Retain and Acquire Tenants

During market downturns tenants are faced with tough choices but also benefit from the increased competitiveness within the industry. Cost per square foot is largely dictated by market conditions. The ability of new and existing tenants to lease your space will depend largely on their financial condition and needs. However, building owners and managers do have direct control over key decision-making factors like quality of the facility, responsiveness to work order requests, a service oriented attitude, environmental controls, responsiveness to special and recurring requests, and green initiatives– including money saving Energy Star & LEED programs. Real estate organizations must elevate the quality of their programs to attract and to retain tenants.

Recover Lost Billable Service Revenue

Building owners average a 10% loss of potential billable revenues each year because billing information is inaccurate.  This stems from incomplete data capture and poor reconciliation. Assuming an average of $15 per square foot yearly (this is low) in potential billable tenant service revenue, a 10% loss represents a potential revenue increase of three dollars per square foot per year. Owners and managers need to leverage a WBOM solution that matches service request generation to the tenant’s lease terms. Furthermore, they must enforce usage of that system portfolio-wide, to ensure complete data capture, vital for billing purposes. Take advantage of the profit center represented by your engineering staff.

Capture Additional Revenue Opportunities

Driven in part by the current economic climate, our clients are looking at building operations and closely examining leases for ways to increase net operating income and positively impact asset value. One area we have seen recent change is an emphasis placed on billing for utility usage beyond what is considered "normal and reasonable." This is often driven by a particular client's business and the types of equipment that serve their specific space. While we understand that clients do not want to nickel and dime their tenants - it is reasonable and within their right - per the terms of their lease, to charge for excessive utility usage. Building Engines is developed with a highly flexible system architecture that allows integration into required fields, rate calculations for utility usage and to generate invoices. There is no need to find a new program or system to do this - it is available within the Building Engines platform.