Commercial real estate technology can be a powerful tool in increasing net operating income (NOI). The commercial real estate industry has been recovering from the financial crisis of 2008. Revenue growth is typically constrained. As a result, high profit yields are not guaranteed. Commercial real estate managers and operational directors who focus on cost reduction and tenant retention can generate superior profitability. Commercial real estate (CRE) properties include office buildings, multifamily apartments, and warehouses.
Commercial real estate technology includes Internet of Things (IOT) products and services that can address different operational inefficiencies and process improvements. IOT can analyze big data to optimize property management activities. This may include systems that can automate back office processes and human capital management. These commercial real estate technology systems can positively impact your NOI for multifamily apartments, warehouses, shopping centers, and office spaces.
Here are CRE management strategies that can decrease costs and improve NOI.
Equipment Scheduling Analysis
Are your HVAC units, boilers, chillers, and other critical equipment running at all hours or only when they need to be? In many CRE properties, at least one piece of critical equipment is running when it shouldn’t be. This practice wastes money and increases wear-and-tear on machines. CRE managers should analyze and manage equipment use for current occupancy rates to reduce inefficiencies.
Video Surveillance Services
Commercial real estate technology options have expanded with the growth of high resolution digital camera networks. Video surveillance capabilities have evolved with technological advancements. Traditional analog security cameras and CCTV networks are quickly being replaced by HD IP surveillance cameras and Internet networks.
IP surveillance cameras come in a variety of models, including dome cameras, box cameras, and PTZ (pan-tilt-zoom) cameras. Many of these security cameras are built for both day and night surveillance.
Despite the advancements, IP security cameras do little to deter or prevent criminal activity on their own. At best, surveillance cameras can record video of criminal activity for local police to use as evidence. However, adverse weather and lighting conditions and camera location and angle may impact the quality of the surveillance video. Criminals can make the security video useless by cutting electricity, damaging the camera, or stealing the NVR or DVR.
Remote Video Monitoring
Live remote video monitoring compensates for these shortcomings and can boost your NOI by decreasing security guard costs. Additionally, it can help decrease vacancy rates and tenant turnover by driving away unwanted site activity. Trained operators watch cameras in real time from a control center. Paired with video analytics and established protocols, this smart commercial real estate technology can help CRE companies reduce loss, property damage, and liability at their properties to increase net profit.
Stealth Monitoring is the leader in remote video surveillance in Canada and the U.S, with over 400 employees, 11 offices, and 3 live video monitoring control centers. Stealth’s proactive video monitoring watches over 17,000 IP and CCTV security cameras. Our security solutions feature advanced technology and can detect and deter crime while reducing security guard and other expenses. Our remote monitoring service can reduce or even replace security guards at a fraction of the cost. A remote surveillance operator can see suspicious activity, activate a speaker warning, and call the local police.
Please call toll-free (855) STEALTH or contact us today for more information to protect your outdoor assets. Visit the Stealth website to see real arrest videos at construction sites, multifamily apartments, shopping centers, office buildings, warehouses, auto dealerships, and other commercial real estate properties.