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Jake Smith, director of asset services, Transwestern<\/p><\/div>\n
\u201cThis integration can help drive internal costs down and reduce the costs to our buildings,\u201d noted Jake Smith, vice president & director of operations for asset services at Transwestern<\/strong>. But he warns that seamless integration of vendor technologies requires comprehensive cybersecurity measures to guard against breaches.<\/p>\n During the post-pandemic return to office, Transwestern\u2019s vendor decisions have been informed by a hospitality approach to amenities and tenant engagement. Technology and data analytics provide an understanding of real-time occupancy and the amenities that are being used on a given day. \u201cWe are gaining critical insights into how tenants are interacting with the building\u2014like reserving a training center or ordering food\u2014so that we can better offer the services that are needed,\u201d Smith noted.<\/p>\n Building management should have an open line of communication with vendors\u2014and tenants. There is a basic expectation for vendors to be reliable and trustworthy. \u201cIf something is not right, and you find out early, a minor issue does not have to become a big issue later,\u201d remarked Zair Cheema, clinical assistant professor at New York University\u2019s Schack Institute of Real Estate<\/strong>. That\u2019s also why it\u2019s always a good idea to invite tenants to share their feedback.<\/p>\n Since COVID-19, office building occupants have become more aware of guidelines for indoor air quality, ideal temperatures and water management. Cheema points out that sensors can help vendors and property management collect data about performance in a specific part of a building or for the entire property. \u201cThen you can use data points to do surveys or talk to occupants,\u201d he added. Some office campuses have small devices that post the cleaning and maintenance schedule with a keypad for building occupants to give feedback about a vendor\u2019s performance.<\/p>\n Integrating property management in the early stages of designing a new building or retrofitting a building or taking over a new asset and reclassifying it is a must, according to Cheema. \u201cWhatever we’re doing in the market, having the operations team part of the initial stages as a stakeholder is very important. We are designing with energy efficiency, water conservation and indoor air quality in mind.\u201d Vendors should also understand the building\u2019s design and function, he added.<\/p>\n Ryan Room, COO, JLL property management<\/p><\/div>\n Building strong vendor relationships over time can also impact pricing. JLL\u2019s property management team is adding value by scaling with their preferred service providers to capture better pricing while simultaneously increasing accountability around service delivery and the supply chain, reported Ryan Room, COO, JLL<\/strong> Property Management.<\/p>\n To facilitate vendor selection and pricing, Colliers maintains an intranet page that enables collaboration across the company. \u201cIt has forms and processes and procedures\u2014our best practices are all lined up so that all our teams are working through the same format to manage client buildings in a consistent manner,\u201d reported Tim Allison, executive vice president for Colliers<\/strong>\u2019 U.S. real estate management services.<\/p>\n Providing a highly detailed request for proposals and a scope of work with clear performance metrics helps ensure apples-to-apples pricing on bids. The going rates will vary by market and the lowest price may not always offer the best value. As Allison puts it, \u201cYou could be getting more services or a better-defined scope from some vendors than others.\u201d<\/p>\n Another way to ensure good value is to hold pre-bid meetings with vendors, walk through the asset and present clear expectations upfront about goals and performance, Allison advises. \u201cIt allows you to get the best pricing and the best value for the work,\u201d he said. \u201cBut being responsive and very thorough also goes a long way with our clients.\u201d Typically Colliers has one-year contracts, but there\u2019s always a 30-day out clause in case an insurmountable performance issue emerges early.<\/p>\n Looking ahead to the future of property management and vendor relationships, Allison commented, \u201cAnything we can do to reduce operating expenses\u2014that\u2019s the driver.\u201d Energy is a huge component of costs. Colliers partners with companies that can analyze power consumption by every piece of equipment in the building 24\/7, even when it\u2019s unoccupied, and notify management about unseen problems that need to be fixed.<\/p>\n Heather Battaglia, office portfolio manager, Hiffman National<\/p><\/div>\n According to Heather Battaglia, office portfolio manager at Hiffman National<\/strong>, every job or service is an opportunity to review vendor performance. Hiffman National\u2019s management operations platform provides a vendor performance survey to each member of the property management team. The survey allows them to relay feedback so leadership can update Hiffman\u2019s vetted vendor list as necessary.<\/p>\n \u201cWe absolutely survey tenants as well to make sure that vendors are doing a great job,\u201d she adds. Tenants may have observed something that the management team was unaware of or have interacted with the vendor. Another benefit of the survey is letting tenants know that their voices and opinions are important to the management team.<\/p>\n \u201cOur tenants are also able to formally provide this feedback through Hiffman National\u2019s annual tenant satisfaction survey,\u201d said Battaglia. \u201cHowever, we find this feedback is often received through routine proactive check-ins from our property managers.\u201d<\/p>\n Quality workers are still in high demand, and vendors often struggle to hire and retain them. Additionally, many owners are restarting capital projects they put on hold during COVID-19, and meeting the pent-up demand is proving to be challenging for vendors.<\/p>\n \u201cIt\u2019s been interesting to see how AI is starting to shape what innovations are possible for both vendors and managers,\u201d Battaglia observes. Hiffman National expects that advancements in the tools will help increase productivity and reduce spending along with providing real-time analysis and predictive modeling of building systems. \u201cOur management operations team is continuously vetting new technologies and processes that will enable us to work seamlessly with vendors that are able to embrace new technologies.\u201d<\/p>\nIs the price right?<\/h2>\n
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Hearing tenant feedback<\/h2>\n
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Sustainable supply chain<\/h2>\n