Ask the Expert 3Q13: Three Ways Property Management Adds Value to Tenants

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ASK THE EXPERT is a Q&A with TRANSWESTERN experts and leaders. In this edition, Rob Bagguley, Transwestern’s chief innovation officer, visits with Vicki Hollon, senior vice president in the firm’s Innovation & Quality Assurance group. Hollon explains how high-quality property management adds value to tenants in commercial buildings.

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Ask the Expert 3Q13: Three Ways Property Management Adds Value to Tenants

  1. 1. Ask the Expert3rd Quarter 2013 Three Ways Property Management Adds Value to Tenants www.transwestern.net
  2. 2. In this edition: ROBERT BAGGULEY Robert is currently Transwestern's chief innovation officer. In this role, he brings a strategic approach that utilizes both technology and a company-wide collaborative forum to develop internal and innovative client business solutions. 312.881.7001 robert.bagguley@transwestern.net VICKI HOLLON As part of the Innovation and Quality Assurance Group, Vicki is focused on ensuring that Transwestern professionals are equipped to deliver consistent, market-leading performance for our clients’ assets across the country. 713.272.1283 vicki.hollon@transwestern.net
  3. 3. The actions of a property management team can determine a tenant’s overall satisfaction at a commercial facility. How do you see property management affecting a tenant’s decision to remain at a property? Bagguley:
  4. 4. Hollon: ƒƒ The property management team’s goal should be to exceed tenant expectations while meeting all their needs. ƒƒ Tenants want employees to be comfortable in order to be productive. ƒƒ Workplace should be clean, safe, healthy and functional. ƒƒ Transwestern property management teams are trained with an owner mentality, allowing tenants to become beneficiaries of our years of experience. How does property management affect tenant retention? www.transwestern.net
  5. 5. Some property management teams emphasize sustainability in office buildings more than others. How do tenants benefit from the implementation of sustainable features at their buildings? Bagguley:
  6. 6. Hollon: ƒƒ Today’s tenants want workplaces to be as energy efficient as possible. ƒƒ Reduced energy consumption equals reduced utility costs. ƒƒ All other factors being equal, a building’s sustainability track record can be the deciding factor in which location a tenant ultimately selects to lease. ƒƒ Corporate sustainability has even become a recruiting tool. ƒƒ Sustainability has a positive impact on the triple bottom line � people, profit and the plant. How do tenants benefit from sustainable features? www.transwestern.net
  7. 7. Hollon, cont.: ƒƒ Building owners make the final decision on large sustainable improvements, but it’s the job of the property management team to lead energy efficiency efforts. ƒƒ First order of business is to identify low- and no-cost improvements that can be immediately implemented. ƒƒ Transwestern hosts Earth Day events, but efforts to educate tenants is a year-round endeavor. ƒƒ Tenants have appreciated reports on landfill diversion, number of trees saved or reduction of carbon emissions as a result of their efforts and those of building ownership. How do tenants benefit from sustainable features? www.transwestern.net
  8. 8. Hollon, cont.: ƒƒ Benchmarking properties in the Environmental Protection Agency’s (EPA) ENERGY STAR® program allows tenants to see how their building compares to others. ƒƒ Transwestern has a customized rating system that measures property management, engineering and sustainability. ƒƒ The Good, Better...Best Sustainability Standard Practices rating system measures both participation and improvement at Transwestern-managed properties. How do tenants benefit from sustainable features? www.transwestern.net
  9. 9. A property management team’s strategies and skills can have a significant impact on reducing a building’s operating expenses. How do tenants benefit from lower operating costs for the building owner? Bagguley:
  10. 10. Hollon: ƒƒ It is not simply the job of the property management team to operate a building; they must operate it well. ƒƒ Reduced operating expenses for the entire building translate to lower utility bills for tenants. ƒƒ Well-trained managers and engineers can reduce energy and utility costs through proper equipment maintenance and diligent monitoring. ƒƒ Transwestern’s national relationship with service providers enable us to take advantage of price breaks and volume discounts. How do tenants benefit from lower building operating costs? www.transwestern.net
  11. 11. Ask the Expert3rd Quarter 2013 To view this article in its entirety, click here. www.transwestern.net Take a look at our agency edition of Ask the Expert here.

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