If you work in commercial real estate, you know how essential it is to stay updated on changing trends. You can establish yourself as a leader and anticipate other changes by staying on top of industry trends.
Real estate is evolving in the commercial and industrial sectors. New technologies have disrupted many industries, and real estate is no exception. Using innovative technology, we are changing how we manage and engage with our properties, like apartments for rent in Santa Maria.
As a result of facility management software’s growth, a highly technological industry that required innovation now has access to automation, AI, and IoT.
PropTech trends in facility management are increasingly reliant on mobile apps. Tenant portal apps give property managers, technicians, and tenants access to statistics, documents, and management tools. You can track employee location, store and send metrics between team members, and increase productivity.
- Operational management and bookings
Time-consuming and repetitive tasks can be removed with mobile apps. Managing bookings, communicating with clients, and receiving statistics on the go are all possible with the application.
- Enhancing the user experience
There is no better tenant management software than mobile apps like tenant apps. By answering immediate questions, providing information on bookings, incurring costs, updating databases, and personalizing, it can enhance the user experience.
- App for managing facilities
You can maximize productivity with accurate reporting, compliance, and system capabilities.
Trend# 2. Artificial intelligence for performance
It is all about increasing performance with artificial intelligence. Commercial real estate can benefit from several types of AI, depending on your objectives. The types of artificial intelligence and what they do are as follows:
- Processing natural language
Computers can learn a human language with the help of artificial intelligence. The AI becomes more adept at ‘conversing’ and understanding linguistic patterns.
- Machine learning
In this type of AI, computers learn from data and apply it to improve performance.
The commercial real estate sector is ideally suited to both types of artificial intelligence. Using both enables data-tailored actions, such as reading applications and responding automatically – thereby freeing people from tedious work.
Trend# 3. Automation and IoT sensors
The Internet of Things is a system in which “smart” devices are constantly connected to cloud-based software applications. The number of connected devices worldwide will reach 25.4 billion by 2030. It is possible to automate processes without the need for constant human intervention. Smart building management combines IoT and automation to offer innovative solutions for building managers, tenants, owners, technicians, and other real estate pros.
- Keep track of your data automatically
IoT can provide up-to-date maintenance records and property history through continuous data collection. Building sensors can monitor temperature, humidity, air quality, people’s presence, and many other things about the building’s condition. The automatic data monitoring keeps track of everything, gives you full access to the system, and lets you know when something’s wrong.
- Maintenance Alerts
Building managers and technicians can get alerts on any problem areas and make repairs faster and cheaper with smart devices. Integrating the IoT with CMMS and CAFM allows you to set alarm levels for sensor readings and get notifications.
- Physically connecting spaces
A device can connect to a property’s physical components. Users can control indoor systems like temperature and lighting using IoT sensors, for example, beacons attached to walls and ceilings. With this technology, we can automatically control the presence of people, ambient conditions such as humidity, and machine usage in a room. By counting people in the restrooms to reduce costs, usage-based cleaning services can be introduced.
Trend# 4. Virtual and Augmented Reality
Ninety-seven percent of property buyers conduct online searches before physically inspecting a property. Computer-aided facilities management systems will be transformed by virtual and augmented reality systems.
- 3D Modeling
There is nothing more challenging than conceiving a new property. As a visual tool, 3D Modeling can create realistic architectural images to improve decision-making and provide a better perspective on building upgrading.
- Virtual Property Tours
Virtual tours can enhance the buyer experience for commercial real estate firms. The buyer can see everything in detail, even if they cannot physically look at the property because of COVID-19 restrictions. Virtual tours will continue to be used by 72% of agents after the pandemic, according to a recent survey.
- BIM and CAFM integration
By integrating CAFM and BIM (Building Information Modeling), presentation models can be improved, and information can be transferred between teams more efficiently. Visualizers that can display 3D models of a property can be provided as part of this solution. Additionally, multiple sites can be managed, specific equipment can be located, and work orders can be added quickly.
Trend#5. Security & smart technology
The use of smart technology is ubiquitous in many industries, but commercial real estate is its most prominent user. Property managers, owners, investors, and tenants like it because it effortlessly serves their real estate needs. Commercial real estate uses smart technology in the following ways:
- Smart locks
Keeping your data safe is necessary but not worth sacrificing convenience. Smart locks combine convenience and security. They protect entry points. As an alternative to keys, key fobs, and PINs, tenants are given smartphones as entry credentials.
- Video intercoms
An intercom system allows service providers easy access to a building without being let in by building staff. Guests and tenants can easily enter a property with video intercoms. Video intercoms provide excellent access control and are underrated.
- Biometric readers
In biometric readers, fingerprints, facial recognition, and voice commands are used for access. In sensitive spaces, these readers are the best option as they can’t be manipulated with fake identification.
Residential VS commercial – Where to Invest? Having read the above post, you can now make better choices based on the latest technology.