Case Study
Property Developer Elated Over Savings
ERA helps Payce Properties find extra profit
The average savings for Payce Properties for insurance, cleaning and grounds maintenance was 38%.
The Expense Reduction Analysts (ERA) Solution
The client is one of the largest residential communities in Sydney called “The Waterfront” at Homebush Bay, adjacent to Olympic Park. The developer, Payce Properties, decided that they needed an independent assessment of all the strata and community association costs. They also wanted a greater transparency for the cost of landscaping, insurance and cleaning to owners and prospective purchasers.
ERA applied their expertise to the tender process and savings of 30% were achieved on insurance charges. The outcome for grounds maintenance had considerable savings of 40% and cleaning services provided the greatest avenue for savings with a 45% reduction in costs.
This has been a great outcome for the residents with reduced costs and greater service and accountability being given by all the facility providers.
Project Information
- Category: Strata Levies
- Industry: Property Developer
- Savings: Insurance 30%, Grounds Maintenance 40%, Cleaning 45%
“Expense Reduction Analysts professionalism, integrity and perseverance were exemplary. Not only did they find annual savings in excess of $500,000, they were also able to implement a more structured approach to the contracts and service providers. I am delighted to see that the outcome has been a resounding success”
Basil Klevansky
General Manager of Payce