Recession-proofing tips for commercial real estate property managers?
So the problem of cost control is real. What are your strategies to stay afloat?
[{"id": "ijeps84", "text": "1. Get a roommate \n2. Pack lunch &amp; eat at home\n3. Live below your means", "replies": [{"id": "ijg0cye", "text": "Don\u2019t forget, cut out the avocado toast!  Haha", "replies": [{"id": "ijg0kpd", "text": "That\u2019s right, Graham Stephan!", "replies": [{"id": "ijgu2t7", "text": "I thought he was about sharing avocado toast but don't buy coffee.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ijg379i", "text": "Comb through your expenses.. In other words get rid of any frivolous useless subscription that you\u2019re not using.", "replies": [{"id": "ijhf8nz", "text": "Tools and software?", "replies": [], "depth": 2}], "depth": 1}, {"id": "ijg37uk", "text": "Comb through your expenses.. In other words get rid of any frivolous useless subscription that you\u2019re not using.", "replies": [], "depth": 1}, {"id": "ijg4zoc", "text": "Drug dealing is proven to stand the test of time or so I've heard", "replies": [], "depth": 1}, {"id": "ijhlihs", "text": "Diversify. Managing multiple small tenants could be better than one big tenant. Just a thought..\n\nContract renewals. Be there for them when they need you, but work smarter not harder. If maintenance management is the issue, get the tool that automates it and doesn't give your team headaches.\n\nAudit your tech stack. Chasing a shiny object at down-time could easily turn into a cost blowing tactic. Less is more. Watch for these criteria: impact the tool makes (hours saved? cost savings? game-changing insights?); how well it integrates with other tools; how much you're paying; does your team really use it?)", "replies": [{"id": "ijiafrs", "text": "Thanks. It\u2019s easier said than done lol. They all claim to be the integral part of the tech stack. I work at a relatively big CRE property management firm, and my team inherited some expensive, yet archaic tools. The irony is none of them actually specialize on commercial assets. It\u2019s hard for me to build a case to change the \u2018we\u2019ve always done it this way\u2019 mentality..", "replies": [], "depth": 2}], "depth": 1}]