Even in a year when everything changed due to the pandemic, technology continued to develop at a fast pace across all sectors. Companies have relied on innovations to weather changes to the way people work and live due to the pandemic. Commercial real estate is no exception. Read about five commercial real estate technology trends and their benefits with GIG.
Artificial Intelligence (AI)
Today, tenants expect a high level of monitoring for safety, mechanical systems, and energy efficiency. Commercial real estate owners and operators can delegate routine chores like monitoring building security and temperatures to interconnected AI. Cameras and smart thermostats that use a central application increase property surveillance and comfort. The owner can use AI to generate leads and collect applications from a marketing perspective. This technology investment redirects time and energy away from traditional calling and emailing, so marketing staff can focus on vetting applications and moving qualified prospects through the later stages of the sales pipeline.
Tenant Management Portals
The last decade has proven overwhelmingly that current and future tenants demand a staggering level of transparency within commercial real estate investment. Essential technology investment is in a tenant management portal. These portals automate maintenance requests, leases and amendments, and rent collection. Landlord-to-tenant transparency answers questions before asked, saving time and energy usually spent returning calls and emails.
Digital twins applicate in commercial real estate investment
A digital twin is a virtual 3D model of a property. These virtual twins are connected to sensors installed throughout a property, using real-time data to give property managers a picture of a building’s overall health and how vital infrastructure pieces are.
The benefits of using digital twins to manage your property are numerous. A manager can use this data to monitor crucial systems like plumbing or ventilation, deploying fixes months or even years before any significant issues occur. In addition, digital twins could simulate different scenarios, like large crowds or weather events. This acts as a virtual stress test for your property and allows you to prepare for anything.
Smartphone-based access control
Access control is another field being revolutionized by commercial real estate property technology. Today’s best providers solve access control problems that have plagued tenants for decades with smartphone-based systems.
Tenants can use a mobile app to gain more control over property access than ever before. From their phones, tenants can assign virtual keys that can be configured to work at specific dates or times, perfect for both one-time and recurring visitors. Tenants also have the power to open the building’s doors from anywhere.
Smartphone-based access control systems also benefit building managers because they won’t have to deal with intercom wiring or in-unit hardware. Also, cloud-based administration means that staff can make system changes and update access permissions even when they’re off-site.
Are you tired of drowning in seas of paperwork? Blockchain is a commercial real estate investment that applies technology trends that can help with that. Essentially, the blockchain is a way for you to store data securely. And because of the way blockchains work, nobody can alter or misrepresent that data.
This form of secure data storage helps store information like titles or deeds. Other blockchain innovations include smart contracts, which use a computer program to hold people to an agreement instead of a middleman.
The blockchain also allows you to tokenize properties so that an investor can purchase a token representing fractional ownership in that property. This democratizes real estate by lowering the barriers to entry while granting the entire market more flexibility.
GIG is positioned to become a global platform connecting users and suppliers. Soon, investors will readily invest in Real Estate, Enterprise Shares, Service Vouchers, Immigration Investment, Study Abroad, Labor Export, etc. with GIG Dollar. Whether users are in Vietnam or Thailand, our supplier is in Europe, and our partner remains the same. Subscribe to GIG Dollar to stay updated with the latest news on blockchain, cryptocurrency, digital asset investment, etc.
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