Any property management expert will know that managing a building throughout its lifecycle is one of the more challenging aspects of the role.
Tracking maintenance schedules, complaints follow up, as well as managing more complex issues such as those raised recently by the cladding scandal following the Grenfell disaster; all of these aspects of property management are time-consuming but vital aspects to get right.
When a property manager manages their day-to-day schedules, they often rely on legacy processes and systems. Some of these are simple CRM or scheduling tools, all of which hold huge amounts of data that is navigated manually or interrogated using existing questions which have been baked into the process, such as tenant committee meetings or following up emails.
The benefits of AI in this area will bring data led decision making to old processes. As an example - imagine the time and cost savings when a supplier and maintenance relationship can be managed by intelligent systems, which can predict, follow up and create reports on any aspect of the property’s lifecycle. If that intelligent system could then use pattern and picture recognition to pick up on any anomalies in, say, a building or plant’s functioning, property managers could then predict and manage any problems before they became a costly repair issue.
CEO of Grafton, Mark Byrne, stated:
‘If AI can be used to predict maintenance issues or, say, spikes in energy use, and drops in energy efficiency, it will allow property managers to devote more time to relationship management, or researching new opportunities in their sector.’
Call Grafton for a no obligation conversation regarding your freehold research. Our other services include empty homes management and asset research.
Give us a call today to see how we can work together.
