What's the REX Score?
A HqO Intelligence product, the REX Score, is the quantified value operators get from a building. In essence, the REX Score indicates how well a property responds to the needs and preferences of its occupants, which directly correlates to how likely a property is to attract and retain tenants, and generate revenue.
How do you get your REX Score?
It’s simple — only two steps!
Step 2 - Distribute the REX Assessment to your tenants. The REX Assessment, another product from the Intelligence suite, is the industry-leading tool for quantifying employees’ workstyles, preferences and overall satisfaction. The survey only takes 10 minutes for end-users to complete!
With this data and our proprietary framework, HqO will generate your REX Score.
Why do you want your REX Score?
1. Attract & Retain Tenants
A higher REX Score suggests that a property is meeting the expectations of its occupants, making current tenants more likely to stay and renew their leases. Similarly, a positive end-user experience, as indicated by a high REX Score, makes a property more attractive to potential tenants.
2. Generate Revenue
A property with a high REX Score is likely to have better revenue potential, as satisfied tenants are more likely to pay higher rents. Additionally, the property’s reputation may attract new tenants, making it a more sought-after property, allowing for higher new rent rates. And finally, retaining existing tenants reduces the associated costs of finding new tenants.
3. Get on the REX Index
Every REX Score will be added to and become part of the REX Index (REXi), the industry’s first global real estate user experience indicator, benchmark, and tool for certifying and exploring properties through the lens of people’s experiences. When it launches in 2024, REXi will allow occupiers to measure and compare the buildings they lease against the best in the world. Landlords with low scores or not on the REXi at all will be missing a major opportunity to set themselves apart from the competition, and will get overlooked during the leasing and renewal process.