The Truth Hides in Plain Sight

When I inspect office buildings and shopping centres prior to purchase, I always make sure to inspect the toilets. It’s not the most glamorous part of the tour, but often the most telling.

I look at how well the toilets are maintained. Are they clean? Are they well ventilated? Is the soap and toilet paper well stocked?

Why do I bother? Because how the toilets are maintained is often a reliable gauge of the owner’s mindset and the modus operandi of the managing agent.

If the toilets are poorly maintained it tells me a couple of things. First, the owner may be skimping on essential opex and capex in other areas, such as plant rooms, end of trip facilities, fire compliance etc – and thus to be on high alert.

Second, the owner has a short term focus and doesn’t place a high value on tenant comfort and satisfaction – and thus there may be an opportunity to improve tenant retention on relatively minor spend.

So when you’re next offered a guided tour, make sure you take a few detours. The truth is often hiding in plain sight and everything in life is speaking to you in spite of its apparent silence. Even the toilets.

#everythingspeaks #realestate #property #propertymanagement
When I inspect office buildings and shopping centres prior to purchase, I always make sure to inspect the toilets. It’s not the most glamorous part of the tour, but often the most telling.

I look at how well the toilets are maintained. Are they clean? Are they well ventilated? Is the soap and toilet paper well stocked?

Why do I bother? Because how the toilets are maintained is often a reliable gauge of the owner’s mindset and the modus operandi of the managing agent.

If the toilets are poorly maintained it tells me a couple of things. First, the owner may be skimping on essential opex and capex in other areas, such as plant rooms, end of trip facilities, fire compliance etc – and thus to be on high alert.

Second, the owner has a short term focus and doesn’t place a high value on tenant comfort and satisfaction – and thus there may be an opportunity to improve tenant retention on relatively minor spend.

So when you’re next offered a guided tour, make sure you take a few detours. The truth is often hiding in plain sight and everything in life is speaking to you in spite of its apparent silence. Even the toilets.

#everythingspeaks #realestate #property #propertymanagement