Commercial real estate and technology

On Behalf of | Mar 24, 2017 | commercial real estate

Advancements in technology are impacting how professionals in the commercial real estate industry do their jobs. Florida investors may benefit from leaning how process automation, smart cities and more are changing how commercial real estate business is done.

Landlords, property managers, tenants and investors all make use of property management technology. Platforms provided by companies such as BuildScience, ClickNotices and SMS Assist allow property managers to easily have a handle on data like maintenance requests and rent rolls. Investors are able to use to the same platforms for updates on how their properties are performing. Tenants can use the smartphones to place maintenance requests on the platforms. There are even property management technology platforms that are specially designed to meet the needs of specific niches in the commercial real estate market.

Already major players in the residential real estate sector, lending marketplaces have begun to expand into the commercial sector. Rockfund, Money360, RealAtom and other companies are offering easy access to a wide range of funding options, including crowdfunding and traditional loans, for commercial real estate projects.

The growing quantity of search platforms and listing services dedicated to the commercial real estate market is another benefit of technology. New services routinely provide new and innovative functionalities or focus on a niche within the commercial real estate market in order to distinguish themselves from other services. Some of the leading sites, such as RealMassive, Breather, Pivotdesk, Digsy, Liquidspace and 42floors provide listing services for multi-family properties, industrial spaces and flexible workspaces.

Individuals who own commercial real estate may require an attorney who practices real estate law to ensure that their rights and interests are being protected. The attorney may draft purchase or lease agreements and help to ensure that any potential zoning issues have been resolved.