When you think of property management, what comes to mind?
For most, it’s a general sense of upkeep. But for today’s investors and occupiers working diligently to meet the evolving needs of employees, there’s a desire for something more: an elevated experience that strengthens an asset’s value and appeal.
This heightened expectation for property management didn’t happen overnight. Instead, it’s a response to a shift taking place within the workplace as employees, searching for a deeper sense of meaning and fulfillment, express their need for unique experiences designed to enrich their personal and professional lives.
While remote work opportunities have provided employees with some measure of work-life balance, social capital—fueled by in-person networks, relationships, and shared norms—are what’s optimizing employee experiences and, in turn, business performance, generating a renewed interest around all that the office is and has the potential to be.
The office, redefined, requires the support of a greater ecosystem built to enhance daily interactions through a distinguished level of service and connection.
Property management experiences are often reactive, with ongoing lists of repairs and concerns likened to a never-ending game of cat and mouse. This reactive approach, widely accepted as the industry norm, results in sub-par building conditions and sub-par service, and does little to generate interest around renewals or “in-person” work.
With occupiers drawn to assets that align with their employee-centric mission, the standard approach to property management isn’t equipped to address current occupier concerns or investor goals. As such, it is quickly becoming obsolete.
To meet evolving needs, property management must transform into a purpose-built and service-driven platform to deliver superior care at every touch point. This requires immense skill and attention to detail, with an intense focus surrounding:
- Immersive experiences that transcend the daily work grind
- Transparency, communication, and accountability
- Consistent, accessible, and forward-thinking service
- Measured processes that capture improvements and optimize performance
- A dedicated, high-caliber team committed to the asset’s vision
Property management can no longer be the passive service many expect, but an intentional platform that fortifies brands, drives retention, and maximizes value.
As we looked to elevate our own property management platform here at Stream, we knew that the exemplary level of service we had already been providing our clients would have to be elevated further, with excellence serving as a mere baseline. So, we advanced, partnering with a world-renowned hospitality provider to ensure hospitality-level service and tailored offerings permeated every detail of our offering.
The results to date have been outstanding, not just for investors and occupiers who are experiencing unsurpassed service, but for our own teams, who feel as if they are positively impacting lives, one meaningful interaction at a time.
Like the time a client reached out to inform us about their property manager who went above and beyond to connect with an official at the permit office, proactively advocating on the owner’s behalf to ensure the appropriate permit was received for a tenant’s construction project. This saved the owner significant time and money, allowing them to get the tenant into their newly expanded space on time!
Or the time a tenant, who happens to be a foreign consulate, was having a last-minute event at the property due to a visit by the Prime Minister. Our property manager immediately reprioritized his schedule to ensure the event received the appropriate support and attention needed, resulting in a total success. Needless to say, the consulate, and building ownership, were most pleased.
Legendary service, legendary results.
The distinctive experiences we are providing are anything but ordinary. They are legendary. Hence, the development of Legendary CX, our property management training and execution platform. It’s our service standard, and expectation—ingrained in our DNA and woven in the fabric of our delivery model, all with the goal of providing greater tenant retention for assets in our care.
From hiring and training the right people for the right roles, to cultivating a hospitality-infused work environment, we operate through the lens of both an owner and a tenant, to ensure our clients receive the very best.
As the world of commercial real estate continues to evolve, property management must be proactive, engaged, and fluid to produce the experiences employees seek, the growth occupiers need, and the solid returns investors expect. Why settle for anything less?
Dennis Skelly is Stream’s National Managing Director of Property Management. With more than 20 years of CRE experience, Dennis leads property management and project accounting teams across 200 million square feet, amplifying value through legendary service for new and existing clients.