The Impact of Remote Work on Commercial Property Management

The way people work is changing, and where they’re working is changing even faster.

Over the last few years, a steady shift to remote work has been altering real estate dynamics around the world. Traditional office needs are quickly becoming a thing of the past, and both buyers and sellers are feeling the change.

Here’s a look into what that change means and how you can thrive in a real estate environment shaped by the possibilities of remote work.

 

Reconfigured Commercial Property Spaces

One of the biggest impacts of remote work on property management has been a change in how workspace is used. As many industries see more and more workers doing their jobs from home, CRE owners are finding unique and exciting ways to serve their tenants with these spaces.

Shared Workstations

With the possibility of fewer employees using a space during a given day, many property owners are creating shared workstations in offices. On a day when one employee might be working from home, another can use their desk, and vice versa. By trading desks depending on who is working and when, landlords can reduce their overall space footprint and make creative use out of their property’s square footage.

Co-Working Spaces

Another property management solution for remote work is to combine multiple businesses in one space. Two or more businesses can occupy space left over by the shift to remote work, thereby making use of the property’s potential and filling out the space in a way that benefits multiple tenants.

This approach can also save you money by reducing expenses needed to pay for maintenance, utilities and taxes on multiple properties.

Non-Traditional Workspaces

More and more employees are gravitating to flexible spaces that abandon many of the traditional setups of the typical office. These include more open, collaborative spaces that ditch cubicles for closer-quarters desks, spaces dedicated to virtual meetings, and more.

By leaning into these expectations, you can tailor your property to serve on-site and remote workers in equal measure.

 

Increased Digital Use

One of the biggest opportunities brought about by remote work is the massive rise of digital technologies. By using the latest online and virtual tools, you can streamline your operations while also making your services and processes easier for employees and tenants. Some of these technologies include:

Virtual Tours & Inspections

The idea of touring a property without physically visiting it has become an industry standard in recent years. Rather than a traditional in-person tour, you and/or your team can now guide prospective tenants through the property without leaving their home.

The same method has also opened up new possibilities for virtual building inspections. You can now get up-close looks at a property through a screen instead of driving to the location, which saves time, travel expenses and the number of property inspectors on your payroll.

Remote Monitoring of Properties

Another aspect of remote CRE work lies in the realm of property monitoring. By implementing smart technologies, landlords can fully watch and even control a building’s functions without visiting the property themselves or paying a technician to make adjustments.

Remote monitoring technologies can include a building’s security systems, lighting, heating and cooling, HVAC and more.

Online Communication Platforms

Keeping in contact with tenants has always been a cornerstone of the industry, and online connectivity has made it easier than ever to maintain that connection. Managers and landlords can now use special messaging and video apps and email to address tenant concerns in a timely manner.

Automated maintenance and service requests are becoming a crucial tool for shortening the time tenants wait for their fixes. These tools and apps can also be used to keep communication tight between team members and collaborators.

 

The Bottom Line

The impact on remote work for commercial property managers has opened new doors to innovate and reconfigure employee work paradigms for the better. You can use the technology of remote work to benefit your existing tenants while making your day-to-day operations more efficient than ever before. You can also get creative with your space by making it more flexible and collaborative.

Ready to apply some of these changes to your own property? The experts at DRK can help. We’ve seen huge success in reconfiguring the larger spaces we manage, and our experts have helped clients reduce their overall footprint by 97%. We can answer your questions, provide guidance and address all your real estate needs.

Learn more about how we can help you manage your property by clicking here, and if you’re on the hunt for new property, take a look at the available real estate in the Columbus, Ohio, area right here.

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