The Future of Real Estate Management Software

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As a technical property manager, it is imperative for you to be informed and stay on top of all the news in the industry. By ensuring that you are ahead of the curve in terms of market changes and digital innovations, you help your business thrive and maintain its profitability. That is why we have selected the most important things to look out for in the upcoming period, specifically in real estate management software. The topics covered will include the use of BIM modeling, the rising popularity of smart buildings, transformations in automation, communication, and integration of platforms.

 

 

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BIM Software

Building Information Modeling (BIM) is a collaborative software solution that has seen a rise in popularity and is projected to go even further. BIM allows stakeholders, architects, engineers, and construction workers access to the same project, its visual representation, and available data. As everyone included in the process now has an overview of the workflow, communication is brought to a higher level, increasing the quality and pace of all operations. Furthermore, BIM software uses predictive data analysis, which can signal before a potential issue arises, ensuring prevention.

In real estate management, BIM can be a powerful tool for visualization, planning, and scheduling any necessary maintenance and cosmetic improvements. With advanced cameras and laser scanners, a virtual duplicate of the property is created and easily transferable between parties. For example, a manager can foresee an electrical issue through the MRI scan of the wiring and share the detailed image and data with an appropriate servicer. Before intervening, however, it is possible to go through the procedure on the digital twin of the exemplified room – now, information about every step of the process and its cost and duration is available to the property manager, reducing the amount of time and energy required for such a task.

 

Smart buildings

Smart buildings, also known as intelligent buildings, are part of the plan to develop a smart city infrastructure through a network of IoT hardware mechanisms. They function on the basis of sensors and microchips, which gather information, analyze it, and forward it to a supervising entity. In the case of technical property management, that would be the property manager themselves. The end goal is to achieve centralized control over different aspects in order to improve the safety and quality of life of the building’s inhabitants. For example, some commodities that can be automated are heating, air conditioning, ventilation, and lighting. By turning these off, or at least decreasing their capacity while a room is not being used, both costs and energy consumption are reduced, and without the need for human effort.

 

Another option that alleviates the manager’s plate of duties is preventive maintenance. If a sensor is installed and connected to software in, say, an elevator, an issue report will be sent to the appropriate party before the malfunction even occurs. A technical property manager who has access to this software can then take action before the tenants’ safety and comfort have been inhibited in any way. Similarly, this system of warnings can be applied to fire alarms and security cameras set up to detect unusual activity. A considerable benefit to smart buildings and their detectors is that any action can be taken remotely. In the new era of technology, a manager is no longer obligated to frequent all their properties multiple times and be present in person to complete all duties. With technical management software solutions, the contentment and satisfaction of tenants and managers alike are taken to the cloud.

 

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Communication 

An integral aspect of solidifying a firm and prosperous relationship with a client is communication, and the same is true for tenant–property manager associations. Therefore, a major key to success lies in opening and maintaining a reliable channel through which all messages can safely be transferred and addressed with no redundancies in time and energy dispersion. The manager can follow all questions, complaints, suggestions, and issue reports in real time by using technical property management software with an integrated correspondence system, such as Facilitee.

Additionally, digitizing communications also helps to streamline them. Typically, too many parties are involved in a process, such as for example, handling a leaky heater. It is far more convenient for each participant to be in a network held together by software, which keeps the managers and handymen acquainted with the building inhabitants’ requests, while, on the other end, they can keep track of how their complaints are being addressed.

 

Integration and partnerships

Currently, the market holds an open position for a unified, all-encompassing software solution. Real estate management companies and owners are progressively more frequently opting to combine interchangeable operating systems in order to build their ultimate suite. The future of technical real estate management is finding an optimal program that will include all the necessities and simplify day-to-day activities cost-effectively and time-efficiently.

 

Conclusion

To summarize, this article deals with trends and innovations in the technical real estate management industry and the application of software solutions. Building Information Modeling (BIM) allows managers and other relevant parties access to data and its visualizations regarding every layer of a building, providing them with what is essentially an MRI scan of the structure. Smart buildings and smart infrastructure in general, have seen a rise in popularity due to their convenience and ability to positively affect energy consumption while increasing quality of life and tenant safety and comfort through a network of sensors and microchips connected to one central control device.

 

Through the usage of management software and apps, communication with renters and handymen is made easier and more streamlined. As these systems are becoming more and more integrated, and new partnerships arise between property owners/managers and software developers in a conjoined attempt to bring their businesses into the future, the next step will be to unify all operative gears into an optimal and universal software solution.

 

Facilitee is a technical real estate software with a mission to lift some of the stress of the property manager’s shoulders and raise client satisfaction. If you feel ready to step into the future of the industry, book a demo today.

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