Analyze space usage - including headcount data - and prioritize actions.

A common challenge for real estate teams is to find opportunities for cost savings in their portfolio. To do so, you need to understand the usage of each location. As well as an evaluation of the effectiveness of space utilization.

For lease administrators, compiling data points is usually a tedious manual process. Data points include critical lease dates, current expenses, occupancy and comparable market data. Various departments and data silos routinely hold such information. Or you must acquire it from third-party sources.

Commercial real estate teams end up spending way more time on the process of data gathering. Instead, they could quickly be able to analyze to make the most informed recommendations.

Ideally, one lease administration software connects all the necessary headcount and lease data points. Various stakeholders can update the platform. Your software should always be ready to produce the most up-to-date reports with one click.

That way, finding cost savings is not only easier, but the system arranges lease renewals and actions.

This is one of the five important steps for lease administrators who want to embrace technology. Read more in the new eBook 5 Ways Commercial Tenants Plan Smarter & Negotiate Harder.