automate the registration and compliance process. RMIS’ advanced technology coupled with live customer service gives clients peace of mind knowing they can utilize properly insured carriers who meet all their unique requirements. Contact RMIS to learn how a custom vendor compliance solution can improve your business.
Director of Sales
Experiences on Demand: The Next Phase of the Amenities Arms Race
by Michelle N. on 11/26/2018 4:28:00 PM
On-demand apps are shaping the world around us. Our recent partnership with Homee is an example of an on-demand maintenance solution for multifamily property managers, all at the tap of a button. Check out this article below on how multifamily owner–operators continue to race to find the next best method to separate themselves from the pack in a demanding industry.
Increasingly, offering a variety of amenities isn’t enough. Owner–operators must be able to deliver these attractions when and how residents want them.
By Devin Wirt
Amenities have been among the hottest topics in real estate for years, as developers and property managers continue to race to find the newest feature that will help them court a pool of residents that are increasingly seeking both experiences, convenience, and a sense of community.
Today, amenities are in demand not just at luxury residential properties but all manner of apartment venues, office buildings, active-adult communities, hotels, student housing, and across nearly every other type of asset. As amenity spaces have become the new normal, the reality is that many in real estate are discovering that coordinating, managing, and booking the precise mix of amenities needed to attract and retain tenants is both more difficult and costly than expected.
In many cases, expensive and well-crafted amenity spaces are going significantly—or, in some cases, entirely—unutilized. Many operators also find that bringing amenity providers to their properties is far more costly than anticipated. In markets like New York City, a typical fitness class can cost as much as $200 per session. Other associated costs, including insurance, maintenance, and the workforce needed to manage a full menu of amenities, place further strain on an apartment owner’s existing resources.
Whether today’s renters are ordering a pizza, calling a cab, or renting a movie, they expect to be able to order everyday services online or with their mobile phone or tablet. Across the country, the same phenomenon is taking hold with fitness classes, house cleaning, dog walking, and pet sitting. As this massive shift continues to advance, property owners and managers will need to keep pace by offering their residents a platform that places a full suite of amenities just a click away.
Technology Answers the Call
Fortunately, real estate is seeing a massive influx of technology solutions to address this societal shift. Platforms such as Hello Alfred have already begun to merge traditional butler services with the so-called “on-demand economy.” As more and more properties begin to incorporate amenities, the demand for a single, one-stop platform that can help customize, coordinate, and consolidate a full menu of services will only continue to rise.
Perhaps understandably, much of the conversation regarding multifamily amenities has focused on the latest and greatest features across the industry. What began with simple on-site swimming pools and gyms has quickly evolved into fitness venues, yoga studios, voice-activated technology, dog spas, and golf simulators.
But just as property owners and managers have been forced to reckon with renters’ desire for a sense of experience and community, they must also be ready to offer the level of convenience and on-demand access consumers increasingly crave.
As owner–operators continue to race to find the next method to separate themselves from the pack, they’d be wise to not just consider what amenities they’re offering, but how to deliver them to tenants in the customizable, on-demand fashion residents increasingly are demanding.
Debunking Common Buyers Access Myths
by Michelle N. on 11/15/2018 6:12:00 PM
There are some common myths and misconceptions regarding the Buyers Access Procurement Optimization Program. So, we’re here to debunk these myths, check it out below!
Myth: I am going to lose my discount if I partner with Buyers Access.
Fact: The myth is Buyers Access forces a client to give up existing supplier discounts or existing contracts. This is totally false. In fact, Buyers Access encourages our members to keep their discounts and contracts in place! Our approach to procurement is much different than our competitors. We guide our customers to increased savings and efficiency through training and reinforcing best practices of purchasing the right products, at the right time, for the right price. Our Member Services, Account Management and Data Analytics teams make sure these practices are followed all the way to each site level staff associate. Keep your discounts and keep your contracts! Since we are supplier-neutral, utilizing the Buyers Access platform does not equate to suppliers charging you more per line item. We ensure that you are always getting the best price for the goods and services you use every day.
Myth: I will not be able to use my same suppliers if I partner with Buyers Access.
Fact: Buyers Access works with all the major multifamily suppliers—we are not tied to one specific supplier. Our philosophy is we take care of our customer, so it’s our mission to ensure you get the best products at the best price, period. We will analyze your spending habits across your entire portfolio and present you with an analytical view of what you purchase and for how much and compare those results to our baseline data to provide procurement recommendations that will add to your bottom line—all the way down to the individual asset level.
