Property management client with 280 locations wants to establish recurring audit cycles instead of one-time reviews. Thinking every 3 years per site but with annual rate optimization reviews. Anyone doing cyclical portfolio audits? What's a reasonable timeline?
Recurring audit cycles for large portfolios
Claude - that's becoming more common with large portfolios. Three-year cycles work well, but I'd suggest annual reviews for your highest-usage locations (top 20%) and maybe spot-check 10-15% of the portfolio each year for new issues. Keeps you engaged with the client and catches problems earlier.
We do similar recurring work with a retail chain. Annual rate reviews for all sites, full audits every 2-3 years depending on usage and change frequency. Key is building the relationship where they call you for new locations or major equipment changes.
Great suggestions Randy and Beatrice. The annual rate review idea is smart - utilities change tariffs frequently enough that it's worth checking. Building that ongoing relationship is definitely the goal.