Building & Facilities Operations

Do you know the Fiery Five? No, they don’t occupy an attractive, elite table in cafeteria, but checking them out will be much more rewarding. They represent our latest and greatest in educational resources to help you properly assess and optimize your Fire & Life Safety systems. Not lighting your fire? The importance of Fire & Life Safety improvements can be summed up in four words: property loss and occupant injury.

The Fiery 5 in Fire & Life Safety:

1. Video (1:38)

3 Must-Do Fire & Life Safety Activities

Peter Harrod of RJA outlines three important steps to take when assessing your Fire & Life safety system, features and compliance.

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2. Microsite

Assessing the Condition of Your Fire & Life Safety Systems

View the complete Conquering the Code webinar presentation, bonus videos, a sample Fire & Life Safety Assessment Report, resource links, and more Risk Management tools!

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3. Video (2:07)

Potential Costs of Not Following FLS Best Practices

Peter Harrod of RJA speaks to the risk involved when fire life safety due diligence isn’t achieved.

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4. Blog Post

10 Biggest Mistakes People Make with Fire & Life Safety Systems… And How to Avoid Them

Fire & Life Safety systems are in place because unplanned incidents and mistakes happen. Those mistakes shouldn’t be the way you use your system. See if you’re guilty of the 10 common mistakes building owners and managers make with their Fire & Life Safety systems.

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5. On-Demand Webinar (35:40):

Conquering the Code with Peter Harrod, Fire Protection Engineer at RJA

This complimentary webinar will share how to recognize deficiencies in your equipment, identify code violations, and plan the retroactive and forward thinking changes that will attract and retain tenants, mitigate risk and positively position your property for resale.

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Manage fire & life safety, visitor access, incidents, certificates of insurance and more with Building Engines Risk Management Tools.

525,600 minutes,

525,000 moments so dear.

525,600 minutes

How do you measure, measure your response time?

Unfortunately, few will appreciate it if you try to measure response time in love. Like most people, the higher ups, prospects, and tenants like to hear numbers – real numbers. This makes maintaining accurate response time metrics is a high priority for most property managers.

Let’s take minute to think about this. Are you certain your data is truly representative of what is happening in the field? Unless your engineers are updating their work orders at the time of their work, there is a good chance your data is not as accurate as it could be.

In order for a response time report to be truly representative of what is happening in the field, the engineer overseeing the work order needs to be updating it in close proximity to their actions. Unfortunately, teleportation still hasn’t been invented [NASA, what have you been up too??] and in the real world, property managers frequently bear witness to a complex work order progressing from new to complete in a matter of minutes. This should raise a flag redder than Turkey’s.

This all too common scenario is typical of an engineer who has waited to update their work orders until the end of the day. In all reality, unless you’ve provided your engineer with a viable way to stay on top of their workload, and maintain accurate times for their work, can you really blame them?

This is where the mobile application comes into play. If your engineers currently have smartphones, than there is little barrier to spot on metrics. Recent advancements in smartphone application technology have given engineers the ability to regularly update work orders, see the latest comments, and receive new work orders, all in real time. This enables not only productivity**, but also quick work order turnaround and accurate metrics.

So forget Rent’s “in daylight, in sunsets, in midnights, in cups of coffee,” measure in real time – with mobile!

**So long as users resist Words With Friends

Like Rent references? There’s more where that came from: Echo-Boomers’ Booming Impact on Rental

While this time of year has most focused on reflections (both in the mirror and on the year gone by), Building Engines has its mind on Inspections. This evening, Building Engines proudly introduced The Inspections Module!

This brand new module will support:

Inspections of all types (Property, Environment, Tenant, etc.)

Mobile and iPad compatibility

Easy set-up and deployment

Highly flexible formatting and question types

Summary reporting with drill down capabilities

Save time and paper!

Based on client and market demand, this rich set of new features to our application will facilitate the creation and processing of paper-based property and tenant inspections. By digitizing this data and its associated processes, users will be able to build a wealth of information that can be easily consumed through our new inspections reporting dashboard. Take a look (or inspection):

Inspections Module Mobile Interface

Inspection Builder

Inspections Summary Reporting

We look forward to 2012 where we will continue to build new features and functionality into the application.

