By Samuel Caulton, Re-Leased CFO, first published in UKPA Every so often, the commercial real estate sector witnesses a paradigm shift. In the past, this shift was driven by data and digitisation.
We take great pride in our alliance with the Real Estate Institute of Australia, sharing a common commitment to enriching the commercial real estate sector through Project CRE. Together, we aim to promote growth through advocacy, sharing insights, education, and transformative initiatives.
We recently launched our first Re-Leased Commercial Property Manager Month with immense enthusiasm to honour the dedicated individuals who drive positive change in the world of commercial property management.
In this episode of the Market Lens Podcast, Tom Wallace, CEO of Re-Leased, and Andrew Knight, Global Data & Tech Lead at RICS, look at how some commercial landlords are adopting innovative approaches to ensure demand for spaceswhile others are being left behind. They also discuss the impact of shortening lease lengths in the UK office sector on valuations and how to approach adaptive reuse.
In this episode of the Market Lens Podcast, Tom Wallace, CEO of Re-Leased and Laurence Hart from Macquarie Business Bank shed light on the declining length of office leases in Australia, delving into the factors behind this trend and its impact on the market.
The office market is undergoing a significant transformation, marked by a seismic shift in tenant preferences and strategies. Recent data from Re-Leased reveals a notable decrease in the average length of office leases across the United Kingdom, New Zealand, and Australia, reflecting a shared trend in the commercial property industry. This article will focus on the office market, exploring the factors driving this shift and the implications for landlords and occupiers alike.
Nowadays, tenants want more amenities, and long-term leases are becoming less common. Plus, energy efficiency and sustainability are becoming major concerns for landlords and tenants alike. This means that building owners and management teams need to get creative and think outside the box to create sustainable and flexible spaces that meet the needs of today's tenants.
To state the obvious, the last few years have seen the market mood go from boom to subdued. Despite this, Scott Keck, Chairman of Property Advisory Firm, Charter Keck Cramer encourages those working in the property industry to stay the course - and hold on tight for conditions to improve.
The Real Estate Institute of Australia (REIA) has signed a three-year partnership with global commercial property management software company, Re-Leased.
The customer or tenant experience has been a major talking point across all sectors of commercial real estate recently. As tenants look to move away from 20-year leases to shorter agreements, the onus is on landlords and owners to deliver a service that will keep tenants in their buildings. It’s a trend that has already become popular in the office sector, but Industrials REIT is bringing that focus to the industrial space and finding great success.
There has been cause for celebration at Re-Leased, as it was announced we were nominated for PropTech Innovator of the Year at the Property Week Awards 2022.
How has the pandemic affected commercial landlord and tenant relations, and what will be the lasting impact?
The real estate sector is a fantastic asset for the UK, one that for decades has attracted inward investment from around the world.
In May 2021 office occupancy in London, as measured bythe Metrikus Occupancy Index, surged above 50% for the first time since lockdown measures were introduced in March 2020. The trend is being seen across the UK, with occupancy for the country coming in at 47%. As restrictions ease and vaccination numbers rise, these factors will help boost worker confidence in returning to the office. But it won’t be a return to the office as we knew it, as demand grows for flexible leases and spaces that offer experiences and amenities that cannot be found at home.
Product Announcement | CREDIA by Re-Leased Re-Leased announces the launch of CREDIA (Commercial Real Estate Data Intelligence & Analytics), a new property intelligence platform with valuable real-time insights for real estate professionals. With CREDIA, asset and property managers, or landlords and investors can access operational data and financial analytics that will enable faster decision making and more accurate forecasting, supported by evidence rather than gut instinct.
Re-Leased’s CEO Tom Wallace looks at how technology tools can empower landlords, asset managers and accountants to run real estate portfolios effectively.
Regional View Total % rent reconciled (as of day 4, end of 28 June)
Photo by Nastuh Abootalebi on Unsplash COVID-19 is disrupting the global economy and local economies are feeling the pinch. With many businesses shuttered worldwide and countless unknowns concerning the future, commercial landlords and property managers find themselves in a unique position.
Re-Leased, the cloud-based commercial property management platform, has revealed that just 18.2% of commercial rents in the UK were collected by landlords on 24th June, this quarters’ rent date. This contrasts to 25.3% that was received on March quarter rent day, representing an overall decline of -28% over the three-month period.
