International. In the current context, commercial real estate management has become a complex process, where multiple factors influence the success of a building or office complex. Informed decision-making has taken on a fundamental role, and it is necessary to consider key performance indicators (KPIs) to ensure optimal performance. Along these lines, JLL, a renowned multinational real estate company, has highlighted three metrics that are transforming traditional KPIs in the commercial real estate sector: net operating income (NOI), rent growth and capital expenditures (CapEx).
First, tenant satisfaction stands as a crucial factor that directly impacts the increase in net operating income (NOI). Having real-time data on tenant preferences and behaviors has become essential to making informed decisions. According to JLL, tenant satisfaction influences multiple aspects that impact NOI, from higher renewal rates to reduced costs associated with vacancy and maintenance.
Another relevant variable in modern property management is energy consumption and its impact on rent growth. Controlling and optimizing a building's energy consumption not only reduces operating expenses (OpEx), but can also increase tenant attraction and, consequently, property value. According to JLL, energy-efficient buildings not only reflect a concern for the environment, but also allow for more competitive rents, thus consolidating the total value of the property.
Finally, preventative maintenance plays a vital role in modern real estate management, directly impacting capital expenditures (CapEx). A well-executed maintenance program makes it possible to identify potential problems in the building before they become critical situations, thus extending the life of systems and reducing upgrade or replacement costs. Regular maintenance avoids unplanned repairs, resulting in significant savings in CapEx expenses in the long run.
These three fundamental metrics highlight the importance of tenant satisfaction, energy efficiency, and preventative maintenance in modern property management. Its correct implementation can have a direct impact on the performance of buildings, positioning them at a higher level in today's competitive market. To achieve this balance, having specialized teams in facility management and administration, known as Facility Management, becomes crucial.