These days, technology is working its way into nearly every industry. From call centers to the service industry, more and more aspects are becoming automated. Real estate is no exception to this growing technological trend.
This article will dive into smart buildings and the benefits of incorporating them into your commercial real estate portfolio.
What Are Smart Buildings?
When we use the word smart in terms of technology, we usually mean something is connected to our devices. This allows for remote connection and the exchange of data. We have smartwatches, smartphones, and even smart security systems for houses.
Smart buildings, then, refer to any structure that allows someone to make informed decisions on that building based on fetched data. This data is collected and organized via the Internet of Things (IoT). IoT applications allow controls and sensors to live in an application based on the web. From that application, the equipment can be manipulated, regulated, and controlled.
Why Integrate Smart Buildings into a Commercial Real Estate Portfolio?
The benefits of integrating smart buildings into your commercial real estate properties are both far-reaching and almost immediate. A few of the most common ones are to optimize energy use, comfort, and security. By maximizing energy efficiency, smart systems help to reduce costs. The value of a property is also raised, and the risk of equipment failure is reduced.
1. Energy Efficiency
A property owner or manager can pre-set heating, ventilation, and air-conditioning (HVAC) settings to have the property at the perfect desired temperatures as and when guests need it. This is not only environmentally friendly but also delivers measurable ROI.
2. Enhanced Security
Another great advantage of integrating smart buildings is 24/7 security. Tenants will feel more comfortable and secure with an intelligent system that locks and unlocks via a smart application. This also alleviates the need for security personnel as the gates and locks will be automated.
3. Better Customer Satisfaction
Some other systems include lighting, carbon monoxide, water, and humidity detectors. Smart systems can be tailored to the tenants’ requests and result in a better overall customer experience. For example, smart buildings are useful if a tenant wants to control the lighting settings or HVAC in their unit from their phone.
Consult with Us
MKS&H’s advisors are ready to be of service to you if you’re a commercial real estate investor. We offer financial statements and tax return preparation, tax consulting, and transactional services, and more. Contact us today for more information.