Magazine article Journal of Property Management

Create Technology-Enabled Value

Magazine article Journal of Property Management

Create Technology-Enabled Value

Article excerpt

Progressive real estate professionals are leveraging technology to redefine everything from operations to the tenant experience. They recognize that a technology-enabled business strategy fundamentally changes the rules of competition in our industry. Rather than allowing competitors to define those new rules, they are taking the lead. To meet the challenges of maximizing income, owner value and tenant satisfaction, they are innovating solutions that include:

* Internet-connected networks that give real-time, round-the-clock diagnostics and detailed views of every system throughout their buildings or campuses-from HVAC and lighting to security, visual monitoring and landscape irrigation-enabling them to optimize performance and anticipate problems before systems fail.

* Two-way wireless communication with field service workers-including global positioning system capabilities-that shortens response and repair times and permits sharing of work orders, service history and more in real-time using devices such as RIM pagers, Web-enabled cell phones and other handheld options.

* Web-based applications that enable tenants to request maintenance, pay rent online and perform other self-service applications.

* Interoperable Web services including property management accounting, job costing, investment analysis, online payment processing, work order management, energy tracking, legal compliance reporting and commercial recovery calculation.

* Stored value cards that operate shared equipment (e. …

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