New Survey Reveals Need for Commercial Occupiers and Landlords To Get More in Step on the Future of the Office
SOLON, Ohio, May 25, 2021 / PRNewswire / – New research from MRI Software, a global leader in real estate solutions, shows 71% of commercial users say the mass shift to remote working during the pandemic has fundamentally changed their long-term approach to space use, and 69% of landlords did do not expect permanent effects from COVID-19. MRI partnered with CoreNet Global, the leading association for real estate professionals, to survey 200 tenants and 50 landlords in a wide cross-section of industries worldwide. The results provide insights into key post-pandemic views on return to work and reveal critical differences in the expectations of commercial tenants and landlords.
The survey report “MRI Software Market Insights: Back to the Office” shows that more than half of business users would like to rent less space after the pandemic, while more than half of landlords see no change in their tenants’ requirements:
- 56% of users state that they need less space, with the vast majority expecting fewer employees on site at the same time. whereas 60% of landlords see their tenants renting out the same space, with only 33% forecasting a decrease;
- None of the tenants surveyed said they would be looking for more space to accommodate a lower workspace density, and only 3% expect to lease additional capacity to allow additional collaboration spaces once remote workers return to the office .
“Much of the results were expected, but the different prospects between commercial users and their landlords were particularly surprising,” he says Brian Zrimsek, Industry leader, MRI software. “The good news is that both tenants and property owners are seeing the benefits of getting the workforce back into the office. Together, they now have the opportunity to align their approaches and partners to ensure that employees work even more effectively and safely than your company. ” Adaptation to new standards, practices and configurations. “
One area where both corporate users and landlords agree is the need to deploy technology to meet changing needs as the pandemic subsides. Even those who can rely on current skills plan to expand their existing facilities and / or employ new workplace management tools. The results show that 83% of users and 64% of landlords plan to introduce new technologies, while 77% of tenants and 68% of builders / operators plan to expand their current solutions.
Other important results are:
- The report confirms the extent of remote work: 72% of occupiers had fewer than a quarter of their local workers during the crisis – and virtually all of them were considered essential workers.
- The adoption of remote working has increased, and around a third more companies expect remote working (89%) than before (66%) after the pandemic – an increase of 23 points;
- For many employees, more remote work means different office settings. 54% of users either switch to hotdesk or expand their use, and only 20% keep assigned workstations.
- These changes mean that users change their rental strategies and landlords see their tenants: negotiating new terms (63%), breaking leases (50%), seeking shorter extension periods (44%) and / or letting leases expire (29%) ).
Zrimsek summarizes: “The pandemic has accelerated the trends in technology adoption that have already started. As employees return to work, both commercial users and landlords are realizing that PropTech tools for rethinking workplace management strategies, re-evaluating Rental portfolios and managing flexible office needs are critical. “
Information about the MRI software
MRI Software is a leading provider of real estate software solutions that transform the life, work and play of communities. MRI’s comprehensive, flexible, open and networked platform enables owners, operators and users of commercial and residential real estate organizations to innovate in rapidly changing markets. MRT has been a pioneer in the PropTech industry for over five decades, serving more than two million users worldwide. With leading solutions and a rich partner ecosystem, MRI offers real estate companies the freedom to grow their business and gain a competitive advantage. Visit mrisoftware.com for more information.
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Rachel Antman (+1 212 362 5837)
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SOURCE MRI software