Coronavirus will impact the way our industry functions, and how people work, into the future. Some of the changes will represent an acceleration of trends already underway, whereas other impacts will mean a sharp turn from the previously established course.
For landlords and agents dealing with tenant requests for rent relief during the COVID-19 pandemic, the National Cabinet Mandatory Code of Conduct, which is designed to proportionately share the financial burden and business cash flow impact and simultaneously balance the interests of landlords and tenants, raises some interesting challenges for commercial property managers.
For most Commercial Property Managers (CPMs), dealing with the far-reaching consequences of COVID-19 is new territory with many being overwhelmed by the daily influx of tenants requesting assistance. Approaching landlords with these requests, documenting and adapting property management systems and processes to make adjustments – while simultaneously maintaining vital communications with all parties – is a huge challenge. So, how do we meet it?
Commercial real estate has always been an industry centered around relationships. Arguably, they’ve been the most valuable asset for a property professional to own.
It is coined one of the largest, if not the most significant, aberrations for our industry. Messages surrounding the need for real estate companies to harness the utility of data and to ensure its visibility are plentiful. And they aren’t wrong. We operate in a sector where anecdotal evidence is the norm, insight on deal size and nature is communicated on a phone call. Real estate information is amassed in the human cerebral as opposed to online data stores, even in 2020. There is a ripeness for greater transparency as to how our industry operates and the intricacies involved.
Bryce Check, is not only Business Relationship Director, Real Estate Practice at Marsh, but also Founder of Kiwis in Property. Sherif Hassan sat down with Bryce to gain insight into his journey to date and the London / New Zealand property market.
Sitting down with Mathew Tiller, Managing Director of LJ Hooker Commercial based in Sydney, we chatted about the company’s growth plans, emerging trends in the Australian commercial property market, and how the company is embracing tech as it looks to the future.
This is a guest post contribution by Gabe Nelson of Living The San Diego Life.
Kevin Muldoon-Smith, Northumbria University, Newcastle and Paul Michael Greenhalgh, Northumbria University, Newcastle
Commercial real estate technology, or PropTech, has attracted huge financial investment (while continuing to claim global intrigue by leading investors) in recent years. In the United States alone, over $6 billion has been raised by PropTech companies who are disrupting the global real estate industry.
Let’s talk a little bit about talent agility first...
By Libby Sander, Griffith University With all the chatter about beautiful office design, it would be easy to assume workplaces have come a long way from the days of the cubicle farm. But recent research has shown this may not actually be the case.
The so-called ‘consumerisation of technology’, a defining trend in IT, reflects advances in cloud and mobile computing, which have allowed consumers to access their data from anywhere, anytime. As the line between home and work blurs, those same expectations are now the norm for people at work, including those of us in the commercial property management and technology industries.
In the Macquarie Bank Building the business of tomorrow 2018 Commercial Real Estate Benchmarking Report, it’s outlined that 7/10 agencies have increased profits, with 82% anticipating further revenue growth in the 2018 financial year.
For an industry with $3 trillion in revenue a year, and growth of 5.4 per cent over the last 5 years, commercial property management remains something that many in the industry don’t quite get.
With solid growth across the world’s biggest and smallest economies, retail spending and business investment are picking up the performance of the commercial property market.
The commercial property management industry is demanding.
For any property management company, big or small, accounting and bookkeeping are some of the most vital aspects of the job. Get it wrong and it all goes wrong.
Richard Kennedy, the UK Managing Director of Re-Leased Property Software sat down with Dan Hughes, Director of Data and Information Product Management at RICS (The Royal Institution of Chartered Surveyors) to discuss exactly how important data is in the commercial and residential property industry.
If you’re like most property managers, then you have more important tasks than you can keep track of. Improving your efficiency is a great idea, but is it actually possible? Yes: It is!
Commercial property is undergoing a digital transformation. The introduction of innovative technology is radically changing the industry’s 20th-century business practices. When the world around you is shifting, as it currently is for property management businesses, only by staying up to date with advancements in tech can you benefit from the advantages they provide. They say that the arrival of Big Data means big things for the industry, but what can property managers do with it?
As the student accommodation sector becomes a more dynamic and global business the strategic management of student accommodation facilities becomes even more important.