61% of real estate businesses use one or more  technology tools to conduct operations. Additionally, 69% consider technology to be a high-priority, strategic plan. 

No wonder the real estate industry is adopting tech at a high rate. However, not all businesses are able to leverage technology to improve productivity or efficiency. 

The problem lies in the use of several fragmented tools to manage properties. You can have a CRM, property management software, and accounting tool that doesn’t talk to each other. As a result, you aren’t able to create a single source of truth. Let’s explore why you should bring all your property data under one roof to get the best returns from your proptech investments. 

Property managers have always been worried about high energy costs. The cause for concern is justified, as commercial buildings consume 35% of the USA’s total electricity. In addition, they produce 826 million metric tons of carbon dioxide emissions. 

Real estate agencies nowadays use sensors to monitor energy consumptions and the systems of a building. However, the data collected by sensors don’t always reach property managers. Instead, they sit with the vendors due to the fragmented nature of the industry. It is possible to reduce energy consumption and emissions by connecting your sensors to a WiFi-enabled smart thermostat. However, you will need to ensure the free flow of data between the systems to achieve your task. 

As a result, unifying data is the first step towards sustainability and cutting costs. 

The need for safe working or residential environment is a high priority today. People are now more cautious about their health, especially since the pandemic. 

Technology plays a big role in bringing about a safe environment for your occupants. However, you need to know which path to take to attain the best outcome. 

The way ahead is to integrate data from disparate sources. You will then be able to use a data analysis tool to spot patterns and trends. 

Additionally, it will allow you to leverage the power of analytics and form deep insights. As a result, you will make more informed decisions and gain a competitive edge in the market. Moreover, research shows 66% of people account for sustainability while buying something. Therefore, you can even experience an increase in leads and sales. 

Understanding the value of your property is a crucial part of a real estate business. However, you have to take into account several factors to predict any property’s value. The list includes a broad range of items, from your capital to buildings. 

The task can get pretty challenging and lead to inaccurate forecasts. Surely, that is something every realtor wants to avoid. Today, many real estate agencies use software to predict the value of a property. These tools analyze data and use machine learning algorithms to predict accurately. 

However, that is only possible when you supply your software with complete data. That includes existing data on your capital, revenues, buildings, expenses, and lease pipeline. You need to integrate all data and supply it to your software to make accurate predictions. 

As noted above, many real estate agencies use a range of disconnected tools. As a result, they have to deal with a huge volume of disparate data that have no use. 

Therefore, you have to involve manual labor to make use of the data. Let’s say you have expense management software for your buildings. In addition, you use another accounting tool to maintain your books. 

Now, you have to enter data manually from one tool to another one to achieve interoperability. That wastes several productive hours and keeps your employees busy.  However, it is possible to integrate all such tools to unify data. You can try several ways like APIs or an integration platform to bring all your apps together. 

The process will help you have a single source of truth and give access to real-time data. Additionally, 80% of companies agree data integration is essential for existing operations. So, you may even be able to improve operational efficiency. 

Maintenance often becomes a headache for property managers. You have to keep an eye on several building components like HVAC and plumbing. Thankfully, technology is here to ease a part of the process and monitor your systems automatically.  

You can now use sensors to monitor the health of your systems like HVAC. Likewise, you can use sensors for different building components and processes, like measuring indoor air quality. Now, the different sets of data are not very useful by themselves. However, you can combine them to form a single database and improve your maintenance. How is that possible? 

You will be able to monitor every aspect of your building from a single interface. Additionally, you can leverage real-time data from different sensors along with historic data. As a result, you can gain a deeper understanding of how your buildings perform and when they can break down. This will lead to proactive maintenance and reduction of costs in the long run. 

Real estate agencies can take different approaches to create a single source of truth. Assetsoft can be your guide and help you unify your data and technologies. We can assist you in choosing the right tools for your business and even implement everything. 

Additionally, we can help you make the most of proptech and take advantage of automation, IoT, and more. We can play a significant role in your digital transformation and take your business to a new level. Contact us today to know more about our services. You can also give us a call to discuss your requirements. 

Property tours cost property managers a lot of time. You have to be present on the spot for each potential customer and dedicate slots to show around. Things can turn complex and even go out of hand if you give tours to twenty customers across the town in a day. Now Zenplace has come up with a solution for the problem. They have developed a robot with a tablet that can hover around your rental space and give a thorough tour. 

The tablet shows a live agent who takes on customer queries and provides insights. Property managers can use one robot for each location and an app to sign up customers for tours. However, the only drawback is the robot cannot climb stairs yet! 

Big real estate management companies have a team of representatives for serving customers. They also pay employees who book showings, answer customer queries and provide the correct information. Naturally, the firms waste countless hours that can be spent turning leads into customers. 

