Commercial Property Management Transition Checklist

So what’s it going to take to get your commercial property management company to outsource ready?  The truth is, very little when you work with PMVA! Begin your outsourcing journey by downloading PMVA’s Commercial Property Management Transition Checklist below:

1. Preparing for Change

Many companies experience a culture shock when moving toward an outsourced model even though every step has been carefully mapped out and communicated by PMVA. It’s important to prepare everyone affected by the transition so expectations are set clearly and mindsets shift accordingly. This includes both indirect staffs such as support team members, finance staff and executives who may not be directly impacted but whose departments will change. Everyone must be on board with the fact that nothing stays status quo for long in commercial real estate.

2. Get the Right Team in Place

Changing your local team’s mindset is important when you begin to outsource. It’s important to have all the right pieces of the puzzle in place before play begins. Outsourcing is a partnership and whilst PMVA will do a lot of the heavy lifting of tasks we will also rely on your company as a key partner to help maintain our reputation for excellence.

3. Leverage Technology

It’s now common practice for commercial property management companies to use technology across all aspects of their business process, from finance and accounting/collections, leasing/marketing to project management. Utilizing a thorough and efficient technology platform will not only save your company time and money but will also ensure you stay competitive down the road when new technologies become available.

3.  Know What’s Coming Down the Pipeline

Changes in commercial real estate come fast and furiously so it’s important to be aware of what’s coming next. These can include green and sustainable development, increasing competition due to economies of scale, more tenant-facing roles, changing workforce demographics and higher education expectations, just to name a few. By keeping abreast of the latest trends, industry events, new technologies and what other companies are doing will give your company some breathing room in today’s fast-paced world.

4. Get the Most Out of Outsourcing

When it comes to outsourcing, companies can get so caught up in choosing a provider and letting them take over the reins that they lose sight of how best to leverage their services. Every relationship is different so figuring out what’s most important will ensure success. There may be some areas where you need more hands-on board than others or vice versa depending on your company’s unique needs and industry focus. Regardless, having clearly defined goals and expectations at the outset will help smooth the transition overall and create more opportunities for collaboration later down the road if needed.

5. Don’t Fear Change — Embrace it

Every relationship is continually evolving so being flexible and thinking outside of the box can help ensure success. This means evaluating your company’s needs, wants and constraints every once in a while to see if there are areas where outsourcing may be more efficient or effective than in-house staffing.