Property owner approached me about auditing 12 small commercial spaces in his strip mall. Bills range from $800-$2,200/month each. Individual accounts wouldn't meet my minimums but together it's substantial. How do you typically structure fees for these multi-account deals?
Strip mall owner with 12 small tenants - how to structure this?
I charge a flat rate per account for portfolio deals like this, usually 60-70% of my normal percentage fee. The economies of scale work in everyone's favor. Make sure you get authorization from each tenant though - learned that lesson the hard way.
Derek's right about tenant authorization. I've seen deals fall apart because the property owner assumed they could sign for everyone. Also watch for accounts that might be on master meters - changes the whole dynamic if some spaces share service.
Good catch Randy - I'll need to verify the metering situation. The owner mentioned a few spaces share HVAC so there might be some master metering involved. Thanks for the guidance on structuring!