The majority of commercial real estate (CRE) firms still rely on human data collection and confirmation to manage building temperature, layout, and maintenance schedules.
Until recently, smart office technology was only accessible to huge real estate corporations with millions of dollars in the bank. For most building owners and site managers, IoT has proven excessively difficult and expensive. Installing sensors to collect data is also expensive and time-consuming.
Smart Offices Accessible For All
PropTech technologies with smart, wireless sensors are revolutionizing the smart office sector today. PropTech that is both affordable and low-maintenance allows real estate organizations of all sizes to reap the benefits of IoT, including cost savings, better margins, and improved tenant relationships.
In addition to cost savings, forward-thinking real estate firms may provide tenants with a plethora of advanced smart office features and services, allowing them to fetch premium rents. Indeed, since tenants anticipate a smart experience, buildings without them may struggle to fill space and may be forced to cut their costs.
Let’s look at the quantitative and qualitative advantages that the next generation of PropTech can bring to smart offices.
Smart Building Maintenance
- Avoid unplanned and costly repairs
- Keep inventory stocked
- Optimize cleaning service
If building facilities managers know when critical equipment such as an HVAC system is about to fail, they can reduce unplanned and costly repairs, not to mention avoiding downtime and complaints from tenants. Smart sensors can measure and report on equipment usage, overheating, or unexpected changes so you can get ahead of problems before they happen.
In addition to behind-the-scenes maintenance improvements, smart buildings are also integrating sensors into services that are customer-facing. For example, sensors in supply rooms can let facilities managers know when inventory needs to be stocked. Sensors in office buildings allow smart cleaning services to be optimized and confirmed.
Energy Management with Smart Sensors
- Adjust lighting and temperatures
- Decrease building operation costs
- Support sustainability programs
With energy representing 19% of the total expenditures for the typical building, proactive, data-driven energy management can impact the bottom line. Smart sensors decrease building operation costs by automatically adjusting lighting, ventilation, and temperatures based on the number of occupants and building usage patterns. According to Energy Star, even a 10% decrease in energy use can lead to a 1.5% increase in net operating income, increasing a 200k square foot asset value by $500k. In addition, simply by varying ventilation levels based on the number of people in a room, occupancy detection sensors can decrease building operation costs by up to 18%.
In addition to cost savings, CREs and building managers look to sensor-driven smart office technology to meet increasingly strict energy regulations as part of a comprehensive sustainability program.
Occupancy Sensors For Office Space Utilization
- Configure layout based on occupancy and footpath sensing
- Plan office moves, remote work, and hot-desking strategies
- Book meeting rooms with push-button sensors
There are 12 billion square feet of commercial real estate in the US, but only 67% is utilized. In addition, changing work patterns are driving many companies to reevaluate their real estate footprint and adapt to lower demand for physical space.
Occupancy sensors can detect the locations, count, and movement of building occupants with extreme precision while maintaining individual privacy. Based on the data, smart CRE companies can reconfigure building layout or plan for changing demand. They can also help tenants make data-based decisions to adjust office layout, add or subtract meeting rooms, or implement hotdesking strategies.
In a smart retail environment, occupancy sensors can track footpaths, allowing store managers to adjust product placement, plan staff support for peak times, and make inventory adjustments to match customer demand.
Temperature Sensors for Tenant Well Being
- Keep tenants comfortable and healthy
- Reduce complaints and tenant turnover
- Improve workplace productivity
Keeping tenants comfortable is a top goal for smart buildings. Companies based in smart buildings find that workers are happier, healthier, and more productive. CRE companies also benefit from fewer tenant complaints and less tenant turnover.
Many customers use sensors to track temperature needs based on occupancy, time of day, and other variables. As a result, they report dramatic differences in their ability to meet customer expectations.
One hundred lightweight mini-sensors can be installed in just one hour. Wireless smart office technology with low power and long-range capabilities can be used even in large buildings without tapping into the tenant’s infrastructure. Unprecedented battery life allows you to “stick and forget” without the need for ongoing maintenance.
With streamlined technology, stack data from smart sensors can be easily integrated into building management systems and analytics software so that you can turn those insights into immediate action for a brilliant office environment.