With the advent of technology like smart devices, it’s never been easier to manage the pandemonium in our lives with just a few clicks. Whether it’s banking, travel, commuting, or even ordering your morning coffee, everything is accessible within a matter of seconds.
But tech has changed more than just our personal lives; it had revolutionized the way we operate businesses, allowing for more efficiency, visibility, and control. In commercial real estate, these recent advancements in technology have created powerful new ways to automate tasks, measure performance, and improve operational efficiencies.
Organizations who prioritize adopting this new tech – in our case, CRE software – are simply adapting to this changing world. In a study we conducted in partnership with BOMA International we discovered that those we are prioritizing new tech are 4 times more likely to deploy highly effective commercial property management software than those who wait. This means that organizations who don’t follow suit are potentially subjecting themselves to succumb to the chaos that surrounds them.
Here are four ways leading CRE organizations are proactively and effectively using new tech to control the chaos around them:
- Monitoring Performance to Keep a Pulse on All Aspects of Your Property. Unless we figure out how to clone property managers, you can’t be everywhere in your properties at all times. But effectively using CRE software can give you one holistic view of your property, which is the next best thing. Using tech as a mission control center makes it simple to manage anything from janitorial and engineering work to tenant satisfaction and communications in one central
locaton. Additionally, it will prevent different tasks your team needs to perform from falling through the cracks.
- Keeping a Close Eye on Tenant Satisfaction. Systemized and consistent feedback
givesproperty managers greater visibility into what goes on in their buildings. It also sheds insight into how satisfied tenants are at any given time with the work that’s being done by your team. Keeping a close eye on tenant feedback will also give you the power to identify any red flags that may pop up and prevent anything detrimental from happening that may decrease the happiness of your tenants. Not to mention, it shows your tenants that you take their happiness seriously, creating stronger and more trusting relationships. The ability for CRE software to automate the collection of feedback is revolutionary for tenant happiness and therefore, loyalty and retention. Those who keep this at the front of their minds are set up for success when working with their tenants.
- Making Preventive Maintenance Proactive. Preventive maintenance is essential to increasing the longevity of building equipment but these kinds of tasks are often difficult to keep track of and prioritize when there is so much happening in your building already. But reactively tending to maintenance means you’re constantly putting out fires that could’ve been prevented. Advanced CRE organizations use software today to streamline the process of planning, scheduling, and completing preventive maintenance work, ensuring that no critical tasks are forgotten.
- Controlling Risk by Effectively Managing it. Operating and managing properties comes with heavy risk which contributes to the dilemmas property management teams face each day. CRE software enables teams to ensure they are collecting the right information related to risk management that is needed to assure compliance and document actions in the event of future litigation. Proactively mitigating this will allow property managers to have a pulse on the safety of their property and have a better handle on the potential chaos that risks can cause if they aren’t tended to carefully and watched closely.
With the many changes in technology that we see today, it may seem like a lot to keep up with. But by carefully selecting CRE software and putting the greatest effort into effectively adopting it, you can collect critical information, collaborate in real-time with employees and vendors, and ultimately understand the performance of an entire building more easily than ever before. In short, you can shift from reactive management to proactively improving your business, gaining control over the chaos that many times can inundate property management teams.
To learn more about how property managers are using technology to enable their organizations to advance ahead of their peers, read this insightful eBook. It also provides three additional ways you can use tech to combat the property management chaos with CRE software.
Building Engines has helped hundreds of CRE organizations gain control of the chaos that they once experienced. Find out how we can help you with a brief demo.