Prior to switching to Daisy
Along with the rest of the board, Olivier was frustrated with the level of service offered by the previous management company: email response time was slow; projects remained at a stand still; and the information supplied by the property management company didn’t give him the confidence needed to make important decisions.
“Traditional Management companies simply don't care. They have no incentive to save money on vendors or raise the value of the building, as they measure their success purely on the number of buildings signed rather than on improvements within each building.”
‍
Olivier Sarfati

Board President, 160 Wooster
Although unsatisfied with the management, 160 Wooster wasn’t actively looking for a new company - mainly because the board felt that all property management companies are the same so it would be easier to stick to the current management company, as Olivier put it.
Issues 160 Wooster experienced prior to switching to Daisy
The building and the board faced a number of issues causing them to seek a better alternative to what they had become accustomed to with traditional management companies.
Poor project management: Projects lagged and the property management company was reactive rather than proactively seeking opportunities to improve the building.
Lack of efficient tools: The onsite manager lacked the tools needed to work effectively - resulting in tasks falling between the cracks. There was no efficient software or tracking system in place, while the accounting software couldn’t do simple tasks like show if any of the expenses were out of line.
Non-transparent vendor bidding process: The management company showed a lack of transparency regarding financial planning - especially when it came to vendor bidding and negotiation.
Transition to Daisy
Daisy took over 160 Wooster’s management on November 1st, 2020. 30 days before the official transition, an end-to-end analysis was performed:
“Once I came across Daisy, it was clear that it was time for a change. The transition was seamless, with constant  progress updates.”
‍
Olivier Sarfati

Board President, 160 Wooster
Daisy’s immediate impact
During the transition process, the Daisy team identified several issues that needed to be resolved in order to get 160 Wooster to a “healthy” status. Within the first 4 months of management, Daisy had fixed a leaking water tank, installed security cameras, removed a defunct rooftop antenna, replaced an inefficient water pump and cleaned out a decommissioned battery room.
“Our security camera project cost 50% less than the previous quote we received, the water tank repair was 30% cheaper, and our insurance carrier was replaced at a much better price.”
‍
Olivier Sarfati

Board President, 160 Wooster
What the future holds
The initial months with Daisy were about setting a new standard for the building’s operations, and improving the building’s “health”. We then focused on the building’s finances and creating a smart budget to enable strategic improvement of the building for the coming years.
We began a facade restoration project in order to be compliant with Local law 11 (FISP), which will continue into this year. This year, we are focused on decreasing energy costs, finding additional savings for the building, and offering more services that further elevate resident satisfaction.
