Revolutionising Property: Tech & Customer Experiences

The driving forces behind this transformation have undoubtedly been technology and a strong focus on customer experience. This article explores the profound impact of these factors, examining the key transformations that have reshaped the industry, and highlighting how JLL has been at the forefront of this dynamic, technology-driven field.

The technological revolution in property management over the past two decades has led to increased efficiency and effectiveness in property operations. Delivering benefits to Occupiers and Landlords.

One significant advancement has been the rise of smart buildings and IoT (Internet of Things) technology. These cutting-edge systems allow property managers at JLL to remotely monitor and control building operations, optimising energy consumption, enhancing security, and streamlining maintenance processes. Products like Prism and Hank have improved not only sustainability practices but also ensured greater tenant comfort and operational efficiency. A huge change from requiring a physical presence in buildings and manually checking utility invoices.

Royal London Asset Management implemented Hank, an Artificial Intelligence (AI) powered software supporting existing Building Management System (BMS) for HVAC across managed offices in their real estate portfolio, following a successful trial within their Birmingham office.

Laura Thrower, Responsible Property Investment Analyst at Royal London Asset Management said, “To achieve our ambitious net zero carbon goals, we are optimising the operational performance of our portfolio. Hank provided us with a brilliant opportunity to reduce electricity and gas usage across our assets, which has been demonstrated by already-achieved energy savings at the property since the start of 2023. These have translated into notable financial savings for our occupiers, a fundamental priority, particularly during the energy crisis. The ease of implementing Hank and the benefits observed within a short space of time have certainly encouraged us to explore further opportunities to deploy Hank across our portfolio.”

Moreover, JLL has embraced digital platforms that have revolutionised asset management and tenant communication. Our property management software and portals have replaced traditional, paper-based administrative tasks with streamlined, automated systems. These digital platforms enable JLL property managers to handle lease administration, financial reporting, maintenance tracking, and service requests efficiently. Simultaneously, tenants benefit from easier access to information and faster issue resolution, thanks to these user-friendly platforms. One example of this was the introduction of Dealsumm, an AI lease abstraction tool. This platform automates the reading, abstraction and reporting of data and provisions from complex unstructured documents like leases and contracts. This reduces the abstraction time which is especially beneficial for large scale activity.

Property management is no longer just about transactions, but about building strong, long-term relationships with our clients and their occupiers. To demonstrate the importance of CX, JLL have a market leading creative consultancy Bewonder* within our business.

Using the expertise of Bewonder*, JLL place a strong emphasis on delivering exceptional customer experiences. We employ customised experiences and tailored services, ensuring proactive communication and personalised touchpoints that make our tenants feel valued, heard, and engaged. At JLL, we emphasise real-time feedback and tenant satisfaction surveys to continuously improve our services and exceed expectations.

Technology has played a pivotal role in enhancing the customer experience. Our online portals, mobile apps, and self-service platforms empower tenants with greater control and accessibility. These tools enable seamless reporting of issues, service requests, and access to essential information, enhancing the convenience, satisfaction, and overall experience for our tenants. As a result, JLL has developed stronger tenant relationships and achieved higher tenant retention rates.

It’s clear that technology and the focus on customer experience have been transformative factors. Through the integration of PropTech, automation, and digital platforms, JLL has led the way in enhancing operational efficiency, sustainability, and tenant services. Simultaneously, our dedication to delivering exceptional customer experiences has nurtured stronger tenant relationships, engagement, and loyalty.

As we venture into the future, property management industry will experience further technological advancements and evolving customer expectations. JLL is committed to adapting and leveraging these changes to continually enhance the customer experience.

Optimise your portfolio today: Unlock the power of JLL's Property and Asset Management solutions here.