This was the challenge facing PAULSCORP (PAULS), a Denver-based leading capital management and real estate development firm looking to complete an impressive renovation project in 2021.
For multifamily residential companies, renovations can be a major expense, costing as much as $200 per square foot. Successfully and efficiently completed renovations can significantly raise a property’s value and prevent costly repairs, but for companies with a large portfolio, this can mean expenditures in the millions and even billions. Without a plan and a platform to manage expenses and ensure efficiency, costs and timetables can spiral out of control.
Formed in 1993 by industry leading executives in the Denver market, PAULS is a family-owned company with a longstanding reputation for quality work and excellent relationships. Their experienced team works alongside local development, management, and construction teams to build strong connections and meet their community needs and the highest design standards.
A leader in property management in multiple markets, PAULS set out to renovate more than 1200 units in Texas and Oklahoma. Such a large project required a serious commitment of resources. The PAULS team would need to be extremely efficient to achieve the desired return on investment in the shortest period.
This meant PAULS would have to perform the following tasks with minimal wasted resources:
- Allocate work to suppliers
- Ensure negotiated pricing was leveraged and adhered to
- Track supplier progress
- Organize internal and supplier workforces
- Review before and after pictures
- Make sure unit turnover to operations was efficient
- Stay within operational budgets
Consolidated Renovation Platform
All of these challenges required a single platform where the team could organize, plan, and smoothly execute. Not only that, but as purchasing Manager at PAULS, Barbara Wood understood that such a platform would need to reduce contractor pricing and prevent the easy slide out of budget range. FacilGo was the only choice to fill all those requirements and ensure the renovation project was completed on time and under-budget.
“We chose FacilGo to ensure service supplier pricing was leveraged on POs and mapped to invoices by unit per task,” Wood said. “It’s a good way to control costs for such an ambitious project.”
Elite Results with FacilGo
Lasting between November 2021 and December 2024 and powered by FacilGo, the PAULS renovation project was a major success. Working across 15 properties in Texas and Oklahoma, PAULS completed renovations on all 1250 units and released 3,950 POs. The total invoice value for the project came out to $8.35 million, with 3,899 invoices processed, all through FacilGo.
FacilGo creates and tracks well-defined transactions, and uses a change order process whenever suppliers find issues that need to be resolved. This ensures that clients obtain lien waivers from every supplier with each unit invoice submitted. FacilGo also helped PAULS field managers control work allocation across their entire supplier base, rather than sticking to two or three supplier options for each task.
“Reporting at the unit level to compare actual renovation invoice totals against planned charges is extremely convenient,” Wood said, and concluded, “The automated change order management process proactively identified and managed all our out-of-scope work, while the automated lien waiver process saved considerable time for our 23 suppliers who were managed using FacilGo.”
PAULSCORP (“PAULS”) results with FacilGo since November, 2021:
- Total units completed: 1250 across 15 properties in 2 states
- Total POs released: 3,950
- Total invoice value: $8.35M
- Average invoice approval time: 4.1 days
- Total invoices processed: 3,889
- Service suppliers managed: 23
