Intelligent building solutions enable better, faster and data-based property management practices.
Intelligent property management is the next frontier in smart, intelligent building solutions. As explained by Omri Barzilay of Forbes, the property management industry has surpassed $73 billion annually in growth, but it continues to face mounting inefficiencies and lacking technology. However, property management companies and corporate real estate (CRE) providers are turning to intelligent building solutions to unlock savings and better operations in these five ways.
1. Intelligent Property Management Leverage the Internet of Everything (IoE) to Streamline Property Management
Intelligent building solutions harness the power connected devices across both physical assets and occupants’ devices. Occupants can report problems which are key concerns to management through a property’s tenant portal or via smart devices within their units. Automated systems notify management, identifies the problem’s technical cause, creates the respective work order and sets up a service call. Thus, the issue is resolved faster and with fewer use of resources than traditional property management, streamlining the whole process.
2. Intelligent Building Solutions Are Growing AI-Focused
Intelligent building solutions are much more than connected systems, and the use of artificial intelligence (AI) is on track to simplify traditional property management duties. AI can take data gathered from the Internet of Everything and generate emails to tenants capable of increasing efficiency.
For example, tenants overriding lighting system settings when ample natural light is available can be notified automatically through AI generated emails to reduce the use of lighting systems during appropriate time periods.
3. They Improve Accountability and Responsiveness Among Staff Members
Intelligent property management also relies on the ability to manage facilities with fewer resources. This includes improving productivity and maintaining accountability and responsiveness among staff. Since systems are intelligent, leveraging the Internet of Everything and advanced software platforms, property managers can ensure all team members their duties as required without direct oversight. Also, less in-person micromanagement of property management activities reduces management-level interference and improves responsiveness.
4. Energy Savings Translates Into a Better Corporate Social Responsibility Profile
Intelligent property management enables better use of systems, including heating, plumbing, ventilation, air conditioning, lighting, sewage, water use and more. Savings from the system’s results in a better corporate social responsibility profile, which encourages lease renewals, fewer complaints, and unyielding marketability.
5. Faster Service Powers Further Innovations Through Better Communication, Hive Mentality of Occupants and More
Intelligent building solutions promote intelligent property management by enabling property management professionals to spend more time working in a facility, not chained to a desk, explains Jana J. Madsen of Buildings.com. In other words, management staff is visible in the building, working with tenants, inspecting the premises and participating in the actual client-manager relationship.
Property Managers Bridge the Divide Between Occupants and Intelligent Building Solutions
Modern, intelligent property management professionals expect smart, intelligent building solutions in their workspace. Up to 70 percent of millennials want to work in a smart, intelligent building, so companies using such systems can successfully improve employee satisfaction while taking advantage of intelligent building solutions’ benefits. Furthermore, property managers must bridge the divide between occupants and intelligent building solutions. Intelligent building solutions are great, but property managers can use intelligent property management benefits to encourage better adoption rates of new technology as well.