Traditional property management has been transforming. Over the last two decades, we have witnessed an evolution towards more digital property management, and the pace at which this evolution is happening is accelerating.
The real estate sector is finding new ways and innovative technologies to better operate and optimise buildings and assets throughout their lifespan – a process which began back in the early 2000s.
That is when we started to see digital integration through early property management software and online property listings. In the 2010s, with the advent of cloud computing, mobile applications and smart building technologies, this evolved further still.
But it wasn’t until post-pandemic that we saw witnessed a step-change towards digital property management.
The pandemic was the driving force behind this, accelerating the need for remote and contactless property management solutions, such as virtual tours, online rent payments, and automated maintenance scheduling.
Today, data-driven property management through the use of AI, machine learning and analytics tools and software is a necessity as opposed to a desire – not only to predict maintenance needs and optimise energy use, but to enhance tenant satisfaction too.
But alongside new technologies must come people with the skills necessary to work with it, and this is resulting in a complete redefinition of the property asset manager role, as Head of Property Asset Management, Carl Grint, explores.
The importance of tech-enabled property teams
A multi-let property has many data points, and with the advent of more data comes a requirement to interpret and manage this data, to make the most of opportunities for the building and its maintenance and energy efficiency, but also for its owners and their tenants too.
At Vail Williams, we have been embracing the paradigm shift towards digital portfolio management, to ensure we offer tech-enabled solutions to our clients.
This has redefined property asset management and has allowed us to build in transformative asset insights and intelligence into our portfolio operation and maintenance.
By leveraging platforms such as MRI Horizon, Elogs, Tenant Portal, and MRI Energy, our clients are already benefitting from advanced technology built for seamless interoperability, operational efficiency, and enhanced decision-making.
Our adoption of MRI Horizon allows for real-time portfolio management with tailored insights, while Elogs supports compliance and monitoring with an unparalleled level of detail.
The Tenant Portal bridges communication gaps between landlords and occupiers, fostering trust and improving tenant satisfaction. Meanwhile, MRI Energy ensures proactive energy management, critical for meeting ESG (Environmental, Social, and Governance) goals.
To leverage this technology, a new generation of property asset manager is required.
Enter the Digital Property Asset Manager
An emerging role designed to use building data to make the operation more efficient, more predictable and future-proofed, our Digital Property Asset Managers transcend the limitations of traditional property management.
They integrate innovative tools that provide a single source of truth for all asset-related data, with clear communication and transparency, to deliver a heightened service for clients.
This approach fosters absolute transparency, enabling our clients to trust in the accuracy and reliability of the information underpinning their property / investment decisions.
