Diversity, Equity and Inclusion: Designing an Inclusive Workplace

Creating a workplace that is inclusive and welcoming to all employees is essential for promoting diversity, equity and inclusion. This not only benefits the employees, but it also has a positive impact on the overall productivity and success of the organization. However, designing a workplace that is inclusive is not always straightforward, as it requires a deep understanding of how space affects people from various perspectives and characteristics.

One important aspect of designing a workplace for diversity, equity and inclusion is embracing the principles of universal design. This means designing buildings, products and environments that are accessible to all, regardless of their age, physical abilities, or mental health. This includes designing spaces that are physically accessible, with ramps, elevators, and wide doorways, as well as providing appropriate lighting, signage, and acoustics.

Another important aspect of designing a workplace for diversity, equity and inclusion is creating spaces that are culturally inclusive. This means understanding the diverse backgrounds and experiences of the employees and creating spaces that are welcoming and respectful of different cultures, religions, and lifestyles. This can include providing prayer or meditation rooms, as well as spaces for breastfeeding or lactation.

Additionally, it's important to consider the socio-economic, gender, sexual orientation, and racial backgrounds of employees when designing a workplace. This may include providing private, safe spaces for employees to take breaks or providing gender-neutral bathrooms.

Another way to promote diversity, equity and inclusion in the workplace is to invest in employee training and education. This can include providing training on unconscious bias, diversity and inclusion, and cultural competency. Additionally, it is important to have a diverse group of employees represented in the design process, to ensure that the space is inclusive and representative of the diverse backgrounds and experiences of the employees.

In summary, designing a workplace for diversity, equity and inclusion is essential for promoting a welcoming and inclusive environment for all employees. This can be achieved by embracing the principles of universal design, creating spaces that are culturally inclusive, considering the diverse backgrounds and experiences of employees, and investing in employee training and education. By creating a physically and culturally inclusive space, we can allow employees to thrive, which ultimately benefits the organization as a whole.

Bridgethe Gap – Enhancing Communication for Real Estate Teams

 

Effective communication is a key component of any successful organization, and this is particularly true when it comes to the relationship between engineering and property management teams. Engineering teams are responsible for designing and maintaining the physical infrastructure of a building, while administrative teams handle the day-to-day operations and management of that same building. While these teams may have different responsibilities, they are ultimately working towards the same goal: to ensure that the building is running smoothly and efficiently.

However, without clear and consistent communication, misunderstandings and misalignments can occur between these two teams. For example, the engineering team may not be aware of the daily operational needs of the administrative team, leading to delays in the completion of tasks and a lack of collaboration. On the other hand, the administrative team may not understand the technical details of a project, leading to confusion and frustration.

To address these issues, it is crucial for both teams to have a clear understanding of each other's responsibilities and priorities. This can be achieved through regular meetings and check-ins, where team members can discuss ongoing projects, share information, and provide feedback. By having open and transparent communication, teams can gain a better understanding of each other's roles and can work together more effectively.

Another important aspect of enhancing communication between engineering and property management teams is to establish clear lines of communication. This means having a designated point of contact for each team, who can act as a liaison between the two teams and ensure that information is flowing smoothly. Additionally, it's important to have clear protocols in place for how and when information is shared between the teams, such as regular status updates or a shared project management platform. (See our review on Trello here)

In addition to clear lines of communication, it's also important to have a mutual understanding of each team's goals and objectives. By understanding the broader context of a project, both teams can work together to achieve common goals and identify areas where they can collaborate more effectively.

In summary, effective communication is critical for the success of any organization, and this is especially true for engineering and administrative teams. By understanding each other's responsibilities and priorities, establishing clear lines of communication and mutual understanding of goals and objectives, teams can gain greater alignment and collaboration, leading to a more efficient and successful building operation. Regular meetings, clear protocols and designated point of contact are important tools that can facilitate better communication and collaboration between the teams.

What is the BOMA Standard?

