In the commercial real estate landscape, finding ways to enhance operations, increase ROI, and ensure buildings remain competitive are topics that are top of mind for building owners, building managers and developers. Decision makers continue to search for innovations that enable them to stay ahead of the market, and many have begun adopting PropTech across their portfolios.
But what is PropTech? What are the benefits of utilizing it? And how can you be sure your building is ready for what’s to come?
For years, digital transformation has driven a new wave of expectations in how people interact with the buildings they enter on a daily basis – compelling property owners to create a connected environment to meet these advancing needs. Technological innovation is improving the tenant experience through the use of sensors for managing systems, such as HVAC, and mobile applications for easy building access or connecting with in-building services. These types of ingenuity are examples of PropTech, which is driving the smart building phenomenon of today.
The full impact of the latest network roll-outs on PropTech is yet to be seen, but it will be significant.
Tenant comfort and experience are critical differentiators for building selection in commercial office buildings. Leasing decision makers continue to place an emphasis on choosing offices based on the level of technological proficiency owners have incorporated into its design – and will even pay higher rents to reap the benefits of strong connectivity. Tenants now look for buildings that have flexible community work areas, IoT devices and applications that enhance their journey throughout the space, and strong connectivity, enabling the way they choose to work.
With many IoT applications and devices in the building expanding connectivity requirements, building owners will look to future-proof their developments with new PropTech for the benefit of their tenants and in the ways they manage their assets. Among other benefits, a strong network offering will allow building owners to manage all of their equipment remotely in real-time. Rather than staffing each individual property, owners can oversee management systems with a remote team to monitor equipment across their entire portfolio of properties – thus reducing the total cost of ownership and yielding higher returns on the investments they make in the technological infrastructure they deploy. Businesses within the space will expect greater bandwidth with increased speeds and lower latency to enhance employee productivity by ensuring their devices are always connected, which building owners must solve for if they are to remain competitive.
The full impact of the latest network roll-outs on PropTech is yet to be seen, but it will be significant. Building readiness will depend on the level of connectivity and wireless infrastructure in place when it arrives.
As IoT deployments continue to rely on faster speeds, robust network solutions will allow data to be retrieved and analyzed in real-time to enhance the way buildings are managed and reduce operational costs. In order to best support the network, infrastructure will require the low latency and high bandwidth that only fiber cabling can deliver. Zinwave’s fiber-based design addresses this need. Through offering in-building cellular coverage for commercial cellular as well as public safety, our DAS ensures owners are able to provide a complete wireless ecosystem indoors. By implementing the proper connectivity infrastructure to support current and future PropTech, operational efficiency and tenant satisfaction can be maximized – setting the building ahead of the competition by solving for what most consider to be the fourth utility.
Incorporating PropTech is a proven recipe for success within real estate developments in order to enhance tenant experiences, improve occupancy rates and reduce an owner’s cost of operations. Building designs will increasingly include innovations to improve experience and efficiency, but whether the building is ready for the connectivity demands of PropTech investments depends on the wireless infrastructure they’ve put in place today.