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.