This season we are revving our engines for 2012, including a great plan to continue to build new features and functionality into the application. On December 22nd, we will introduce a new module! (hint: it rhymes with “schminpections”)

A theme you will see throughout the year, however, is technology-enabled best practices for building operations. For unlimited access to our operations best practices content, live and archived webinars, demonstrations, and more, you can join the Building Engines Inner Circle for free! We will ramp up our scouring of industry experts to gather more statistics, trends and best practices in property operations and workflow management than ever.

One major focus for the new year will be making data visible and actionable. You know all that data you’ve been collecting in your closet? Well, it’s time to make sense of it all! We will continue to evolve our analytics model and further develop the Building Health Quotient concept that we released in the latter half of 2011.

As we evolve the model, we will introduce functionalities including the ability to set your own benchmarks and targets, and then report against them. Over time, you will be able to use this data to create meaningul reports that reveal trends and reflect your progress in relation to set goals.

We are very excited for our plans in 2012, and we look forward to providing you with more visibility after the New Year.

This month marks the ten year anniversary of Building Engines’ first contract for sale. Since our first software license was signed in 2001, Building Engines has been revving its engines and building as a company. After a decade of successful partnerships, we must thank our loyal clients, driven team and savvy partners for their invaluable support. We look forward to continuing our growth path of expanded product development, services, and relationships!

Here is a look back at Building Engines’ Early History:

• January 2001 - Company Founded by Davd S. Osborn and John S. Childs under the name Requestcom, Inc.
• October 2001 – Work Order Manager Module launched
• November 2001 – First client: Meredith & Grew
• November 2001 - Visitor Access Manager Module launched
• March 2003 – First portfolio-wide client : Albert B. Ashforth, Inc.
• August 2004 – Company name changed to Building Engines, Inc.
• December 2004 – Preventive Maintenance Module launched
• January 2005 – First Healthcare Client: Golden Living (formerly Beverly Enterprises)

Here’s to many more milestones in the next decade!

Before you can answer the question, “How is my property performing?” you need to ask a few questions. An understanding of property performance is rooted in operational data that is documented, visible, and accessible. However, collecting and managing this data can often feel like searching for the Holy Grail, and wholly fail.

To satisfy and attract investors and tenants, develop easily consumed data around the areas of operations you should have insight into. But first, figure out what those areas are.

Here are the 5 questions about operational metrics you should ask:

Besides the obvious and easy to identify occupancy and retention/renewal numbers, how do you understand underlying indicators such as Tenant satisfaction?

This may encompass accessing and assessing information around your property’s:

• Management team
• Services performed
• Quality of the environment
• Amenities
• History of tenant activities and interactions

How do you assess and understand whether your management team is properly managing operational risk?

Assess your property’s level of:

• Planning and documentation processes for access to information from any location
• Information organization to ensure the ability to defend in the event of a legal matter
• Active certificates of insurance for all tenants and service providers
• Compliance with all life safety requirements (code compliance, inspections, documentation, etc.)
• Reduced insurance costs through a pro-active risk management program

How well is my asset and the equipment being maintained?

Your operational data should reveal that:

• Maintenance is documented
• Access to that information is easily available
• Capital planning is associated with maintenance activities
• The long-term capital effects of deferred maintenance are known
  
• There is NNN tenant compliance with maintenance requirements
• There is a noticeable reduction in energy costs with increased scheduled/preventative maintenance
• The amount of work performed by on-staff personal vs. outsourced service providers is documented
  

How do I receive information on the operational performance of my property?

Ensure that there is:

• Consistency and a standard format
• Frequency of information
• Enough information at a high level to clearly show the data that matters
  

How is one property comparatively performing in key areas?

Analyze how a property is performing in comparison to:

• Other properties in the management portfolio
• Other like-properties using a similar system
• Internally set targets of performance, including ownership target objectives
• Accepted industry standards

To hear an owner and investor’s perspective on the Metrics That Matter, sign up for a free webinar!

Date: Tuesday, October 25th, 12:00pm – 1:00pm EST

Register Now!

Building Engines announced the release of new tools for managing building equipment and capital assets more efficiently. The new features empower building owners and managers to search, track, report and act on equipment related data, helping them address maintenance problems and improve capital planning and expense forecasting.

