The ever-changing world of technology continues to disrupt many industries as it grows and develops. The most recent development sees technology tackle property management to try and make it more efficient and relevant. Current property management methods are viewed as old-fashioned and outdated. Therefore, the hope is that technology will change property management for the better.
With this in mind, here are some key technological advances to look out for:
• Machine Learning
Machine learning is already a driving force across many sectors, even if the general public don’t realise it. From retail to education, machine learning is changing the way we do things. When it comes to property management, building managers, owners, engineers and architects are all expected to adopt the machine learning approach to sift through data and find insights into market trends.
Drones are transforming traditional property management techniques as we know it. How? Well, they’re being used by chartered surveyors Manchester and beyond to scour buildings from a birdseye view. Not only can this help when determine the value of a property, but this method of aerial surveillance can also allow for better security on large complexes.
Though it’s still relatively unknown, blockchain is revolutionising investor relations. This platform has opened up new markets to investors who may not previously have had access to properties. It will mean that investing will take place in a completely different way, cutting time and costs on both sides.
• Virtual Reality
Virtual reality can help technicians and other property vendors when it comes to repairs and maintenance on a building. In future, AR goggles may be used by maintenance workers to evaluate the building without even needing to be there. This will save time and money in the long run.
Robotics are set to change commercial property management for the better. It’s a technology that’s already been implemented across the industrial, medical and agricultural industries with much proven success. Robotics will help when it comes to construction, replacing workers when there’s a labour shortage or even taking the place of construction workers in the long term.
• Eco Energy Sources
This year in particular, many businesses want to be seen as being as environmentally friendly as possible. Localised energy sources are a hot topic for 2019 as they can reduce waste and carbon dioxide emissions. This will give owners and incentive to invest in more eco-friendly buildings with solar panels and other natural sources of renewable energy.