In this era of today’s corporate real estate management, operational excellence is critical in defining operational corporate tenant processes. Revenue-driving real estate management best practices become consistent, and often unvarying ways to get the job done. These ideas can mean many things to many corporate tenants with the various activities and limited processes in perspective such as accounting, fiscal reporting, resource management, and variance analysis that fall under the overall management of the company.
Consider a revenue-driving management excellence framework offering a process through which you can achieve real estate management superiority by connecting effective property management strategy to success. Real estate management processes, like location selection, among other certain aspects, are fundamental to site performance, especially in retail and industrial spaces. And your real estate management techniques will drive excellence when you recognize that, with a feedback system (from employees, customers, vendors, and utilities providers) you will be able to determine where circumstances are less than desirable, and how to move accordingly.
Key Metrics
Corporate strategies prevail and perish based on how well the corporate real estate management team execute. It takes more than just the oversight of certain processes. Revenue-driving real estate management means that corporate tenants maintain a competitive edge by monitoring both in-house expenses and current market rates.
The key strategy is to adopt these “best practice” metrics as part of an overall look at where improvements can be made. Find how sites can more effectively manage utilities, keep a better grip on budget analysis, and implement a system that limits complexity with more globally applicable solutions. The bottom-line, revenue-driven corporate real estate management processes should not be viewed in isolation. Corporate tenants should be able to apply a methodical approach to management activities to accommodate both professional and operational effectiveness. With these goals in mind, per site costs are sure to decrease, leading to broader savings on your corporate real estate portfolio – a portfolio that will at the same time generate more revenue in its optimal locations and more effective strategies.