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Improving tenant experience using a CRE management OS.

Garima Bharadwaj
Garima Bharadwaj

12th April 2022

The concept of tenant experience or TeX in commercial offices depends on multiple factors. The objective of monitoring the experience, based on the provision of certain facilities other than an office desk and chair, is to promote a sense of differentiation.

Before 2020, the availability of a gym, game room, or a coffee corner was enough to make the tenants feel valued. However, the COVID-19 pandemic has expanded the scope of tenant experience. Subsequently, the offices should convey a feeling of confidence along with comfort for the tenants to return. It should also promote flexibility and effective communication regarding tenant safety.

Consequently, the requirement for a solution that delivers intelligent insights based on real-time building data can be quite beneficial. However, before we explain how automated insights and dashboards can improve the tenant’s experience, let’s find out what the occupants expect from their buildings.

Tenant Expectations – Pre and Post Pandemic

Besides a comfortable and efficient space, the tenants usually expect certain facilities in their offices. The amenities may include parking spots, gym, and cafeteria facilities, conference rooms that could be reserved for important meetings, food services, shared spaces, and more. Certain commercial real estate properties are also promoting special features such as daycare or creche facilities for people with kids.

As the work-from-home scenario has further changed people’s expectations, modifications to the existing features or introducing newer amenities might be required. Remote collaboration was quite effective during the pandemic, and many companies might adopt a mix of working at the office and home.

This hybrid model might be a disruption in creating a consistent tenant experience. Instead of a gym or cafeteria, the focus would be more on internet speed or other connectivity options for the tenants now. The real estate property operators should strategize improvements in tenant experience considering these factors.

Handling these issues is easier said than done. Identifying the problems of every tenant and solving them immediately requires a robust ecosystem. It should monitor various aspects like the floor occupancy rate, schedules of gym and cafeteria, the status of HVAC systems, health of building and more. And all of these should be done without disturbing the tenants while working.

In short, the onus is on building owners and leasers to facilitate a robust CRE management strategy to improve the tenant experience.

How automation can help improve tenant expectations

The manual method of knowing tenants’ issues was through feedback and online reviews. When a problem occurred, the tenants were supposed to raise work orders or inform the floor supervisors to get it sorted. Therefore, the solutions were more reactive and often hampered expectations, especially if they were not taken care of soon.

An automated insights dashboard solves the issue by tracking the probable causes of concerns and taking care of them even before they occur. Further, even if some complaints are raised, the dashboard helps with faster communication with the on-ground team, resulting in quicker resolution. The tenants can be kept in the loop through the automatic updates and notification settings.

Automated insights also allow tenants to check the availability of a conference room or the status of the shared amenities without leaving their seats or asking anyone. This makes them more comfortable due to the convenience of availing themselves of the facilities.

A solution like Know Your Building™ brings all of these facilities under one roof, where information can be viewed at a single glance. Further, it allows you to improve tenant experience due to the transparency and flexibility of the system.

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Conclusion

The tenant expectations are constantly evolving, and exceeding the expectations is the only way for the commercial real estate sector to maintain its competitiveness. The operators must prioritize the tenant's values and needs and make provisions for managing them. However, keeping an agile yet sustainable model is necessary for the owners to stay relevant in this sector. Automated insights help operators realize the tenant issues faster and resolve them efficiently. It helps make the building operations seamless and improve tenant experience according to their preferences.


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