The IoT technology is well-poised to revolutionize a wide range of industries – a list on which property management sits at the top. In fact, 43% of the US-based property managers believe that IoT will significantly influence their management of buildings in the future.
In the commercial real estate industry (CRE), security is a major issue for both the building owners and tenants. Solutions like the Shield Management System open up a variety of opportunities.
Wireless sensors allow property managers to provide virtual guard services to their tenants. Managers and tenants can connect their sensors to an app and customize security. For instance, if the tenant works from 9 am to 5:30 pm on weekdays, they can set the sensors to turn on during this period. If any suspicious activity is detected, an alert will be sent to the property manager and tenant. This way, break-ins can be minimized.
Another area where IoT can make a difference is efficiency. According to the Johnson Controls survey, 70% of building owners believe that the ability to predict and diagnose problems will turn out to be a game-changer. Buildings owners can use IoT to automate tasks, such as the functioning of elevators.
Similarly, an IoT-powered heater can help property owners monitor how long their heater runs throughout the day. They can use these findings to optimize the water temperature and provide hot water only when their tenants need it. This is especially useful for tenants when they stay away from homes as the heater would adjust accordingly and reduce their water bills.
For property owners, automated lighting leads to massive savings in the management of multifamily buildings. Tenants feel safer and more welcome in a well-lit building and, with a smart system like Shield’s Management System, you don’t have to keep the lights on all night.
Lawn care is also one of the areas where IoT could turn out to be handy. Lawn care is a costly headache for property managers. Prospective tenants dislike unkempt laws, but their maintenance is time-consuming for the landlords. IoT lets you automate your lawn care. When it rains, sensors can prevent you from watering unnecessarily. Similarly, automated mowers can keep it well-trimmed regularly. This way, you can reduce your gardening costs and attract more tenants.
Final Thoughts
IoT and smart homes are the future. The only question for property managers is whether they will become one of the early movers or race to catch up in the future. Tantiv4’s Shield Management System can save plenty of time and tons of money for property managers. Read about it in detail.