Shafiq Hirani CCIMReal Estate Advisor, REMAX Distinctive · Real Estate Advisor at RE/MAX Distinctive Commercial | Washington, DC | Your Guide To Profitable Real Estate Ventures

Stop Vendor Creep & Vacancy Bleed: Save Thousands Now! #shorts

16 Jun 2026 · 1 min

Watch on YouTube

1:21

In this concise instructional YouTube short, Shafiq Hirani CCIM warns property owners that many have not competitively rebid their top vendor contracts for three or more years, leading to price drift of 10‑25% above market rates. He quantifies the daily rent loss from vacant units ($50‑$150 per day) and explains how a slow make‑ready process can add 8‑14 lost days per vacancy, amounting to thousands of dollars annually. Hirani advises owners to rebid their top 3‑5 vendor contracts to learn market rates and use competing quotes for renegotiation, without necessarily switching vendors. He also recommends defining a standardized make‑ready scope with a three‑day turnaround target and tracking performance. A case study illustrates the impact: after rebidding landscaping and trash contracts, an owner saved $4,500 annually, and by cutting turn time from 15 to 3 days, recovered an additional $4,400 in rent across three vacancies. The video ends with a prompt to watch video 5 for further details.

Chapters

Most owners have not competitively rebid their top 5 vendor contracts in 3 or more years. Prices have likely drifted 10 to 25% above market. Every day a unit sits vacant is a day you are not collecting rent. In most markets, that is $50 to $150 per day per unit. The average owner with a slow turn process loses 8 to 14 days per vacancy compared to an owner with a standardized make-ready scope. Across 2 or 3 vacancies per year, that is thousands of dollars in lost rent. For vendors, go out for competitive bids on your top 3 to 5 contracts. You do not have to switch vendors, but you need to know the market rate, and your current vendors need to know you know it. For turn time, define a standard make-ready scope. Set a target of 3 days. Track it. Hold to it. I worked with one owner who reset 2 vendor contracts, landscaping and trash, After going out for bids, he did not switch either vendor. He simply renegotiated using competing quotes. Combined annual savings: $4,500. He also standardized his make-ready scope, cutting the average turnaround time from 15 days to 3 days. Across 3 vacancies that year, that was an additional $4,400 in recovered rent. First, watch video 5.