The New ROI in Commercial Real Estate: Tenant Experience Platforms Make Offices Profitable Again
FLEXIPASS #TechXpertise Insight Series
According to a GALLUP study, 51% of U.S. employees with remote-capable jobs are currently working in a hybrid setting – partly in the office, partly from home or elsewhere. Since the Corona pandemic, this number has risen from 18% to over 50% and has remained stable ever since.
At the same time, companies like Amazon and Dell are reintroducing Back-to-Office-Policies, requiring employees to return to the office either partially or fully.
This means that office spaces and co-working spaces are being used more again. The problem: offices in Commercial Real Estate are currently not profitable enough. That is why investments are mainly flowing into hotels and apartments.
One solution: Smart Building Solutions such as Tenant Experience Platforms and Digital Keys. They help save costs and make office spaces attractive for investors again. Everything else about this you will find in this blog article.
Commercial Real Estate: The Problem of Outdated Offices and Low ROI
For hybrid or full-time office work, suitable spaces are needed – either in company offices or in co-working spaces.
Many of these spaces, however, have not been modernized for decades. It is not only about the infrastructure but also about current tech standards. At the same time, tenants expect more due to the hospitality trend in the CRE sector: wellness offers, flexible workspace bookings, food delivery, mobility options, or concierge services. Modern Access Control Systems and digital access via smartphone are also part of this.
For landlords, this means high costs. To meet these expectations, extensive renovations would be necessary. That is why many investors currently see a higher ROI in hotels and apartments.
But with Smart Building Solutions such as Tenant Experience Platforms and Digital Keys, spaces can be modernized without costs getting out of control.
Spaceflow Tenant Experience Platforms and FLEXIPASS Digital Keys
Location and sustainability certifications are no longer enough to attract the best tenants. Users expect a seamless digital experience: building access, service bookings, community interaction, and updates – all in one platform.
This is exactly where Spaceflow comes in. The platform transforms buildings into connected, tenant-centered ecosystems and thus increases efficiency and performance.
One key topic: simple building access. For this, Spaceflow integrates FLEXIPASS, a provider of Wallet Keys, Webkeys, and Mobile Keys. This way, tenants can open doors, turnstiles, or elevators directly from the Spaceflow app, without additional apps. With Digital Keys, the office is therefore accessible at any time, no matter when someone wants to use the workplace.
The integration of FLEXIPASS and Spaceflow lifts the tenant experience to a new level: access and engagement in one single app.
How Smart Building Solutions Increase ROI
This is an example image created by FLEXIPASS and does not contain real statistical data.
With FLEXIPASS, existing Access Control Systems do not have to be completely replaced. Thanks to integrations with leading providers (ASSA ABLOY, Salto, Dormakaba, and others), Digital Keys can also be introduced with older hardware. This creates a cost-efficient upgrade path without major new investments.
Tenant Experience Platforms also save management costs and open up new revenue potential. Example: Vasakronan, provider of co-working spaces and Spaceflow customer, saves around 20 operation hours per month through self-service bookings. The invoicing report feature also brings additional efficiency at the end of each month.
Beyond saving costs and time, Tenant Apps create new revenue sources: all services that tenants expect, from flexible bookings to wellness offers, are bundled and made easily accessible.
The main drivers for a higher ROI are therefore clear: saving costs and increasing revenue. In addition, sustainability functions such as energy dashboards or green mobility services make properties future-proof and attractive for investors.
The Future of Co-Working and Office Spaces with FLEXIPASS & Spaceflow
FLEXIPASS and Spaceflow show how office spaces and co-working spaces can become profitable again. This means that more modern workspaces will be available in the future, and existing spaces will not lose relevance.
We all need offices and that is exactly why this topic is so important. With Digital Keys and Tenant Experience Platforms, landlords can keep costs under control while at the same time offering modern services and simple access to buildings.
Do you want to find out how you can increase the ROI of your office spaces, co-working spaces, or built to rent properties with this?
Why It Pays Off for a Tenant Experience Platform to Integrate FLEXIPASS
For a Tenant Experience Platform that wants to offer mobile access via smartphone, the challenge is huge: countless door lock providers with different specifications. This costs time and resources.
FLEXIPASS solves this problem as Middleware. The biggest providers have already integrated our open API, so that Tenant Experience Platforms can open numerous Door Locks with only one integration.
This is also confirmed by Sandra Muñoz from Spaceflow:
“Integrating directly with door locks is usually complex and time consuming. With FLEXIPASS, it was the complete opposite. The API is intuitive, well documented, and quick to implement, making it the perfect fit for Tenant Experience Platforms like Spaceflow.
Now we are able to open many doors with just one simple integration. Instead of wasting resources on complicated setups, we can focus our time and energy on creating a smoother, more native solution for our clients.”
With FLEXIPASS Digital Keys, a Tenant Experience Platform becomes the central hub for everything in a building: seamless access, bookings, communication and much more.
Do you also want to integrate FLEXIPASS Digital Keys into your Tenant Experience Software?
Here's where things get really interesting. Stuf Storage could have chosen any number of digital access solutions, but they picked FLEXIPASS for a crucial reason: our API actually works the way developers want it to work.