Benchmarking Your Management Team

image

Contributed by Marty Busekrus, SIOR, CCIM, Managing Directory at Ciminelli Real Estate Services  - South Florida

In a recent blog, we covered how to benchmark the performance of your commercial real estate asset against its peers. But what about benchmarking your management and operations staff?  How do they perform relative to their peers in the industry?

To assess this, owners and asset managers would need a detailed operations checklist and then a scoring or ranking system.  Creating this from scratch would be a time consuming process and involve lots of manpower.  Alternatively, you could hire an outside consulting firm that would come in and assess your business operations but that, too, is costly and may be just as time consuming.

Why recreate the wheel though?  The Building Owners and Managers Association, BOMA for short, has an international annual awards process called the TOBY’s or The Outstanding Building of the Year.  Once a year, property managers can enter a building in their portfolio and local judges grade the operations of the manager and their staff.  They use a comprehensive checklist covering over 80 items relating to operational efficiency.

Ciminelli Real Estate Services of Florida's Management Team are proud recipients of 2 TOBY Awards:

  • 2018 TOBY Building of the Year - Medical Office for Carrollwood Medical Office
  • 2014 TOBY Outstand Building of the Year - Under 100,000 for Synovus Bank Building


Contact us for more information on our award winning management team and how our top rated services can benefit you and your asset.


To view a video presentation on this topic > Click Here