One of the biggest challenges in condominium management is reducing expenses. Every commercial enterprise requires an investment in regular maintenance, services, and facilities management on the property to function properly. Overall operating costs vary depending on the size of the space, location and function of the building, or special features. As challenging as the task may seem, it is possible to achieve the goal with simple actions and measures.
Do you know exactly what the condominium expenses are?
Undoubtedly, the first step in lowering the condominium expenses should be to be aware of each of them. Salaries and charges for employees, costs for water, energy, gas and telephone, maintenance contracts, insurance, pumps and elevators, and administrative costs are just some of them. So understand your needs. They are unique to every commercial enterprise. Take the time to really consider them, and then define the best strategies for a customized solution that fits the business.
How to lower expenses?
Create sustainable strategies
When you think of sustainability what comes to your mind is only the preservation of the environment? Then you should know that sustainable actions can also bring savings. Strategies include the replacement of ordinary light bulbs for LED bulbs and water reuse systems, which contribute to savings in electricity and water bills.
Another action to reduce the condominium's energy expenses is the installation of motion sensors so that the lights are not turned on unnecessarily and leave equipment out of operation.
Implementing technology solutions
The use of appropriate technological tools can provide more security and, at the same time, reduce the costs of the commercial enterprise. There are several solutions such as virtual reception and access control systems, which reduce the need for employees. As a result, there are savings in payroll and condominium costs. In addition, access control systems are very versatile and can be designed for buildings of any size or function.
To get the most out of your access control system, it must be integrated with the other security and management systems in the commercial building. By working together, these integrations can help build efficiency and increase security. Remote monitoring and control can also be used to reduce the number of manual hours and shifts, and decrease energy expenditure.
Invest in preventive maintenance
You have probably heard the saying "prevention is better than cure", right? By investing in preventive maintenance, costs end up becoming lower than when there is an emergency problem. In this case, the tip is to have a check list of periodic maintenance considering daily, weekly, monthly, quarterly, and annually of all the equipment in the building, the maintenance time indicated by the manufacturer, and other details that show the correct period for each type of inspection and repair.
Evaluate and upgrade heating and cooling equipment
Heating and cooling can be another major energy-related expense for commercial property owners. Outdated equipment can leak or have inefficiencies as well as high electricity consumption. Invest in new appliances, as they offer special features aimed at reducing energy waste.
Pay attention to the telecommunications infrastructure
Telecommunications costs are fast becoming one of the most complex areas to manage for businesses today. It is no longer just a matter of adding more lines/cables. If the telecommunications is not adequate to meet the increasing demand placed on it, can be a major potential inhibitor to enterprise growth.
Tracking and optimizing your telecommunications services is a great way to start reducing expenses. If you want to take your telecommunications cost management to the next level, GLOBALBLUE's services can help you save even more in the long run.
Get to know GLOBALBLUE's services
We offer preparation, execution and management of telecommunications infrastructure projects. Thus, we act in the management of technical areas, including customer support, service to carriers and service providers, project analysis and approval, and other infrastructure management services.
A wide range of services, including 24/7 support and professional consulting. Contact us with us today to learn more about how support services can reduce your telecommunications costs and also your condominium expenses.
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