When it comes to technology choices for Commercial Real Estate (CRE) property management, knowing which system (or combination of systems) you need to run your business can get confusing. Here at Building Engines we're often asked what the differences are between the various types of tenant service or maintenance systems and which are the right choices for specific situations. To help answer those questions, we break them down for you below based on functionality and applicability.
There are 24 hours in a day, five business days in a week, and 52 weeks in a year. What percentage of this time do you spend reactively putting out property management fires? Are you able to focus on strategic tasks with the balance of your time? That is, if there even is time left over in your day.
The trick to combatting some of the chaos you may be experiencing and getting more time back in your day is effectively utilizing commercial real estate technology. Using CRE tech to its fullest potential will enable you to proactively address tasks, prioritize accordingly, and run property operations more efficiently.
Here are a few ways the best CRE firms use technology to create more time for themselves and their teams:
Prioritize the Most Critical Operations Tasks
Organizing tasks by priority will allow you and your team to focus on what is most important and complete those assignments first. Then you can focus on less critical tasks and other responsibilities you have. To understand what to prioritize, follow time management expert, Stephen Covey’s recommendation of putting tasks into one of these four buckets; important and urgent, important but not urgent, urgent but not important, and not urgent and not important. The Urgent-Important Matrix can help you determine what is mission critical and what are just potential distractions.
Eliminate Unnecessary Distractions for Your Team
CRE technology helps eliminate unnecessary distractions by only displaying the information that is pertinent to you and your team. For example, an engineer only needs to see the work orders and preventive maintenance tasks assigned to them. Because you’ve already prioritized these assignments, the software you use should automatically display the most critical work orders and PMs first by level of importance and deadline. This will help your team eliminate distractions and pay attention what matters most.
Empower and Make it Easier for Tenants to Solve Problems
One of the largest areas that property managers spend their time, and rightfully so, is handling tenant requests or issues. Provide the options for your tenants to submit requests to your team from their mobile devices and through the tools they use every day like text messaging. This will untether you and your property management team from their desks as well as free up some time because it will no longer be necessary to constantly be answering your phone or assigning work orders through email.
Standardize the Use of Technologies Across Properties
Rolling out technology with the same features across your buildings helps to ease the challenges of managing multiple properties or spaces. Now all of your maintenance technicians are using the same platform to track equipment, make sure that the equipment is taken care of on a preventative basis, and ensure all important information is tracked in one place. The same goes for your property management team. Everything they need to work on is standardized across each property making your team’s jobs more efficient.
In order to save time, you must focus on unifying building operations through efficient ways using commercial real estate technology. In a recent guide, we’ve compiled five ways our top performing CRE clients create more time for themselves and their teams. This helpful resource includes a checklist that you can use to look for additional time savings at your property or across your portfolio.
Building Engines has saved hundreds of CRE organizations thousands of hours. How much time can we save you? Find out with a brief demo.