② Farrow Road
COLUMBIA, SOUTH CAROLINA
The property's tenants were seriously concerned about the lack of maintenance and property repairs. However, the cost estimates had overwhelmed the property owners, adversely affecting the tenant morale and leasing situation.
REGAIN’S APPROACH: New Contractors Often Means New Lower Quotes.
The REGAIN team reevaluated the issues and re-bid the work with new contractors. Meetings were held in person to find the biggest impact on the building in an effort to receive lower quotes. REGAIN found a common and persistent issue with flat roofs leakage around the perimeter by climbing up on the roof and talking with the roofers. They were clear: “We could fix these leaks around the edges, and you’d be good.” The price would be $19,000, not $100,000. REGAIN obtained gutters for $1,500, not $15,000, and determined that the paint work could be reduced and done by in-house personnel. With the money saved, REGAIN could address more pressing tenant issues, including landscaping and pest control.
RESULTS: Dollars Saved. Value Increased.
REGAIN's “shoe leather and elbow grease” approach saved Columbia property owners more than $100,000. They addressed tenant concerns with minimal spending and secured the property’s future and eventual sale at a profit.
