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Commercial Property Management
What to Expect in 2016?7 Trends & Tendencies.
Time is passing imperceptibly.Every year brings with it something
new, something different…
THE CHALLENGES ARE JUST AROUND THE
CORNER
It is important to know which direction to take in order not to regret your decisions...
So, it‘s time to find out what you need
to prepare for!
1. Steady commercial-property industry growth worldwide
What about it?
Foreign investors are looking for long-term partnerships with knowledge and
experience in local markets
Rising foreign investments in commercial real estate are providing additional
funding sources either for new properties or current estate development
What does it mean for the property manager?
tenants to deal with
difficult manageme
nt processes
lease units to control
spaces to maintain
2. Growing significance of the suburbs
What about it?Suburban areas are becoming more like urban centers.
The real-estate market is replicating the attractive urban components in suburbia.
What does it mean for the property management industry?
More commercial properties like shopping malls and office buildings, or a combination of both, will
be set up in suburban areas.
3. Changing demand for office space
During the last 10 years, office space per employee has decreased by 25% in the USA and 35% in the UK.
What is changing?
traditional workday has
changed
a large number of employees are often working
from home or at a distance
growing number of startups, with totally different way of working
the number of open offices is
increasing
With the inspiration coming from the Google Offices, many companies are seeking to establish creative and robust offices for their own workers, so you as property
manager should let your tenants redecorate the offices...
What does it mean for a property manager?
Businesses shifting to smaller office spaces, meaning that properties should reorganize building plans in order to split the space into more but smaller offices to meet
the demand
4. Changing demand for retail space
Traditional retailing is losing sales to online retailing…
Shopping centers are changing their purpose and becoming more oriented towards social
phenomena than simply towards shopping.
How it will affect property managers’ job?
So as the office buildings managers, shopping centers’ operators are going to need to reorganize the building
layout and make more but smaller stores.
In order to keep shopping malls alive, managers need to think of the shopping center more like a social,
entertainment, and leisure environment.
5. Changing demand for industrial space
What happened?
When online shopping started to grow expansionally, the demand for industrial
space jumped immediately.
6. Internet and technology possibilities in property management.
What about it?Today’s customers are different:
They look for the
information online
They expect to find an answer in
your webpage
They are using various
appsThey are more
educated
They expect to see the properties
online
Not only customer side has evolved…Technologies for commercial-property management are evolving every day with functions helping to manage properties more easily than we probably ever thought
possible.
How to react?Learn more about new technologies, apps like Zillow, Vert, Sitegeist, Panorama 360, 360
Degree Camera, Sphere – 360º. Also,
property management systems like
Soft4RealEstate and more...!
Be at the places that customers are searching for information!
7. Location
People like to take breaks, relax, play and have fun, and it is critical that they can do this close to
the workplace.
You can’t choose the location yourself, right. But…
You can emphasize the best things about your location, whether it is in the city center, or close to
great restaurants, shops or good public transportation.
So… in 2016
Vacancies will be decreasing due to the demand for more but
smaller properties, therefore workload will be
increasing – more contracts, terms, invoicing,
tracking and analysing, also more maintenance
and work orders…
In order to deal with all the efficiently your property management processes need to
be optimized!
Technology is one of many tools that organizations use to help solve problems.
Good software will not bring you new tenants or change the location of your property; but technologies can still
help to avoid making bad decisions and foresee issues or problems before they occur.
Sophisticated software systems as Soft4RealEstate can help property managers do their job more efficiently.
With systems such as SOFT4RealEstate, you can maximize occupancy levels and manage your properties and tenants effectively -even having smaller rent spaces and growing number of tenants which is equal to more daily routines. Fast calculation and distribution of rent
and CAM fees, contract templates ensuring more efficient handling of new tenants, visual tools of property
availability, all history in one place, advanced billing options – all modern features are here to help you deal
with the property management challenges.
Meet the year of 2016 armed and prepared for the challenges to come
Interested in more details about the trends?
Read the entire article on What to Expect in Commercial Property Management industry in 2016.
for 2016?
