Want to share a strategy that's worked well for many members - focusing on property management companies as your gateway niche. Property managers handle multiple buildings, understand utility costs matter to NOI, and if you do good work they'll give you access to their whole portfolio. Here's how to approach them effectively. - Randy D.
Property manager niche - my pathway to consistent clients
Randy - I've been trying this approach in Memphis with limited success. Most property managers I talk to say they already review the bills. How do you overcome that objection? - Calvin B.
Calvin, that's the most common objection. I respond with "That's great that you review them - you probably catch the obvious errors like wrong meter readings. What I do is dig into the rate structures and tariff compliance issues that aren't obvious. For example, I recently found a building on Rate SC-9 that should have been on TOU-GSD-A and saved them $340/month." Give a specific example that shows depth beyond basic review. - Randy D.
This approach has worked great for me in Charlotte. Started with one property management company, found $12K in errors across 3 buildings, now they send me everything. The key is proving your value on the first building then asking for the portfolio. - David K.
David - how did you find that first property management company to work with? Cold calling or referrals? I'm new in Irvine and trying to build my target list. - Bob A.
Bob - I used Loopnet to identify commercial properties then researched who manages them. Also checked BOMA member directory for our local chapter. Started with mid-size companies that have 20-50 properties - big enough to have multiple opportunities but small enough that decision makers are accessible. - David K.
Great advice David. I'd add that multifamily property managers are often easier to reach than office building managers. Apartments usually have on-site managers who deal with utilities daily and understand the impact on residents. Found some good TOU rate savings opportunities in Spokane apartment complexes. - Boyd H.
Boyd - what kind of savings do you typically find on multifamily properties? And do you work directly with on-site managers or go through the management company? - Gordon C.
Gordon - multifamily savings vary widely. Found one 150-unit complex saving $890/month by switching from Schedule A-6 to TOU-A rate with Southern California Edison. Another saved $450/month fixing power factor issues. I start with on-site managers but need approval from corporate for anything over $500 in fees. - Boyd H.
This thread is gold! I've been spinning my wheels cold calling random businesses in Winchester. Going to shift focus to property management companies and use these strategies. Thanks everyone! - Harriet C.