A team of experienced Maintenance Supervisors and Service Technicians comprise FOURMIDABLE’s Procurement Team. The team oversees major maintenance projects, including creating and developing general specifications and site-specific specifications. The Procurement Team works closely with the Property Supervisor to ensure all budgeted capital improvements are effectively and efficiently completed. They assess and approve all major capital improvements exceeding $10,000 and conduct due diligence on new and existing properties, including generating repair cost analyses. The Procurement Team provides assistance by conducting Capital Needs Assessments to ensure appropriate Reserve and Replacement funds are available for future draws, as well as establishing schedules in the absence of Reserve and Replacement funds to create self-funded escrow accounts. Based on the collective needs of the entire Company’s portfolio, the Procurement Team has the ability to dramatically reduce the costs of many services.
The budget is the primary tool to ensure efficient and cost effective purchasing. A comprehensive budget allows the community staff and our Procurement Department to analyze the community’s needs for the upcoming year and to determine the most economical approach. Our Procurement / Maintenance Department reviews all of our managed portfolio’s capital expenditures, and based on volume, they are able to obtain more favorable pricing for our managed communities