ARE YOU IN CONTROL OF YOUR PROPERTY MANAGEMENT?
Answer these six questions to see where you stand.
It is increasingly critical to have a robust property management strategy. Your buildings must do more than retain their value – they must support your core business and comply with legal requirements. In addition, property managers are tasked with staying within budget and reporting accurate numbers for crucial and expensive decisions. So transparency in your portfolio is vital to ensure that you are in control. Answer these six simple questions to find out whether you are truly in control of your most expensive asset, your property.
Do you have all basic property data available?
Yes, we can pull all basic property data from one place.
Yes, we can pull all basic property data from one place.
Yes, the data is available, but we have to pull it from multiple spreadsheets and locations.
Yes, the data is available, but we have to pull it from multiple spreadsheets and locations.
No, we do not have all basic property data available.
No, we do not have all basic property data available.
No, our service provider has that data.
No, our service provider has that data.
What information do you have about the utilisation of your property?
We know exactly the size, quality, and space utilisation of our property.
We know exactly the size, quality, and space utilisation of our property.
We do not have information about current utilisation or how we'll use it in the future.
We do not have information about current utilisation or how we'll use it in the future.
We calculate property utilisation information as needed.
We calculate property utilisation information as needed.
We do not need that information.
We do not need that information.
How do you compare property performance across your portfolio?
We benchmark performance based on standards like BOMA or OSCRE.
We benchmark performance based on standards like BOMA or OSCRE.
We compare property costs only.
We compare property costs only.
We want to compare, but lack standards and good data.
We want to compare, but lack standards and good data.
For us, it's not relevant to compare performance.
For us, it's not relevant to compare performance.
How do you manage leases, expiry, payments and income?
We have property management software that integrates with our finance system to handle leases, expiry, payments and income.
We have property management software that integrates with our finance system to handle leases, expiry, payments and income.
We manage our leases across multiple IT systems.
We manage our leases across multiple IT systems.
We have no or very few contracts and manage them manually.
We have no or very few contracts and manage them manually.
We have no standardised process for lease management.
We have no standardised process for lease management.
How do changes to FASB or IASB affect your lease administration and reporting?
No effect as we have no capital leases.
No effect as we have no capital leases.
It will affect our lease administration, but we're not sure how yet.
It will affect our lease administration, but we're not sure how yet.
We are prepared and have implemented changes already.
We are prepared and have implemented changes already.
What!? There were changes to FASB and IASB?
What!? There were changes to FASB and IASB?
How do you align your property portfolio with changing business needs?
Our organisation is static so we do not need specific alignment.
Our organisation is static so we do not need specific alignment.
We are aligned now, but lack insight into future business needs that affect the property portfolio.
We are aligned now, but lack insight into future business needs that affect the property portfolio.
We have a strategic portfolio plan based on our core business strategy.
We have a strategic portfolio plan based on our core business strategy.
First we need transparency in our existing portfolio.
First we need transparency in our existing portfolio.
Get your results
You will receive your results online and extra tips via email.