Like all UK industries, property is impacted by COVID-19 and the effect of the lockdown on the way it works. But despite this ‘new normal’, we cannot ignore our sector’s other key issues. The use of building technology is changing the way we live. In the last decade we have seen a revolution in technology; in particular the way in which data influences our daily lives. It is increasingly being used by stakeholders across the property sector to inform decision-making and digitise both information flow and transactional business.
In response, today the Institute of Residential Property Management (IRPM) publishes the second part of its 2020 Tech Insight programme. Making the right connections: the impact of technology on building management is a white paper highlighting the key issues raised by the impact of technology on the way our buildings are built and managed. From building management systems to resident portals and from repair reporting to the internet of things, there is a myriad of ways in which technology can be used to improve the pace and quality of service delivery.
The IRPM brought together a group of leading industry experts to discuss the impact of data and advances in building technology on the management of residential blocks. The white paper captures this conversation, highlighting the technological challenges for the sector and sets out next steps for the property management profession.
Key points are that:
- Assets that are digitised will yield higher values.
- A cultural shift is needed if the property management sector is to reap the benefits of digitisation – and in turn deliver value for residents.
- If property managers can effectively harness the data they hold and use it to drive innovative customer-facing products, in future this will act as a differentiator between technical competence and technical excellence.
To address these challenges, the paper pinpoints the need for:
- A platform for tech and software providers to communicate with the property industry.
- Cross-industry collaboration to determine what is needed by operators and occupiers and avoid development of unsuitable and ineffective solutions.
- Government intervention to unleash the potential of this market segment.
Launching the White Paper today, Andrew Bulmer, CEO of IRPM said: “These discussions and white papers are pivotal to start the conversation around the ways in which technology is already impacting our residential buildings and will change the way they are built and managed in the years to come.”