 

BOMA, or the Building Owners and Managers Association, has established a set of standards for measuring the floor area of a building. These standards, known as the BOMA standard method, are widely used in the commercial real estate industry to determine the size and value of a building. By using the BOMA standard method, all parties can have a clear and consistent understanding of the size and value of a building.

The BOMA standard method involves measuring the usable square footage of a building, which includes all finished and enclosed spaces that are intended for office, commercial, or industrial use. This includes areas such as offices, conference rooms, and storage spaces, but excludes spaces such as restrooms, elevators, and stairwells.

In the case of an office building, the BOMA standard method typically includes all finished and enclosed spaces that are intended for office use, such as private offices, open office areas, and conference rooms. However, in the case of a retail center, the BOMA standard method typically includes all finished and enclosed spaces that are intended for retail use, such as store fronts, common areas, and storage spaces. Similarly, the standard for measuring a warehouse will include all the enclosed spaces that are intended for industrial use, such as loading docks and storage areas.

Additionally, some specific building types may have their own set of standards, such as healthcare facilities and educational facilities, which may have different rules and regulations.

The BOMA standard method also includes provisions for measuring multi-tenant buildings, for accurate expense allocations. In these cases, the usable square footage of each tenant space is measured and the common areas, such as lobbies and restrooms, are divided among the tenants according to a pre-determined formula.

The BOMA standard method is recognized as the industry standard for measuring floor area in commercial buildings and is used by many real estate professionals, including landlords, tenants, brokers, and appraisers. By using the BOMA standard method, all parties can have a clear and consistent understanding of the size and value of a building.

Escalations 101

When it comes to commercial real estate leases, one important aspect to consider is the escalation clause. Escalation clauses provide a mechanism for adjusting the rent paid by the tenant over the term of the lease. These clauses typically specify a formula for determining the new rent amount, which is usually based on an external index such as the Consumer Price Index (CPI) or the cost of living.

The main benefit of an escalation clause for landlords is that it allows them to increase the rent in line with inflation. This helps to ensure that the landlord is able to maintain their income and profitability, even as the cost of maintaining the facility increases over time. Additionally, escalation clauses can also be used to adjust the rent based on other factors such as uncontrollable changes in property taxes or operating expenses.

For tenants, escalation clauses provide some predictability and stability in terms of their future rent costs. By knowing how the rent will be adjusted over time, tenants can better plan their budgets and make more informed decisions about their long-term occupancy of the property.

Additionally, landlords can choose to include or exclude certain costs or expenses, in the escalation calculation, so the tenants should be aware of what are those costs and expenses that are included and how they are calculated. For example, some escalation clauses may only apply to certain operating expenses such as property taxes or utilities, while others may apply to all variable costs. This can have a significant impact on the overall cost of the lease for the tenant. The clause may also include either a floor or a cap. A cap is a limit on the amount by which the rent can increase over the term of the lease. For example, a cap might limit the amount of increase to a certain percentage or dollar amount. This provides some protection for the tenant from significant rent increases and also provides certainty for the tenant's budgeting and planning.

It's also important for both parties to consider how often the escalation will be applied, which is usually on an annual basis, but it could be on a different frequency. Escalation dates are typically either based on the date the lease is signed or the date that the space is occupied.

It's important to note that escalation clauses can be formulated in different ways and can be based on different indices or factors. It's essential for both landlords and tenants to fully understand the terms and conditions of the escalation clause before signing a lease. The escalation clause should be carefully reviewed by both parties and any questions or concerns should be addressed before the lease is executed.

The Servant Leadership Philosophy

Servant leadership is a leadership philosophy that focuses on putting the needs of others before the needs of the leader. It is characterized by a focus on service, humility, and the empowerment of others. The idea is that a leader should work to serve the needs of their team and help them to reach their full potential.

Servant leadership can be an effective approach for property managers to lead and manage their teams, tenants and properties. Here are a few ways that servant leadership can be applied in property management:

1. Focusing on the needs of others: A servant leader should prioritize the needs of their team and their tenants over their own needs. This means actively listening to the concerns and ideas of team members and working to address them.

