When people think about what technology means these days, some of the latest apps or advanced AI robotics come to mind, but if we go back to the fundamental meaning of what technology is then it becomes clear that technology is being used extensively within the construction industry and the property market, by extension. Is this technology which is being deployed actually useful to these markets though?
Cheaper costs of construction
Modular construction in particular makes for some construction technology which results in more efficient building. Of course, part of what goes into this resultant efficiency is the cost of construction, which is inevitably lowered. As a result, some of the costs saved can be redirected to be invested in some technology that is deployed at the business-level, like using some property management software.
Better quality of buildings
In both the worlds of modular building and the mainstream construction process, technology is quite extensively deployed. This results in better quality all round, including the quality of the buildings themselves. We’re not just talking about construction quality in the form buildings that are solid and can last for a really long time, but rather the experience which their occupants would have to live with. For example, property owners whose property inventories are comprised out of units which can benefit from the elements, they can offer their tenants a much better experience and choose to charge more if they so wish. For instance, a building which gets maximum exposure to the sun might not need too much in the way of expensive heating technology, but because of the application of technology at the planning phase, considerations such as these can be factored-in long before the first tenant takes up occupancy of their rented unit.
With modular buildings in particular it’s clear that one of the main advantages to the technology that goes into this method of construction is that of yielding faster construction. Projects get completed much quicker and property managers go from the construction phase to the actual management of their property inventories within a short space of time. However, mainstream construction technology has also since evolved to account for much quicker construction than we’ve experienced before, although not as quick as with modular buildings.
Better property management
Going beyond the actual construction itself and bringing things to the property management level, this is perhaps where the usefulness of technology within the property market is most pronounced. The modern-day definition of technology points more towards software you’d use to manage property inventories than the tech which is deployed as part of the building process. This may be a fundamentally flawed reality, but a reality, nonetheless. Either way, the best software solutions with which to manage properties epitomises the value of technology to the property market, because if you learn more about integrated features which essentially allow for the remote management of properties, it becomes clear that better property management overall accounts for a bigger bottom line.