Asset Living
Asset Living is the nation’s largest third-party student housing property management company. The company manages over 120,000 beds at more than 1,000+ separate properties in multiple states throughout the country and, prior to working with Infinity Power Partners (IPP), Asset Living had no centralized strategy for managing the energy needs for this sprawling network of assets.
“We chose to engage IPP to manage the energy of Asset Living, a multi-state, 300+ property management company. They saved us well over six-figures in onetime costs like Texas state sales tax refunds as well as the recurring costs of energy. Infinity is an excellent on-going
partner for our company.
— Ryan McGrath, President”
Key Takeaways: IPP’s Solutions for Asset Living
IPP put in place a customized solution for Asset Living that was specically tailored to manage Asset Living’s energy needs. The IPP solution, while a complex mix of specialized services, may be viewed as falling into three categories:
Nationwide Power & Natural Gas Procurement Consolidation
Asset Living’s assets cover the entire country and therefore come into contract with several energy providers, regulations, and local governments. IPP aggregated the entire Asset Living asset base under IPP management, promulgated the use of the most up-to-date contract terms, and saved Asset Living over $600,000 in power charges over a 4-year term.
Customized & Sustainable System
Centralized and standardized system: IPP’s solution includes a centralized and standardized method for integrating new assets going forward that saves time, and continues to reduce costs.
State Tax Audit
Texas sales tax audit: IPP conducted an audit of sales taxes and refunds in Texas to find tax efficiencies based on their specialized experience. IPP put in place a system to ensure taxes were handled the best way possible moving forward. Asset Living received over $200,000 in Texas Sales Tax refunds for their clients.
“IPP was instrumental in negotiating with the suppliers to get advantageous contractual language for Asset Living and our ownerships. We didn’t have it before but
it’s crucial in protecting our assets. And it levels the contract to an even playing field with the REP.”
In summary
Favorable contract terms
By negotiating with market providers centrally rather than piecemeal, the company benefits from tremendous economies of scale and increased brokering power.
Savings
By managing the entire system centrally using IPP’s market experts, Asset Living is in a position to take advantage of market opportunities that only consultants with IPP’s experience will be able to source.
Streamlining
Centralized management of energy needs has massively reduced the waste and inefficiency inherent to such a large asset base.
Ongoing customer service
Asset Living clients are now served by a centralized team of experts who provide more consistent, quality service.
Single point of contact
Regional Asset Living offices now have a single point of contact via whom to manage issues.
Marketing
IPP works with Asset Living to provide marketing materials for Asset Living’s management and tenants to promote the company’s energy efficient efforts.
Infinity Power Partners is a power and natural gas consultant and broker with offices in Houston, Texas and Cleveland, Ohio. The company provides procurement management solutions, risk management services, and market insight through the development of client-specific strategies and specializes in helping multi-family property managers. Such large-load consumers typically have sufficiently complex needs as to require the kind of knowledge of market dynamics, local and regional regulation differentials, and logistics that IPP has.
