How can you improve risk management in CRE through partnerships and collaborations?

2 Collaborate with landlords

Another important source of risk in CRE is landlord uncertainty, which can affect your lease terms, costs, and quality of service. To avoid this, you need to collaborate with your landlords and establish trust, transparency, and alignment. You can use various strategies and tactics, such as negotiation, communication, benchmarking, and performance measurement, to optimize your lease agreements and ensure your landlord delivers on their promises. By collaborating with your landlords, you can also leverage their expertise, resources, and networks, to access better locations, facilities, and opportunities.

4 Consult with experts

A fourth significant source of risk in CRE is market volatility, which can impact your demand, supply, and competition. To cope with this, you need to consult with experts and gain insights, knowledge, and advice. You can use various sources and channels, such as research, reports, events, and platforms, to access and exchange information and best practices. By consulting with experts, you can also discover new trends, opportunities, and solutions, to enhance your market intelligence, strategy, and differentiation.

5 Comply with regulators

A fifth essential source of risk in CRE is regulatory compliance, which can affect your legal, financial, and reputational risks. To manage this, you need to comply with regulators and follow their rules, guidelines, and standards. You can use various tools and systems, such as policies, procedures, controls, and reporting, to ensure your compliance and accountability. By complying with regulators, you can also reduce your exposure, liability, and penalties, and improve your credibility, reputation, and trust.