Property Management Case Study

A commercial property consultancy with a network of offices across the UK and Ireland.

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Property Management

A commercial property consultancy with a network of offices across the UK and Ireland.

Description

A commercial property consultancy with a network of offices across the UK and Ireland. They work with investors, developers and occupiers in both the public and private sector, managing some of the country’s most complex commercial property portfolios.

LSI has been managing the property consultancy’s portfolio for over 2 years, when the portfolio was first passed to LSI there was a large number of supplies, which were out of contract mainly due to credit and the fact that a number of supplies were in the name of overseas registered companies, trusts and receivers.

Action

Challenge

  • Single point of contact at LSI who works solely on the business’s portfolio
  • Monthly meetings to discuss the account, queries and any improvements that can be made
  • Simple procedures put in place for site addition/deletion and COTs
  • Weekly signoff, done by a single point of contact
  • Monthly Portfolio provided to the business that is saved in a common drive for all Surveyors, FMs and RFMs to access/review
  • Recovery of security deposits that are no longer required for the HH & Gas supplies

Solution

  • Find suppliers that will take on the whole portfolio including the overseas registered companies, Trusts, receivers and companies with bad credit
  • Control the debt issue and extend payment terms
  • Contracts were set up by FMs and signed off by RFMS so the availability of RFMs to sign off contracts needed to be managed
  • Avoid/minimise the requirements for security deposits. Manage the Change of Tenancies keeping the portfolio up to date
  • Set up a clear and detailed portfolio that that will be easily understood by Surveyors, FMs and RFMS
  • Have a common DA/DC so all HH consumption data is available in one place
  • Contract all MOP contracts with a common Meter operator on discounted rates negotiated by LSI to provide savings across the portfolio
  • Provide online access to invoices and reporting under a single login

Result

  • Produced a comprehensive portfolio for the 700 supply points
  • Contracted all supplies including the overseas registered companies, Trusts, receivers and companies with bad credit
  • Single supplier for NHH supplies with common end date
  • Single supplier for HH with no requirement of security deposits and a common end date
  • Claimed back any security deposits previously held on the HH and Gas supplies
  • Extended payment terms of 21days BACS and monthly debt reports to control the debt issue
  • Provide monthly site list to customer to review
  • Single point of contact for signing off contracts on a weekly basis with a cost analysis provided for each supply to clearly show saving/increase
  • Common DA/DC with access to online portal for HH consumption data presented in the many forms
  • Single supplier portal login to access all invoices and reports
  • AMR rollout project for NHH supplies to ensure accurate billing

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