Case Study
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October 26, 2021

Real Estate Investment Firm and Withstanding Growth

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Executive Management asked Elliott Davis to help answer, "What is the best way to address challenges we are experiencing due to tremendous growth in recent years?"

Context

  • A property management group responsible for several million square feet of space
  • Portfolio is mix of office space and shopping centers, managed by team of property managers
  • Experienced quick growth due to increase of property development, which in turn caused numerous growing pains for business, including:
    Little long-term strategy planning
    Processes have been organically implemented, but not standardized
    Inconsistencies in management across properties and tenants

Our Approach

Phase 1: Market Insights, Baseline and Quick Wins

  • Belief audits of management team: Pain points, tenant complaints, time allocation
  • Tenant interviews to understand current strengths and weaknesses
  • Leverage Elliott Davis expertise and market interviews to benchmark against industry
  • Identify opportunities for quick wins to improve organizational efficiency, E.g., lease standardization

Phase 2: Structure and strategy development

  • Hold workshop to review tenant feedback, current state operations, industry best practices
  • Define goals for future state property management
  • Set operating structure, team, tenant experience
  • Determine targets / KPIs for property management
  • Conduct gap and capability analysis to define next steps
  • Develop high level strategy / transformation roadmap

Customer Impact

  • Provided key recommendations on strategic direction to improve team
  • Focused on improving key operations
  • Addressed four key areas:
    Team structure
    Property maintenance
    Tenant interaction
    Operations

We Can Help

For more information on this and other topics, contact a member of our team.

The information provided in this communication is of a general nature and should not be considered professional advice. You should not act upon the information provided without obtaining specific professional advice. The information above is subject to change.

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