Every building is unique. One building did save over a million dollars. A Folson business audit could lead to significant savings for your building as well. As soon as the board enters into an agreement with us, we can give you an approximate estimate of savings. Some fixed costs could potentially be reduced by at least 25% and some variable costs could be reduced even further.
Managers and Boards have come to believe that because those costs are fixed, they cannot be reduced. This is where we disagree. For instance, everyone knows that electricity is necessary, hence a fixed cost. However, we work with boards on reducing the amount of electricity that buildings consume. We then we take that one step further and also advise on reducing the cost of electricity. This has resulted in annual savings of as much as 50% in electricity costs. We think "outside the box" and thus help reduce those costs which aren't necessarily thought of as being able to be reduced.
Simply tell the board members that you found a service that will help them cut a long list of the building’s costs in a very short period of time, with no risk or out-of-pocket up-front fees. Then, offer to schedule an introduction.
We perform separate functions apart from the managing agent. The managing agent specializes in the day-to-day operations of the buildings that they are working on and often does not have time for a lot of ad-hoc requests. We specialize in financial and business analysis. We review, suggest, and implement 2 or so projects per month, potentially implementing over 25 projects in a year. This same procedure would take the board and managing agent years to accomplish, resulting in lost savings for your building.
Hiring us may provide enough savings to pay for your big project! Big projects are always taking up a lot of the board’s time. Hiring us as soon as possible allows you and your board to continue to work on your project, while we work on our analysis, suggestions, and implementations for your building, simultaneously. It shouldn’t take more than 10 minutes per monthly meeting to vote for our suggestions and less than 15 minutes between meetings reading a suggestion list (which can be discussed over the phone or via email) including potential questions and answers.
If we don't find savings, we do not get paid. We do not sell you a product, we work on an incentive basis. We cost you nothing out-of-pocket, we only share your savings after you realize them, and only for a short time. You continue to save after we have moved on!
Some savings are realized immediately, but most are evident during the next billing cycle. It generally depends on whether the billing cycle is monthly, quarterly, or yearly.
Working with us should take less than 10 minutes in the monthly board meetings and less than 15 minutes via email or phone including questions and answers between meetings.
There are no up-front costs. Our fees are a percentage of your savings for a limited amount of time.
Once your building agrees to work with us, we begin an immediate, comprehensive review of your building.
Then it doesn’t cost you anything, and we’ll even be happy to put it in writing if you would like to show your owners that they are in good financial shape!
We believe your building should be run like a business. We have an average of 20 years of experience as Wall Street business analysts and direct experience as successful co-op board members. We are applying our analyst business experience of identifying companies that are inefficiently priced in comparison to their business operations and applying that in ways for the building’s operations to improve efficiencies.