We’re days out from Q1, 2025. As you reflect on your lease portfolio and commit to management practices that drive improvements, here are some business resolutions for the new year that will help you maximize the value of your real estate assets in 2025 and beyond.
Regularly Analyze Your Portfolio
Analyzing your lease portfolio is crucial for ensuring accuracy and that you are not needlessly funneling away assets. Set aside a specific amount of time to thoroughly review your portfolio – depending on its complexity, this could be every week, month or quarter.
Ways to analyze your portfolio include: exploring opportunities for consolidation or expansion, assessing your company’s real estate footprint, identifying underperforming properties or locations and evaluating the financial performance of each lease.
Minimize Unnecessary Costs
No business wants to needlessly shovel away money. Proactively review your lease agreements and negotiate terms where possible to secure more favorable rates. Regularly benchmarking your portfolio against market rates can help you identify savings opportunities.
Additionally, automating administrative tasks like payment processing can streamline operations and reduce administrative overhead. Leveraging technology can provide valuable insights into your portfolio, allowing you to make data-driven decisions that yield maximum value.
Implement ESG Reporting
Environmental, Social and Governance (ESG) reporting can help you refine your lease portfolio in addition to creating a more sustainable future. Disclosing information about your environmental impact will help you identify areas where your business can be more sustainable. Demonstrating your adherence to ethics can also help attract customers and investors.
Ways to incorporate ESG into lease management include implementing recycling programs at your brick-and-mortar locations, prioritizing sustainable sites during expansion and assessing each of your lease properties for energy efficiency. Businesses are notorious for their carbon footprint – commit to a more sustainable future by including ESG initiatives in your portfolio.
Embrace Lease Management Strategies
As the commercial real estate landscape further evolves, the best way for your business to stay ahead is by adopting new lease management strategies.
Examples of ways to do this include: experimenting with flexible lease structures, implementing automated lease administration and notification systems, using data-driven analytics and centralizing lease documents and data. Even implementing just one or two of these practices can have a profound impact on your business.
Make Next Year Your Most Successful One Yet
By committing to each of these resolutions, you are positioning your business for a more organized, sustainable and cost-effective new year. With a team of lease management experts by your side, you can achieve all of your goals for a productive and prosperous 2025.
Contact Scribcor today to talk lease management strategies for the new year. We look forward to working with you.