How to Use PropTech, Video Analytics and IoT for Property Management

231 views 2019-12-10 16:58:53

PropTech (Property Technology) is one of the new emerging trends in the real estate industry as well as the digital space. Numerous investors and organisations believe this phenomenon has the potential to give rise to a myriad of benefits. Thus, funding for this sector has increased in recent years. Early adopters, including property management specialists, regard proptech and IoT as genuine disruptors that will revolutionise the real estate industry.

PropTech’s promise is to close the gaps in real estate, involving logistics like time maximisation, asset management, reimagining jobs in real estate, and everything in between. Although a number of property management specialists appreciate the benefits of PropTech and IoT solutions, some of them don’t stop to think about how such technology could be implemented more comprehensively. For instance, in current buildings, they could be used to enhance the way buildings are maintained and managed. This will help managers discover and proactively handle property issues, thereby increasing productivity and reliability.

Enhancing Building Security and Safety

Upholding building safety standards is a primary concern for property management admins. A great deal of proptech and IoT advancements have been designed to enhance safety levels and enable powerful security systems. For example, a number of properties utilise CCTVs for monitoring building activities, incident management, and identifying threats. If property management specialists decide to improve upon the existing video monitoring equipment by adding the use of video analytics and IoT, they can expand their security features.

One of the benefits of Video Content Analytics is that it significantly reduces the risks of human error and distractions. This enables property management personnel to set up IoT alerts to launch calls to action for questionable behaviour, like people entering restricted areas or trying to make their way into the premises via back doors. It is also useful in the investigation of issues that have previously taken place, by searching video files for data and determining the identity of potential culprits who were caught on camera.

Utilising Smart Sensors for Energy Efficiency

By utilising smart, connected technologies which can be controlled from a single location, it is possible to lower your property management and utility expenses and make more efficient use of energy via IoT technologies. You can obtain insights on your building’s energy usage by leveraging the data from installed sensors.

Such data can also be utilised by property owners to support forecasts and to identify trends involving building occupancy levels, the weather conditions, daylight hours and to configure your lighting and HVAC infrastructure based on insights on when they’re typically needed and used.

Enhancing Living Conditions, Cleanliness and Comfort

When property management admins make full use of the building data, IoT, and property and a property service platform, they’re able to roll out efficient and punctual maintenance of their properties. Being able to identify popular pathways enables property managers to facilitate regular cleaning of areas with high levels of foot traffic. By collecting and analysing such data over a period of time, property owners can identify usage trends throughout their properties and preemptively deploy maintenance and cleaning personnel to meet the needs involved in such patterns and trends.

Video Content Analytics systems, which are a type of smart sensor, usually provide an alert feature. For example, alerts can be set to go off whenever a particular quantity of people have been recorded entered the premises. In this manner, the property manager is able to ensure that such high-traffic areas are cleaned and maintained promptly.

Utilising Video Analytics to Identify and Optimise Building Traffic Flows

Video analytics technologies for property management are a type of IoT solution that can be utilised to optimise the flow of traffic within a property. Video analytics software changes unstructured video data into searchable and usable assets, thereby making it possible to visualise the data. This will give you a clearer understanding of the most frequently used pathways in your property, bottlenecks, common points of entry and exit, underutilised areas and the reasons for such.

Property management specialists can use these IoT insights to formulate an informed approach to selling, renting out and using property space, making decisions based on IoT-powered intelligence, and facilitating efficiency in operations. Such intelligence can be derived from data collected by smart sensors in the parking areas of the property, allowing the building manager to preemptively make preparations for higher levels of traffic when the sensors report that the parking spaces are being filled up.



Related Resources

Video meets the Internet of Things

How the IoT is Affecting Property Management

Smart Home Technology and IoT in Multifamily

What is PropTech?


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