In the dynamic world of commercial real estate (CRE), combining standardized building operations with the latest proptech innovations can bring transformative benefits. From enhancing asset value and tenant satisfaction to reducing operational expenses, a strategic approach to streamlined property management is key.
Let’s dive into how these two elements – standardized building operations and proptech innovations – can work together to revolutionize your property management.
Standardization: The cornerstone of efficient operations
Taking the time to standardize your building operations can yield incredible rewards. Allison Jakob, Senior Customer Success Manager, Building Engines, is a big advocate for it. During a session at the recent Building Engines Connect virtual event, Jakob pointed out that having uniformed operation protocols can “extend asset life and value, enhance tenant satisfaction, and reduce operational expenses.”
So how do you get started with standardizing your operations? It’s straightforward if you follow these steps:
- Create a template: Caroline Gadonas, Senior Customer Success Manager, Building Engines, said during that same Building Engines Connect session, “Creating a standardized template and applying it to each property ensures everyone is following the same criteria.” This guarantees a consistent approach across all properties, making streamlined property management a breeze.
- Schedule maintenance and inspections: The frequency of preventive maintenance (PM) and inspections depends on the specifics of each property. Gadonas recommends consulting your equipment owner’s manual to determine how often your equipment needs servicing. A consistent schedule prevents unexpected breakdowns and prolongs asset life.
- Monitor compliance: Keeping an eye on compliance is crucial. Jody Miele, Manager, Customer Success Team, Building Engines, advises pausing your PM or inspection programs temporarily to focus solely on standardization efforts. This avoids the chaos of trying to make changes on the fly.
Having these standardized procedures in place makes it easier to collect building data uniformly. Miele underscores this, saying, “Why should you standardize? Data, data, data.” Standardized data collection across properties is essential for effective measurement and strategic planning.
Proptech: Modernizing your operations
While standardization offers a robust foundation, proptech can elevate your operations to new heights. John Allain, Director, Mid-Market Sales, Building Engines, stresses, “It’s more important than ever to tech-enable your buildings to stay current.” Tech integration isn’t just a trend; it’s a necessity for staying competitive.
Introducing new technology often comes with hurdles, such as lack of education on proptech, resistance to change, and data security concerns. However, building a solid business case can make the transition smoother. Allain recommends:
- Assessing your current operations
- Identifying key decision-makers
- Demonstrating ROI
- Implementing a pilot program
- Providing thorough onboarding and enablement
- Setting clear metrics for success
Proptech offers numerous advantages, from increasing automation and operational efficiency to improving accuracy and enhancing data analysis capabilities. Allain summed it up well. He said during a session at Building Engines Connect, “We know more CRE operators are often tasked with doing more with less.”
Technology can ease this burden, allowing you to focus on strategic goals while driving down day-to-day operational costs. By combining tech advancements with standardized operations, teams can create a powerful mix of efficiency and effectiveness at their properties.
Streamlined property management
Integrating standardization with the latest proptech solutions not only creates streamlined property management but also positions you for future success. This combined approach ensures your property management is efficient, data-driven, and capable of meeting the evolving demands of tenants and stakeholders alike.
Embrace this blueprint for success and take your building operations to the next level! Contact a Building Engines expert today to learn how to get started.
