Multi-family Facilities Can Save Money When Upgrading Mechanical Systems

4 MIN. READ

Like making other improvements to your building, upgrading the mechanical systems in your apartment units and multi family facilities is an inevitable reality. Do not wait until the situation has worsened.

Rather, be proactive and get your plan together. Line up prospective contractors and go out to bid. Here is how Raiven can help make the process more efficient.

How multi-family facilities can streamline the Bid process

When its time to put together a bid request, people get anxious. The process is tedious, time-consuming, frustrating and exhausting. This is because there are a lot of manual processes - sending out emails for information, calling vendors to coordinate walkthroughs, doing the walkthroughs, reviewing bids, delivering results and much more.

The old way of doing bid requests is not ideal. Fortunately, there is an easier and more efficient way to conduct this process and get the results you desire. Raiven has an online platform that can streamline the way multi family facilities conduct business - including the bid process.

Let us look at a few ways that Raiven's software can make the bid process better:

• Save time (and money) - Time is your most valuable asset. Apartment managers have many tasks to prioritize during their day, and losing time means losing money. The bid process will consume hours of your time if you let it. But when you use Raiven’s software, it streamlines the entire process.
• Improve efficiencies - You can conduct the bid process right from the platform. You can send out bid packets, the parameters and the scope of the project, and vendors will have an online portal to submit all their relevant information. The process is centralized and organized. You can also keep track of all responses and manage the contractors involved.
• Measure results - Be intentional when you review your bids. Take the time to go over all the pros and cons of each bidder. (Having a well-organized bid packet will make this review process smoother.) Sometimes the low bidder is not the clear winner. Instead, look at the intangibles - relationships and future possibilities with your potential vendors. With Raiven's streamlined platform, keeping tabs on this information to make an educated decision is easy.

Contractor onboarding and compliance

After you have gone out to bid and have selected a winner, the next step is to onboard them into your system.

They will have to fill out paperwork - I9s, credit applications, insurance documents, licenses and permits, and banking details, just to name a few. These are sensitive and confidential documents that need to be stored in a secure area. With Raiven, each vendor has a self-service portal where they can upload relevant information.

The software stores all of these essential documents in a centralized digital storage domain. This allows multi-family managers to ensure compliance and limit risk. In fact, the software sends alerts and flags vendors that have expiring or already expired documentation.

This level of transparency and automation will allow you to breathe easier knowing that your vendors are compliant.

Ensure the best pricing

Multi-family property managers are always conscious of the bottom line. The constant pressure to grow revenue and increase NOI is real. Your stakeholders hold you accountable, and in turn, you hold your vendors and contractors accountable.

Use software to your advantage in this aspect too. Raiven can help you vet suppliers, select the best fit for your company and work to ensure that you are receiving the best pricing available. The software also keeps “score” of your contractors and gives them a rating.

Raiven’s Quality Contribution Index^TM is an innovative system that continuously evaluates contractor performance and gives feedback on your selected partners. It looks at compliance, safety issues, customer feedback and pricing. A score is then dished out, and it gives you data for future decisions and projects.

Additionally, Raiven has access to a wide range of suppliers nationwide that provide steep discounts on routine supplies that multi-family properties require. Having this information on pricing makes it easier to tell when a contractor is trying to gouge you on supply costs.

Raiven makes it simple

We all know the adage “Work smarter, not harder.” This is what software does for multi-family facilities.

Raiven allows you to make smart decisions when selecting vendors, saving you time and streamlining your processes. As a result, you can focus on other areas of your business. To find out more about how Raiven can help your business grow, reach out today.