The real estate industry will face some major challenges in the next years. Following the energy transition, combined with governmental regulations, housing associations and other organizations are forced to achieve sustainability goals at an accelerated pace. In order to achieve these goals, it is crucial to have clear insights into the potential risks and opportunities of your real estate portfolio. That’s where digital property management comes in.
Data is a crucial component when it comes to property management. Incorrect- or outdated data can cause problems such as wrongly planned and timed renovation work or bad investments. In other words, the lack of insights in real estate portfolios can lead to high, unwanted costs. In order to facilitate data-driven property management, it is crucial to have up-to-date and reliable data in one place.
What is digital property management?
Digital property management helps you inspect and manage your real estate portfolio remotely. With the push of a button, you can easily view and analyze every aspect of your real estate portfolio. This makes it easy to for example properly plan maintenance work or assess risks within your portfolio.
Besides that, digital property management helps to improve operational processes. Maintenance partners and suppliers can prepare their work beforehand remotely (without on-site visits) and the decision making process on where to plan maintenance is easier, because there’s more reliable information available.
Finally, digital property management saves a lot of admin time through quick reporting functionality. It allows quick insight into specific real estate characteristics. Suppose you want to find out which homes in your portfolio are most suitable for installing solar panels. By applying a simple filter, you will receive direct insights into the homes in your real estate portfolio that are most suitable. Convenient, right?
The advantages of digital property management
Digital property management has many advantages that, for example, lead to the reduction of maintenance costs or the optimization of operational processes and maintenance schedules. The first advantage is that all most recent images and relevant environmental features of your property portfolio are accessible in one place. The second advantage is that you’re able to gain insights with smart risk analyses. Last but not least, you can receive very specific measurements of building elements with a digital condition scan.
1. All property data of your real estate portfolio in one place
When working with digital property management, you benefit from more data and optimal visual insights into your real estate portfolio. Through images from various sources like street view, satellite, aircrafts and drones, you can see all angles of you properties. These images are also easy to complement by uploading photos from on-site inspections or photos made by tenants. With digital property management, you have all data, images and maps in one place, meaning you’re always working with a more accurate and up-to-date dataset, without spending too much resources on on-site visits.
2. Smart risk analyses with automated detection of building elements
Digital property management allows you to apply the most recent techniques on your portfolio, such as automatic image recognition. With this technique, property elements are analyzed and categorized in different element categories and quantities, resulting in a complete overview of basic property portfolio information.
This overview is the basis for risk assessments or investment analyses in the property portfolio, based on your strategic priorities. For example: looking for houses to place solar panels? One easy filter query will help you prioritize. Besides that, you can easily place various maps, such as heat island or land registry maps over your estate map.
3. Perform highly accurate measurements remotely
Finally, digital property management allows you to perform detailed and accurate measurements remotely, for example: measuring exact quantities for painting. This helps you validate specific maintenance estimates or even prepare an entire maintenance budget for years ahead. Since the entire process is digital, you can easily export this data with elements and quantities to other software systems, helping external maintenance partners prepare their work as well.
How Spotr is helping housing associations, insurers, banks and local government with digital property management
Spotr is an AI-driven one-stop-shop for remotely analyzing property data. We provide you with an up-to-date image database of your real estate portfolio. You’ll be able to reduce site visits by having remote access to the most recent building images from different angles.
With our automatic image recognition of building elements and measurements, you are able to easily spot anomalies in your real estate portfolio and filter on individual elements such as doors, solar panels, balconies, and frames.
We detect a total of 80 objects on a property’s facade, roof, surroundings and its interior. With Spotr you can easily filter properties on specific characteristics, risks, state of maintenance, and sustainability opportunities. Through Spotr Experts we also provide specific measurements with 95% accuracy, real time valuations, condition surveys and investment plans.
Are you ready to overcome property data issues and start working with digital property management? Request a demo to find out more.