When it comes to property management, the shopping list of requirements for occupiers and landlords and their expectations is growing exponentially – it is no longer limited to the physical (bricks and mortar) anymore. The provision of amenities, and increasingly the level of service that goes with a managed property, is more prevalent than ever before.

One of the biggest changes is a much more customer-focussed approach in terms of improved communication, engagement, fostering community, curating unique enjoyable experiences, and providing the healthy/sustainable environments in which to deliver them.

It is important that innovation and technology are integrated into the business to help shape the management services. Integral to all of the above is a real focus on delivering the basics correctly. Without the solid foundations of property management (health, safety, compliance, security, cleanliness, service charge management etc) none of the elements increasingly important to augmenting and providing a five star management service, such as client lounges and concierges in prime assets, can be built.

Once the fundamentals are in place, landlords and occupiers will then be in a position to introduce new service lines and amenities to work spaces, and reap the positive benefits of them.

ESG

Coming out of pandemic, people have become more conscious about their own health and the health of their neighbours and colleagues. As a result, there’s been an improved focus on wellbeing in buildings, which has improved general standards.

More ESG conscious office developments are coming to fruition that consider the impact of the environment on the health and wellbeing of the individuals occupying a building. The introduction of Fitwel and WELL assessments are becoming more common place, complimenting BREEAM and EPC audits.

Managing agents are therefore having to deliver solutions for measuring, analysing and reporting on these elements as occupiers, landlords and agents become more collaborative in their approach to delivering ESG initiatives and helping occupiers meet their CSR requirements. To meet the latter, generally, across the board we are seeing much more engagement with our customers and cooperation on the sharing of information in order to improve the office environment, benefitting employees and improving their productivity.

Technology and data

There’s been a shift towards technology with new data platforms and enhanced benchmarking. There is now a greater focus on the collection, analysis and reporting on data in the sector when managing buildings. Working with occupiers and landlords to gather information and make informed data-led decisions is particularly important when delivering a common goal - for example: working towards the UK’s net zero ambitions.

In all of this, it is really important that property management does not become a ‘cookie cutter’ management service, and continues to recognise the unique features and qualities of each individual asset. Each property is different, is at a different stage of its lifecycle, may have elements of public amenity or enjoy the benefits of large amenity spaces, or cater for a different occupier mix, for example. All elements must be considered and a bespoke management plan catering for the occupier and the owner has to be developed, providing a unique, individual management approach, which is complementary of the goals and desires of all concerned.

Collaboration, communication, engagement, understanding and cooperation are key to the future growth of property management.

Further information

Contact Katrina MacKay or Dan Jaggar

Revolutions in the workplace heighten the role of the property manager