Measure What Matters.

The stronger the relationship between a landlord/property manager and their tenants, the more profitable the lease will tend to be for both parties. A solid customer satisfaction survey helps the landlord optimize the resources invested into their products and services (and ultimately the tenants), to increase long term profitability. Thus you need to ask the right questions, in the right order, analyze the responses properly and, finally, interpret the results in the context of the landlord or manager that's being measured. Do this, and you get both operational and strategic insights that can help every level of your organization perform better.

Intangible assets is an umbrella term which in the context of real estate include customers, end users, employees and brand. There is a lot of interaction between these four. For instance: The stronger general brand a landlord has, the easier it will be to recruit new employees and the more loyal the existing team will tend to be. Or: The more satisfied the people working for one of your office tenants (the end users) are with their premises and their building, the more satisfied the tenant company will tend to be with their landlord and their property managers. You should therefore have an integrated intangible asset strategy, to ensure you correctly pull the appropriate primary levers that ultimately ensures you reach your long term corporate goals.

Simply put, brand is nothing more than what and how strongly people think about something or someone. Customer, user and employee satisfaction are all, strictly speaking, brand. They are measures of how well each of them think of their landlord, their building and their employer. However, brand is also more. A company with strong brands is well thought of by others as well, such as competitors, owners, media, politicians, potential new tenants, partners, vendors, neighbors and others. Real estate brand management is understanding how all the identities a landlord is using to communicate itself and its products to all these audiences and curating them to fit corporate strategy.

For commercial landlords, customers refer to the tenant companies, while users refer to all the employees of these tenants (for residential, customers and users are effectively the same thing). As real estate leasing becomes an ever more complicated delivery, going from mere spaces to a long list of features and services (gyms, EV-charging stations, in-house restaurants, concierge services and so on) the preferences and opinions of those using them equally become more important. The core and summarizing metric is user satisfaction.

Working for a landlord or property management company is not the same as working for Spotify, Lufthansa or Novo Nordisk. Every industry has its own characteristics, culture and rhythm. To properly understand and curate your organization, you need to measure and analyze the team as a real estate team, not as generic employees. NEMEET Employee Index is specially designed for real estate professionals!