Property Management is a simple job. It just requires the management company to be experts in numerous fields from plumbing to freehold leases, to instigate and project manage several often complex tasks simultaneously and lastly to deliver on time and on budget. Preferably, under budget and early.
As one of the largest property management companies in London they have responsibility for over 400 properties. However they realised that with utility costs spiraling that to deliver the most competitive contracts and properly manage the suppliers and the accounts required expert market knowledge.
Seymour Hicks has delivered on two fronts.
Saving Money: Using our market knowledge and strong personal relationships with key contacts at the utility companies we have helped our client save their clients over £100,000.
Saving Time: As each account was taking around 3 hours to resolve – assessing the renewal offer, going to the market for competitive quotes, evaluating the proposals, terminating a contract (where necessary) and agreeing a new or existing supplier – that represented 1200 man-hours or 36 weeks.
Add 15 minutes at the end of each month to check and validate the bills for every account to ensure there are no anomalies or mistakes on the part of the supplier (a not uncommon problem) plus resolve issues when there are and that equates to another 1200 man-hours or 36 weeks.
In summary, we saved £100,000 and freed up 72 weeks of equally valuable time.