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As a complement to our cost reduction enhanced services, we also offer a “other sources of income” engagement which is generally conducted in two ways. One way evaluates the types and amounts of fees charged by the property to tenants, owners, visitors, and prospective applicants. This evaluation can determine whether the level and types of fees being charged are in alignment with standard industry practices. The second approach to “other sources of income” involves reviewing applicable property and managing agent procedures to ensure you are receiving all of the miscellaneous charges that you are entitled to on a timely basis.
Once these procedures are established, we remain available to instruct the board or finance committee members on how to best monitor that the procedures are followed and that miscellaneous income is maximized.