How does your CRE portfolio impact business performance?
The best way to understand how your corporate real estate (CRE) portfolio is performing is to report and analyze the right metrics.
Real-time insight into the portfolio metrics that matter can help you identify, quantify, and enhance your real estate portfolio’s contribution to overall performance.
These four real-time metrics will help you track the true impacts of your CRE portfolio on your business.
1. Costs
Tracking CRE costs in real time helps you identify trends and adjust to changing needs as soon as they arise. You can view granular and holistic pictures of how your organization is performing at any moment in time to determine whether goals are being met, identify where you’re overspending, or see where extra funds may be available.
This information can be especially valuable when you have a short window of opportunity to make important decisions. With real-time financial insights, you have the data you need to back up your choices—even when they’re made on the fly.
2. Workplace density headcount
Understanding how many people can safely, comfortably, and efficiently work in a space can help you determine whether available square footage aligns with the number of current employees and predict how much growth you can accommodate in the future.
This data can also help you pinpoint which properties are over-utilized (too many people working in the space), which can negatively impact employee satisfaction and productivity. It can identify which properties may be under-utilized as well, leading to high operating costs and inefficient use of CRE resources.
3. Lease events
Signings, renewals, terminations, rate increases: All these events require attention and action, but it’s a lot of information to keep track of. Real-time insight into lease events helps you see which important tasks are on the horizon—and which are most important in terms of priority and completion date.
Which critical lease events are coming up? How many leases are you currently managing? Which leases are up for renewal in the next six months? The only way to confidently answer these questions is with real-time data.
4. Transactions
Letting a lease expire and becoming a holdover tenant can lead to unanticipated costs and eliminates the ability to negotiate terms or request repairs or upgrades. Gaining real-time insight into lease transactions can help you prepare to proactively manage leases instead of having to quickly react when an unanticipated lease event occurs.
With this level of visibility into upcoming lease expirations, you can preemptively plan your next steps: lease termination, renewal, etc. This information can also help you predict and budget for future costs.
Proactively manage your entire portfolio
JLL Technologies combines its strong real estate understanding, technical business intelligence, and analytical skills to create unique solutions that provide you with insights to solve your CRE challenges.
We’ll help you create a single view of truth across systems, partners, and processes, so you can maximize your portfolio’s performance—and its business contribution.
Ready to talk to a real estate analytics expert? Contact us.