2. Empowering team members: Servant leaders should empower their team members by giving them the resources and autonomy they need to succeed. This includes providing training, mentoring and giving them decision-making power.

3. Building trust and respect: A servant leader should work to build trust and respect with their team members by being transparent, honest, and keeping their promises.

4. Encouraging growth and development: Servant leaders should encourage the personal and professional growth of their team members by providing opportunities for learning and development.

5. Lead by example: A servant leader should lead by example, showing team members the kind of behavior and attitude they want to see in them.

6. Recognize and reward: Servant leaders should recognize and reward the efforts and achievements of their team members.

7. Encourage open communication: Servant leaders should create an environment where team members feel comfortable sharing their ideas, thoughts, and concerns.

It's important to note that servant leadership is not a one-time action, it's a continuous process that requires ongoing effort, commitment, and adaptation. It takes time to build trust, respect, and a culture of servant leadership within an organization, but with the right approach and mindset, it can be a powerful tool for creating a successful and productive team.

Preparing for an Appraisal

Preparing for a commercial real estate appraisal can be a complex process, but with proper planning and preparation, you can ensure that the appraisal is accurate and that you receive the best value for your property. Here are some steps to help you prepare for a commercial real estate appraisal:

1. Gather all necessary documents: Collect all relevant documents related to the property, such as lease agreements, building plans, zoning and permits, property tax records, and any other documents that may be relevant to the property's value.

2. Conduct a thorough property inspection: Before the appraisal, consider having the property inspected by a professional inspector or thoroughly by team members to identify any issues or repairs that may affect the value of the property. Make sure the property is in good condition and that all systems and equipment are in working order.

3. Research comparable properties: Research comparable properties in the area to understand the market trends and the current value of similar properties. This information can be used to support your property's value during the appraisal. Know what makes your property unique.

4. Provide detailed information about the property: Provide the appraiser with detailed information about the property, including its size, location, age, and any features or amenities that may increase its value.

5. Be available: Make yourself available to answer any questions the appraiser may have about the property or the market.

6. Be honest and transparent: Be honest about any issues or repairs that need to be made to the property and disclose any known problems that may affect the value of the property.

7. Understand the Appraiser's methodology: Understand the appraiser's methodology and the standards they use to appraise the property, this will help you understand the reasoning behind the appraisal and how the appraiser arrived at their conclusion.

By following these steps, you can help ensure that the commercial real estate appraisal is accurate and that you receive the best value for your property.

Traveling Smoothly

Whether for a conference, a site inspection, a visit to the corporate office or a job interview, there comes a time when many property managers must travel. Traveling for business can be a stressful experience, but with a little bit of planning and preparation, it can be a smooth and enjoyable experience.

1. Plan ahead: Before you travel, take the time to plan your trip. This includes making sure you have all the necessary documents, booking your flights and accommodation, and arranging transportation to and from the airport. If you are visiting multiple buildings, consider planning the route in advance including potential lunch/rest stops.

2. Pack smart: Pack only what you need and make sure you have all the essentials, such as your laptop, charger, and necessary medications. It's also a good idea to pack a change of clothes in your carry-on, in case your luggage gets lost.

3. Stay organized: Keep all your important documents, such as your passport/ID and boarding pass, in a designated travel folder or wallet. This will make it easier for you to find what you need when you need it.

4. Take advantage of technology: Utilize technology to make your travel experience smoother. For example, you can use apps to track your flights, book transportation and make restaurant reservations.

5. Be prepared for the unexpected: Travel can be unpredictable, so it's important to be prepared for the unexpected. Make sure you have travel insurance and bring something to keep you busy if your travel plans are delayed.

6. Take care of yourself: Travel can be demanding on your body and mind, so make sure you take care of yourself. Get plenty of sleep, drink water, eat well and stretch your legs when you can. This will help you stay focused and productive while on the road.

By following these tips, you can make sure your next business trip is as smooth and enjoyable as possible.