Changing the Face of the Real Estate Industry through PropTech and CRE Management Systems
The industry of real estate is evolving to meet the ever changing ‘scape of technology integration. This has been happening over the past few years, but even more so after the pandemic. Technology and smart devices are becoming the norm for all applications. The use of this smart technology is known as proptech or property technology.
Property technology is the use of technology- mainly information tech, to assist people and companies to research, manage properties, sell, and purchase real estate. This is done through applications, integration of security technologies, control over entrance and exit points, and more. This is done through digital means and fully allows an individual or company to control all aspects of the property through a digital-scape.
Proptech and Real Estate
Proptech was at one time a luxury feature that was put in place on properties for a futuristic upgrade. Now these features are expected and if they are not there, it is a serious downgrade for potential clients or residents. Proptech includes many different types of equipment and technology. These can be cameras, motion activated lighting or timer lighting, gated access, alarm systems, and even controlled parking. These systems are able to really streamline systems and improve experiences for all involved.
These systems really took hold officially during the pandemic where social distancing and reduced in person interactions were suggested and oftentimes enforced. These helped with air quality and health. Now after the pandemic, property tech is able to do everything from better communication, and assistance with rent payments, maintenance requests and updates, and being able to do so with better efficiency and convenience. These proptech systems really are an improvement to things that often can be stressful or burdensome.
Benefits to Proptech
There are many reasons as to why the real estate industry has made technology in properties a must and that over 80 percent of tenants and property owners are exploring the integration of the technology. When surveyed, possible tenants said that when making a choice between properties, they took space, location, affordability, and luxuries into consideration. If two properties were similar in size, location, and budget, it was the bonus features that helped seal the deal.
Overall there are five top benefits to using Proptech. These are touchless technology, sustainability and increased efficiency, remote control, increased security, and better data collection and analysis.
Touchless technology has improved accessibility and convenience. These technologies include sensors, automatic doors or gates, automatic payments, license plate readers, and more. This can also include voice activated commands, and those that can be through a mobile app or key fob. Wireless control goes hand in hand with touchless technology and is often a feature of these devices or tools. By using a mobile app for example, tenants can make rent payments,validate parking for themselves or guests, and can also control access to the property. The fascinating thing with proptech, is that it has truly brought science fiction to a reality!
A major feature of proptech is the ability to increase security and safety. This is even more so in parking lots or parking areas where crimes can happen easily without security or prevention measures in place. With technology like smart parking tech, properties can have 24/7 surveillance and can also be used to contact law enforcement or integrated towing company software services if needed. Additional lighting and signage can also prevent crimes and create a welcoming and safe space.
For property owners, or the curious tenant, data collection can be done in real time with the ability to generate reports and charts. These can be done easily with the click of a button to show all the number jargon into easy to ready graphs and charts. This is especially useful for those that need to see usage of certain features, or violations for example insufficient payments or incorrect parking.
Proptech and Smart Parking
With all of these amazing features and benefits, it should come as no surprise that parking can also be included as a bonus item for property owners and tenants alike. With integration of equipment or tools that make parking easier and more efficient, smart parking offers a solution to many of parking’s issues. These can include finding a space, getting permitted parking for guests, allocating parking areas for tenants and/ or guests, and cashless payments when needed. Included with these benefits and features are also the ones mentioned above with increased security, touchless technology, increased efficiency, and remote building controls.
For more information on how these systems would work in your parking setting including proptech features, please reach out to a knowledgeable staff member of ParkingBadge. ParkingBadge is a premier parking technology company that has professional staff at the ready to help with any questions and assist in design and install of equipment and app use.
Interested in finding out more information about ParkingBadge’s innovative parking management and parking enforcement software? Please visit- https://parkingbadge.com/request-demo/
