Visibility into Operations
Building Engines Blog | Operations & Management | Visibility into Operations
So, you’re dedicated to tracking and quantifying your team’s performance. Congratulations, you’ve made it to level 2! Next challenge: deciding what that means, aka what you need to measure. Here are the four places you need to look (and people you need to involve) for data before setting your KPIs.
“Team” does not mean “you”. Not to butcher the obvious, but it’s also not just a group of “yous”. Like music, “Team” requires more than a single note – like happiness, more than a single laugh. Team is a group condition carefully nurtured over time through soft stuff like trust and responsibility, and hard stuff […]
A while back we wrote a post covering ‘7 Reasons Why I Need Property Management Software,’ covering the emerging acceptance of technology in the commercial real estate (CRE) industry. Since then, the CRE Tech space has continued to grow. In 2015 alone, CRE Tech startups raised over $1.7 billion, according to venture capital researcher CB […]
How well do commercial real estate (CRE) professionals understand their tenants, and how do they manage their relationships? Building Engines surveyed over 300 CRE professionals within a wide range of industry segments; including commercial office, medical office, industrial, retail, and others; to find out. We broke down and analyzed the data, and compiled our […]
We talk a lot about improving tenant service delivery. But what we haven’t really discussed, or even mentioned, is self-improvement in property management. Aiming for the moon, and hitting a star type of stuff. And no, I’m not talking about a New Year’s resolution to hit the gym, or a promise to read a certain […]
In the most recent entry in our ‘CRE Tech Talks’ podcast series, Scott Sidman (SVP here at Building Engines) spoke with Brandon Sedloff, the SVP of Corporate Relations at the Urban Land Institute, on the nature of creating meaningful CRE conversations. The podcast touched on a number of great talking points (pun intended), from the […]
Over the past year, you may have heard about the Boston Red Sox going from worst to first in baseball – and becoming world champions! According to Bleacher Report and many diehard fans, Red Sox GM Ben Cherington formulated the winning strategy that fashioned the 2013 World Series Championship.
Benchmarking is the process of comparing one’s business processes and performance metrics to industry best practices from other similar companies. The metrics that are typically analyzed are those that focus on efficiency, reducing costs, and improving performance.
This holiday season, we asked our clients, “What are you thankful for?” Results ranged from ease of use to mobile capabilities to best practice knowledge. See what topped their lists below, and if their five faves aren’t part of your current package, it may be time to make a change. Enjoy!
Whether you’re evaluating potential property and tenant management providers or taking a second look at the system you currently have in place, customer service is a top priority.
In any highly competitive commercial real estate market, where location and price are relatively equal, building owners and managers need to differentiate from other options on the basis of amenities and service in order to retain tenants, attract new ones, and drive profitability. As the economy continues to improve and development picks up, the battle for business will only get tougher, and the same old approach to service doesn’t provide the leverage property owners and managers need to stand out.
When it comes to technology choices for Commercial Real Estate (CRE) property management, knowing which system (or combination of systems) you need to run your business can get confusing. Here at Building Engines we’re often asked what the differences are between the various types of tenant service or maintenance systems and which are the right choices for specific situations. To help answer those questions, we break them down for you below based on functionality and applicability.
Howard Roth’s article “Real Estate Transparency: Property Management’s Turn” is a call to arms for property owners and property managers alike. Roth suggests that asset managers are becoming too complacent with building management, and base their contracts on the convenience of existing relationships rather than “property management credentials.”
When managing a commercial real estate property, it is important to take time out to look past the immediate day-to-day fire drills and think long-term. Anticipating vacancies, renovations and other problems well in advance gives building managers the ability to develop plans to overcome these kinds of situations. Unfortunately, a recent survey by Jones Lang LaSalle found that […]
A growing number of owners recognize the potential in property and tenant management tools. Rather than view these tools only of concern to property managers, savvy owners recognize that operations management platforms can help them boost the value of their assets.