It’s true – there has been a fundamental shift in how, where, and when work happens. That said, the office is not a thing of the past like some headlines may lead you to believe.
According to a recent Resume Builder survey, 90% of the 1,000 participating companies plan to implement return-to-office policies by the end of 2024. Supporting data from Hubspot reported that 73% of remote workers are in fact back to the office at least once a week. And, just a few weeks ago Nike announced changing its return-to-office policy from three days to four.
Why does RTO matter to landlords?
Even with this expected uptick in RTO mandates, US office vacancy rates will remain low causing slow rent growth and continued high competition for tenants. However, it is important to note that while office occupancy overall will remain low, there’s growing demand for the highest-value office space, the kind that adds value for high–performing tenants through experience. What this shows is that for a landlord to be successful in today's market, they need to offer tenants more than just an office, rather, an experience – one that will more than justify the cost of their investments, and support their RTO requirements.
What is your REX?
All properties have a REX, but it's not always what end-users are looking for. So how do you know if your REX is good, if it’s meeting the needs of your current tenants, offering the wants of your future tenants, and if it’s competitive with other properties?
You need data and insights – and that is where HqO’s Intelligence comes in.
Assess your REX
HqO’s Intelligence is the new industry standard for measuring and assessing the health and performance of a customer’s experience within a property. A suite of revolutionary products, Intelligence delivers unparalleled analytics on workplace sentiment, trends, expectations gaps, and competitive insights that arm the world's most innovative and forward-thinking organizations with the data they need to build impactful, engaging, competitive properties.
The REX Assessment, a product of the suite, enables landlords to quantify and understand the needs, preferences, and pain points of their tenants through a short, 10-minute survey.
Using data from the REX Assessment, and our proprietary framework, a property’s REX Score is generated. The score represents the success of end-user experiences at their property, which directly correlates to how likely a landlord is to achieve high occupancy, attract and retain tenants, and generate revenue.
Assessing your REX is easy with HqO’s Intelligence. Learn more about deploying the assessment at your asset today.
HqO’s REX Platform
Intelligence is just a piece of the HqO REX Platform - an asset-agnostic, cross-property suite of powerful applications and services that foster best-in-class, dynamic end-user experiences. The platform, which officially launched last month, assesses the health and performance of a customer's experience within a physical space, while providing the necessary tools for operators to manage and optimize it, all from one central location.
Learn more about the other innovative REX Platform products responsible for boosting tenant retention, increasing net operating income, and driving efficiencies in operating cost.