How Does IoT and Other Tech Make Managing Buildings Easier?
The IoT and other technologies have now made their way into the commercial real estate sector by bringing property efficiency up to speed with predictive maintenance and other actions within commercial real estate property. Let’s take a look at a few ways IoT and other technology makes managing buildings easier.
Automation Satisfies Tenant Needs
The IoT collects data and with this can help alleviate tenant pain points. One of the most complained about items is always the temperature in the space. It is time-consuming and tedious to handle the numerous requests for temperature adjustments within a property. Not only does it make it difficult for tenants to feel comfortable in their space if their temperature is not suited to their liking, but property managers have to manage and fix these issues. IoT offers a solution by strategically placing temperature sensors throughout a property and then monitoring changes from a standard temperature along with patterns in occupancy.
IoT Can Catch Issues Before they Become Real Problems
The IoT can identify problem areas utilizing highly granular data that can take issues off the hands of maintenance professionals. Rather than having someone continue to check the roof for leaks, the IoT-enabled buildings Disruptive Technologies would use a moisture sensor on the roof and be able to direct the right repair as soon as or even before the roof ever leaks.
This type of directional data can make managing and maintaining properties highly effective without the need for strenuous work put in by property management teams. According to a survey by Johnson Controls, 70 percent of respondents believe that the ability to predict and diagnose problems using data from the IoT will be a game changer.
These sensors employed by the IoT will keep energy prices down since they will monitor changes in temperature and thus can give property managers more control over the cooling and heating bills. As the IoT grows in the future, devices will learn to work with each other to establish “smart” properties. This can allow property managers, landlords and CRE companies a clear value to tenants. The IoT will help cut the costs of energy, spatial management, and building maintenance by up to 30 percent.
Security is a priority for both building owners and tenants. The IoT offers comprehensive solutions using wireless sensors to allow owners and managers to establish virtual guards. These sensors can be programmed by managers or tenants through an app that will customize security. This type of early alarm system can help avoid break-ins and keep tenants safe during both peak hours and off hours.
According to GE, forty-three percent of building managers in the U.S. believe that the IoT will largely affect how buildings are operated in the next few years. With the IoT, property managers and owners can adapt to a tenants’ needs and it can help “future proof” their property by monitoring habits to help them stay on top of trends.