About Vitus
Vitus is a large, well-known affordable housing developer based in Seattle, Washington. Founded in 1986[1] , the company owns over 17,000 units in more than 30 states. They work hard to give economically disadvantaged families and seniors a place to call home.
Scott Muoio, Director of Asset Management, oversees the operations and manages relationships with 22 different third-party property management companies. And one of Muoio’s most important relationships is with EnerConnex.
Different States, Different Energies
Vitus utilizes third-party property managers because its housing is very geographically dispersed. It’s impossible to be everywhere at once, so they rely on trusted partners to manage their properties in different parts of the country. However, because they’re far removed from site-level operations, this can present a challenge. Furthermore, because the properties are in different jurisdictions, having a cohesive internal energy management department is not practical.
This contributed to Vitus’s primary challenge: securing the best possible energy rates for their properties and bringing consistency to operations across their diverse portfolio. The numerous property management companies in various states made this a difficult and time-consuming process. Vitus needed to find an energy consultant who could simplify the process and deliver the required energy information.
Streamlined Processes, Proactive Planning
Vitus chose to partner with EnerConnex representative Matt Holland to streamline their energy procurement. Muoio explained that “the fact that Matt’s able to work with us through all the states” was a major bonus for Vitus.
As Vitus’s EnerConnex representative, Holland monitors energy markets, negotiates contracts directly with providers, and proactively notifies Vitus when contracts are due for renewal. This has been a freeing experience, Muoio explained. “It takes some of the burden off property management and ownership,” allowing Vitus to focus on other core responsibilities.
Being proactive has provided significant value to Vitus. EnerConnex provides notifications about expiring contracts well in advance, ensuring Vitus gets the best rates without having to constantly monitor the market itself. And the partnership also provides a uniform, streamlined process for energy contracts across all properties, regardless of the state or third-party management company.
In Vitus’s line of work, long-term contracts can be a negative as they’re often difficult to terminate or assign to a new owner when they’re no longer providing value to the company. But since partnering with EnerConnex, Vitus has not had these issues, making the processes of buying and selling properties much easier.
The Results
Vitus has enjoyed reduced friction in transactions, saving them time and headaches. EnerConnex has been instrumental in efficiently terminating or assigning energy contracts during property sales without Vitus incurring fees or facing friction with buyers. This has made the transaction process smoother and more efficient.
The partnership has also been an educational experience for the Vitus team as they’ve learned valuable information about how different energy markets operate. For example, Muoio learned that many more markets are open to contract negotiations than he previously realized. That’s just one reason he appreciates having an expert like Holland handle the complex research and legwork.