Gabbi, a virtual assistant, can come to the rescue in such situations. It is an AI-assisted real estate agent that can respond to customers, book showings, and even nurture your leads. 

Best of all, Gabbi can act like a chatbot and provide complex and accurate information. You don’t need to employ a person to attend to tasks.  Therefore, you can entertain your clients 24/7 and engage buyers and tenants without any break. According to Gartner, 72% of organizations will use robotic process automation techniques in the coming two years. 

Tenant management is another time-consuming process filled with manual tasks. From filing new applications to approving them, a lot of workflows lie in between. 

Thankfully, robots can come in handy and help you manage your tenants like a pro. You can rely on platforms like  UiPath  that offers a range of robots for business process automation. Best of all, you can make the robots learn new things and acquire fresh skills. As a result, you can out them to work for most operations in real estate and property management. 

A top responsibility of property managers is to keep tenants and potential customers updated. They have to share market insights, prices, and more to attract and engage customers. Additionally, they have to create content for emails, social media, and websites. 

Humans are not designed for repetitive tasks. They need breaks, make mistakes, and often mess up the outcome of intricate tasks. However, a robot is free from such drawbacks and can work round the clock. RiTa is such an AI-powered assistant that become a property manager’s best friend. 

Assetsoft is the right partner you need to automate your real estate business processes. We have top experts with years of experience to make the most robots like UiPath. Our team can also provide cutting-edge technology and tailor each solution to meet your business needs. 

Property managers can also rely on us for sound consultation, no matter how complex the problem is. We can deliver the best robotic process automation and help you save costs, time, and labor. Get in touch with us to tell us your requirements. We can help you eliminate manual labor and leverage automation to the fullest to achieve your business objectives. 

Want to use robots for your property management business? Talk to the Assetsoft team. With Robotic Process Automation, you can achieve your automation goals while increasing productivity. Analyze your needs today and implement AI-based robots for all those small things - like sending emails or scheduling reminders. Explore the possibilities with the Assetsoft team! 

With the pandemic waning, most of Canada’s provinces have reopened using a step-by-step approach. For the country’s hospitality industry, this means more people, tourism, and revenue.  

Last year, the hospitality industry was one of the hardest-hit sectors due to the pandemic. The hotel occupancy rates plummeted to an all-time low in April 2020, with 81.2% of the hotels being vacant. Now, the industry is already seeing a gradual recovery, with Toronto hotels having a 43% occupancy rate in July. 

Adding to it, the Canadian government has introduced new measures which allow more tourists into the country. With these guidelines, more international tourists are willing to visit Canada for business and leisure. What does this mean for the Canadian hospitality industry? Read on to find out. 

According to CBRE, a commercial real estate company, hotel occupancies across major Canadian cities will range from 31% to 37% this year. Though these rates are far from pre-pandemic times, they are showing a gradual increase when compared to the rates in 2020.  

The Covid-19 pandemic disrupted multifamily fundamentals in unprecedented ways. While the industry made several short-term changes, the impact of the pandemic isn’t limited to a certain time. According to The Business Research Company, the global real estate market is expected to grow to $4.6 trillion in 2022.  

As the industry is recovering, it is time to understand the long-term effects of the pandemic. For property managers in the multifamily industry, understanding the below trends can help you better accommodate our tenants’ requirements. 

The most important aspect of maintaining a successful property rental business is having top-quality tenants who abide by the rules and pay rent on time. 

Bad tenants lead to a loss of income in the future in terms of back rent. To protect your property and income from problematic tenants, an eviction may be necessary. However, it is a time-consuming and costly process and can be taxing for both you and the surrounding tenants. 

Even back in 2015, eviction rates were high in the United States due to the rising cost of rent payments. Landlords were faced with high eviction costs while losing out on revenue as tenants were not able to make the monthly payments. Now with the effects of Covid-19, property managers are further burdened by rising evictions. During the pandemic alone, over 470,000 evictions were filed across 6 states tracked in the US. 

Each eviction can cost up to $3,000 for the landlord, making it a costly ordeal. When possible, finding alternative solutions would be the better choice. 

With recent reports of Cadillac Fairview using facial recognition to track people (without their permission), the question of privacy - within properties and the real estate industry – is up for discussion again. 

So how secure are we within a public space or in private property? Knowing that people are being tracked or analyzed can seem terrifying for anyone. Information is stored in servers with firewalls and immense security. Many corporations and businesses, for instance, use cybersecurity to maintain a protected sense of privacy within their company. Some of the measures undertaken are: 

• Proper tenant screening 
• COVID-19 tracing & screening 
• Remote identity verification

The Huffpost recently published an article about 2021 predictions. Luckily, a lot of the points brought up by it relate to our current context. It tackles subjects like mortgage rates and the housing market. 

The article brings up 3 important considerations for those who want to predict where the market could go next year.