One of the most difficult and costly elements of successful landlord operations and asset management is rooted in insufficient building information. The industry has evolved to allow for sophisticated asset management tools and integrations to infinite platforms for better management, more efficient cost control, and improved overall communications. But it all depends on strong building information as a backbone … What if your building plans are outdated or your construction drawings are from the 1980s?
The development of technologies such as GIS (Geographic Information Systems), LiDAR (laser scanning), and 3D modeling have also evolved with the times. The cost and complexity of being able to create fully integrated models into existing asset management platforms has dropped dramatically. The time is here where landlords and asset managers can leverage building data in accessible, shareable, and collaborative ways like never before.
Here are some ways these cutting-edge technologies change the game for everyday asset management needs:
Acquisition Due Diligence
Intelligence during the acquisition due diligence process is critical to a mutually successful deal. Providing accurate plans and models for buyers and sellers helps provide transparency in the transaction, removing the challenge of outdated documents and plans. Ultimately, allowing both parties to accurately price the assets value and necessary work into deals.
Tenant Fit-Outs
A better understanding of the building systems and clear clash detection, all with flexible and universally applicable models, provide both tenant and landlord with the knowledge to find the best solutions to balance the needs of the new tenant’s operations with those of the entire building as a whole. All this while also ensuring the lease square footage is accurate to the fraction of an inch.
System Replacements
One of the more costly elements in the contractor bid process is a lack of clarity in the scope. Providing contractors with full transparency and bid-ready models ensure apples-to-apples bids and avoid costly change orders for items that should be captured in the original bid. Removing uncertainty around equipment and crew access, clash detection, and other costly unforeseen issues ensures a smooth process and reduced cost for the contractor and the landlord.
Property Management & Engineering
Increasing day-one effectiveness and reducing onboarding time are critical steps to a successful transition to a new Property Management & Engineering relationship. By providing accurate, universally applicable building models using GIS that are easily integrated with any asset management platform leads to true, full-fledged building intelligence.
Time is money. The ability to integrate all of this information and intelligence into a remotely accessible 24/7 platform for your smartphone or tablet by management, sales, and facilities personnel will show immediate benefits to your bottom line. No more delays in returning to the office to obtain plans, maintenance documents, building updates, or equipment manuals.
As a fully integrated civil solutions provider, LandTech expertise in all of these cutting-edge technologies allows us to provide the appropriate solution for any application. After a brief discussion of your needs and the current information available, LandTech can provide a cost-effective solution to achieve building intelligence that will ultimately change the game for your asset management priorities.
Contact us today to learn more about our commercial real estate solutions!