Implementing tech into CRE’s multifamily sector has stood as a major transformation point for the industry. Although this facet of commercial reality has been one of the slowest to adopt new technologies, it has finally begun to engage in the perks of today’s digital tools - and the benefits are astounding.
Tech is helping improve multifamily assets in every dimension, from management to maintenance. Big data, IoT, and other contemporary technologies are quickly revolutionizing CRE’s multifamily sector; helping building managers and investors to better care for these large properties.
Here are 4 ways that today’s hottest technologies are changing the game for the multifamily industry.
Insight into Maintenance
Data is everywhere. In the case of multifamily buildings, this data acts as the key to improvements in the future. With the use of IoT smart sensors, this information can be collected and evaluated to reference later on down the line.
When an IoT smart sensor is connected to a building, anything wrong will be detected almost instantly. Most big problems start small, and finding out about it early is the best way to save time, stress, and money. Tech sensors allow the problem to be caught before it escalates. This intuitive system also hones in on the specific area, meaning less time wasted looking for the source.
The Power of Intuitive Repairs
In multifamily buildings, frequent repairs are necessary in order to keep everything running smoothly. Since commercial assets regularly hold large numbers of tenants, occupancy is an important factor to monitor.
However, it’s something that is difficult to track without technology. With the help of IoT sensors, foot traffic within a specific area can be monitored. This helps building managers learn the places that are most popular with residents so that upgrades and renovations can be made in the most valuable locations.
Access to Temporary E-Keys
When working in a large building, walking around can quickly become a huge waste of time. A common pain point felt by nearly all building employees is the time spent going from office to unit in order to retrieve the keys. This makes accessing a unit for repairs or inspections very time consuming, which strongly reduces productivity rates.
As always, tech has the answer. Smart locks have the power to automatically generate an electronic key that only provides access for a set amount of time. This way, team members can quickly and effortlessly enter units, do the required work, and have the e-key expire - offering tenants more security.
Automated Security Systems
Safety is the number one motivator to implement smart technologies into living spaces. Today’s automated security systems are more effective than ever before, and also easier to use. IoT-powered smart systems are cloud-based, so there is no need for a complex and costly setup. These systems monitor the premises full time, so there is no need to worry about anything going undetected. When it comes to safety, smart systems reign supreme.
How has technology improved your multifamily experience? To explore more ways that tech and big data are revolutionizing CRE, check out our blog.