tenants | Building Engines
Building Engines Blog | Tenants
JLL-backed startup HiRise is set to disrupt the world of CRE leasing. Reminiscent of Airbnb for office space, HiRise is debuting in Washington, D.C. this summer (followed by a national expansion) and will be “the first online transactional marketplace where a tenant can actually search for commercial real estate, as well as complete the entire process all the way from search to occupancy, including signing a lease and paying the rent.”
By now, most property managers at least recognize that technology can deliver a competitive advantage. And according to leaders in the industry, 2014 is slated to be a record year for adoption among property owners and managers who want to leverage technology to deliver more efficient operations and exceptional customer service.
When evaluating service providers, property owners and managers often want to know what a company’s development plans are and how they reach their decisions. Unfortunately, it’s not always easy to distinguish between the thought leaders and the average joes, so we wanted to share our “10 Commandments of Product Development Planning,” gleaned from over 12 years of best practice pursuit.
Reputation goes a long way for a successful commercial real estate property owner or manager. It can take years to build and seconds to destroy – especially if you don’t have an efficient Business Continuity Plan in place. Communicating with tenants in real-time is a top priority in the event of an emergency. Do you know how you’re going to execute that?
Location, Location, Location. And Price. We all know these are the primary drivers when customers are choosing a property. But how do you get them to choose your property over the competition across the street? Focus on the one thing completely under your control: service.
Property owners and managers recognize that providing excellent customer service is essential to their success, but many fail to fully commit to creating the necessary strong tenant relationships. A component of a property manager’s compensation is often tied to factors like unit vacancy rates, timely payments, and tenant satisfaction, all of which are linked to the overall customer experience. Consequently, it is vital that managers implement strategies for tracking, measuring and coordinating services to boost value for their occupants.
Drawing in new tenants can be an arduous task. It doesn’t matter how much your property has to offer if you aren’t advertising those details effectively to potential clients.
In an ideal scenario, when one tenant moves out, building managers have another occupant lined up. Short turnaround times for vacant offices can significantly improve cash flow and revenue. Finding and securing new tenants can be a challenging task for property managers who lack experience in sales or marketing. Fortunately, there are strategies that can improve […]