Building Engines today launched “Tenant Satisfaction” – a next generation analytical tool extension of its Operations Performance Management (OPM) program. This outreach component extends Building Engines’ comprehensive building Operations Performance Management value model, timing service provision with a tenant service quality assessment to assure accuracy and enhance responsiveness.
“The tenant is the ultimate client in our market,” said David Osborn, CEO of Building Engines. “Tenant happiness is the spine of a building’s value posture. We know that broad, highly integrated systems contribute to comprehensive building maintenance and service, but a truly effective system must include a thoughtful, timely assessment of the client’s satisfaction with service delivery.” Osborn said.
Tenant happiness is the spine of a building’s value posture.-David Osborn, CEO of Building Engines
Each year real estate management companies invest thousands of dollars trying to measure tenant satisfaction – satisfaction with the building environment and its management services. Independent companies are built around the concept. “High quality service delivery is the key indicator for tenant satisfaction,” commented Chuck Fendrich, former EVP of Property Management and Leasing at Lillibridge. “Building Engines gives us enhanced visibility and metrics for building services and enables us to jump on problems and get them fixed quickly.”
Tenant satisfaction is a core criterion within the BOMA 360 Performance Program, sponsored by BOMA International, which evaluates buildings against industry best practices in six major areas. It is the most significant and impactful performance indicator within any commercial office building, critical to property and portfolio return. Yet, tenant satisfaction, as measured through tenant surveys, is often captured in a vacuum – during a point in time unrelated to building service provision so the tenant has no real-time reference to the questions being asked.
The key is to capture satisfaction indicators at the point in time when it matters most, enabling the management team to quickly adjust its activities and enhance responsiveness to optimize understanding and maximize satisfaction. “We mesh service provision with a satisfaction assessment,” said Osborn, “connecting the subject matter to the satisfaction score to ensure high relevance and accuracy.”
By integrating professional performance management systems with proactive tenant outreach, Building Engines completes the nexus between a management team’s performance and how that performance is perceived by the tenant client — all in a manner that is easy to access and uniquely informative to the most significant asset in a portfolio – the tenant.