Myth: I will lose my relationship with my sales rep with the suppliers that I currently use.
Fact: The relationship you have already established with your supplier sales representative remains the same, we don’t change or interfere with that relationship. In fact, being a Buyers Access Member enhances that relationship. With our direct access to the major multifamily suppliers, you can be assured of transparency and vendor-to-vendor cooperation that results in a more cohesive supplier-customer experience. We are supplier-neutral—which means our clients benefit from a wide variety of suppliers in our network.
Myth: Not sure I can purchase everything through Buyers Access.
Fact: You can purchase from any supplier, any time, and we’ll provide the analytical tools you need to make the most effective purchasing decisions.
Myth: I have to use the Buyers Access e-Commerce system.
Fact: Buyers Access does not require our application to be used by any of our members, but it’s there if they need it. Unlike some competitors, we assist you in tailoring your purchasing methods to meet the needs of you and your team. Our Members receive all the benefits of Buyers Access regardless of the ordering method they choose. Our Member Services and Account Management teams work with your site teams to assist in locating orders with suppliers, suggesting alternative item selections, and consolidating orders. Together, we partner for your overall procurement success.
Myth: Buyers Access has a warehouse.
Fact: Buyers Access does not stock any products—rather, we are your go-to source for procurement optimization. We help make the purchasing process more streamlined a disciplined by teaching each site team best practices for buying the items needed at an apartment community. Through our extensive data analytics, we help the teams understand what has been historically bought, at what price, and which items can be consolidated or alternative items selected that result in an overall cost savings to the community. By taking a holistic approach to purchasing, we ensure that our performance guarantee is met—month after month, year after year.
Myth: I can request ad hoc product pricing and buy from Buyers Access even though I am not member.
Fact: Buyers Access does not stock products—nor do we typically do ad hoc pricing requests for prospective clients. We feel the true relationship exists when we become an extension of your operations or procurement team. Our Member Services team directly supports your corporate back office as well as each of your remote site offices. Our Members have a full array of bid and bulk quote services available to them—and our supplier partners will only provide Buyers Access special pricing to current Members, so quotes for non-Members are not available.
Learn More—Become a Buyers Access Member—Why Wait??
Contact us today and find out first-hand why 600,000 apartment units (and growing) have adopted the Buyers Access Procurement Optimization Platform.
Buyers Access and Matrix Residential Announce Partnership To Promote Spend Optimization
by Michelle N. on 11/2/2018 2:42:00 PM
(Denver, 11/1/2018) – Buyers Access (BA) and Matrix Residential announced today that they have entered into a consulting agreement for Buyers Access to provide purchasing optimization consulting services.
Under this new agreement, Buyers Access will team up with Matrix to identify product standardization, spend consolidation and work flow process improvement opportunities. The new partnership will drive additional cost and time savings to Matrix Residential, which has nearly 26,000 units under management across eight states.
“We are constantly exploring new opportunities to enhance the experience for the people who live with us, work with us and invest with us,” said Tracy Bowers, managing director at Matrix Residential. “At Matrix, everything matters, and that includes providing a seamless and efficient purchasing process at our properties. We look forward to launching this purchasing optimization service in partnership with Buyers Access.”
Buyers Access is also excited to announce an additional service offering now available, which was developed in conjunction with Matrix as part of this opportunity. Within this new hybrid format, larger owners and operators will now have the ability to place an Account Manager in-house at a physical location of choice, effectively adding additional staff at no extra cost. Internal resources can now have greater direct access to the Buyers Access personnel, processes and services.
About Buyers Access
As the nation's leading Purchasing and Cost Control specialist for the multifamily housing industry, Buyers Access provides real estate owners and operators with full service purchasing solutions to help maximize the value of their real estate assets. Since 1986, Buyers Access has helped thousands of properties and hundreds of companies to reduce operating costs and drive improved cash flow, while leveraging substantial personnel time savings. For more information, visit http://www.buyersaccess.com or call 1.800.445.9169
About Matrix Residential
Founded in 2010, Matrix Residential is the wholly-owned property management subsidiary of Pollack Shores Real Estate Group. The Atlanta-based company manages an award-winning portfolio of nearly 26,000 multifamily units across eight states, and is dedicated to creating exceptional experiences for its residents, investors and employees. Together, Pollack Shores and Matrix Residential are rooted in their mission of maximizing the value and living experience for every community. For more information about Pollack Shores, visit pollackshores.com/. For more information about Matrix Residential, please visit www.matrixresidential.com/.