The July Release enables users to plan for capital expenditures by assigning estimated replacement dates, costs, and installation fees for all equipment in a building or portfolio, as well as generate reports for capital planning. Additionally, an Equipment Search Page allows users to view audits of equipment changes, locate and report on any piece of building equipment, and take bulk action on scheduled preventive maintenance tasks.

Read more about the new features of the July Release here!

The importance of property maintenance falls not only on nonrecourse lenders but also on the property owners, brokers, and potential buyers- effectively the entire market. In the September/October issue of Commercial Investment Real Estate (CIRE), Tim Follain, FI Consulting co-founder and principal explains, “Neglected properties affect not only deal participants but the market as a whole as the industry tries to move itself forward in a stubborn economy.”

Follain refutes the practice of postponing maintenance activities on commercial real estate properties in “The Big Fix: Is deferred maintenance the next obstacle to market recovery?”

The first challenge is when incentives drop along with property values, and defaulting property owners with negative equity are best served by deferring property repairs and maintenance. They find it in their interests to extract equity at the expense of property maintenance.

Unfortunately, this casts lenders as some of the biggest losers. Lenders must turn to monitoring borrowers’ quarterly or annual operating statements to identify such properties before reviewing their loan documents.

While a casual look at the properties’ net operating income or debt coverage ratios won’t necessarily expose the ticking time bomb associated with deferred maintenance, looking at this data in more detail can help to identify trends in expenses indicative of deferred maintenance.

-Tim Follain

According to the article, property owners anticipating default should also consider the implications of deferred maintenance. Their ability to secure debt funding in the future may be jeopardized by their actions (or lack thereof). As lenders and equity investors devote more time to reviewing evidence of property maintenance in properties, brokers should anticipate a longer sale cycle. In spite of skewed incentives and challenges, deferred maintenance comes at a cost, one felt by all participants in the market.

Read the full article here.

In today’s fast-paced world, people need information as soon as possible. If a problem arises, it needs to be alleviated immediately-or avoided completely. Buildings need to be able to respond to tenant needs as quickly as possible, as well as keep the building running smoothly so no issues pop up. The answer? The cloud.

Simply put, real estate in the cloud is moving your business online. By properly utilizing the Internet, building data can be accessed at any time from a variety of sources. When you know what’s going on with your building instantaneously, you can react to it and keep your tenants pleased and free of problems. Three key factors separate best-in-class buildings from the rest of the pack: focused productivity, improved building operations, and improved tenant experience.

Moving into the cloud means automating certain processes that employees used to waste valuable time on. With these processes taking care of themselves, employees can focus on more worthwhile activities, such as interacting with tenants and developing stronger relationships. Your employees will become more productive, and your building will thrive.

Furthermore, bringing business online allows for an electronic preventive maintenance program. Monitoring equipment and making adjustments in real-time is crucial these days, in order to best predict when a problem will come up and to handle it before it happens. When you can catch a discrepancy in energy usage, realize that it means a machine is about to fail, and handle it before anyone can notice, you’re working in the cloud.

Finally, working online allows owners to monitor tenant needs and fulfill their requests almost instantly. Most tenants are already in the cloud, and they appreciate when outside aspects of their life are on the same level. If you can appease tenants with speedy response to issues and a smooth-running building, they will stay around and building revenues will benefit.

Bringing business online cannot be avoided. It leads to better employees, easily-managed buildings, and happy tenants. Bring your building into the cloud today and move into the future of building management.

In today’s ever-changing business world, companies who can seamlessly and successfully move online are proving to be successful, while those less adaptive to change are getting left behind.  Join us as Tommy Russo, CTO of Akridge Properties, presents a webinar on moving your business online and into the cloud.

As Chief Technology Officer, Tommy oversees all of the technological and informational aspects of Akridge. His duties entail discovering and implementing new, innovative information systems in order to provide clients with cutting-edge technology and lead the industry.  His background in information systems and residential and commercial construction makes him an industry thought leader in online business.

Tommy will discuss many ways to move your business online and take advantage of all the technology now available, turning your building into an efficient, predictable machine. Topics will include:

• Best practices for predictable maintenance and monitoring building equipment
• Tenant expectations across a variety of technology-enabled management services
• How to use technology to stand out from the crowd and impact your bottom line

These and other areas of discussion will show you how to easily move your business to the Web and find yourself amongst business leaders already in the cloud.  Don’t miss this informative webinar!  Sign up today!