The Management Team, in coordination with on-site management, will seek to minimize the operating exenses at each property by employing the following controls:
- Putting in place a fixed-price contract for all labor costs associated with each property.
- Placing all utility costs under contract when market conditions are favorable to do so.
- Bidding out insurance coverage to responsible providers and keeping claims to a minimum through constant attention to the safety of each facility.
- Using maintenance contracts for elevators, fire supression systems, emergency back-up generators and HVAC systems to insure their proper funtion and reliability.
- Using bulk-buying programs wherever available to get the best pricing on consumable products.
- Closely reviewing each invoice for accuracy prior to being approved for payment.