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How can Building Management Software Solutions Benefit the Real Estate Industry?

Gaurav Bali
Gaurav Bali

29th July 2022

Today, every business moves digital and enjoys the convenience of having access to all the business’ information at their fingertips.

In the transportation industry, for example, business owners can access all fleet information wherever they are at any time as well as be alerted to issues and maintenance through a centralized user panel.

The same is with the real estate business. With building management software you can manage all your buildings more precisely without spending a lot. A building management software solution helps you monitor and manage all the equipment installed in your building, such as air-conditioning, heating, ventilation, lighting, power systems, security devices, various IoT sensors, and so forth.

In this blog, you will understand what is a building management software and the benefits it could deliver.

What is Building Management Software?

Generally speaking, building management software is a computer program that is connected to a variety of internet-enabled smart sensors. These sensors gather the data from all corners and assist building owners to monitor and control all the operations of the building from a centralized solution. 

In addition to controlling air conditioners, heaters, ventilation, lighting, and security systems, smart sensors can also be used to control other components of a building.

These types of software are designed with the ultimate sole purpose to assist commercial real estate companies in managing their buildings, assets, and occupants in a more efficient manner, helping them to save time, money, and energy.

Building management software (BMS) allows you to get insights into all your building operations 24*7 so you can monitor the real-time building operations.

Using data gathered by smart sensors, the software puts in place fault management and alarms which enables real estate businesses to take prompt action to prevent building management problems.

Here’s Why Real Estate Businesses Need Building Management Software.

Having the ability to monitor and control the building operations is just one single benefit of building management software, there are a lot of other benefits as well such as:

Reduces Maintenance Cost

By implementing predictive maintenance and scheduled maintenance effectively, a BMS can reduce the building’s maintenance costs to the greatest extent possible.

Ensure Easy and Effective Management of Building

The success of the real estate business greatly depends on the satisfaction of its customers. The integration of BMS will allow you to manage all the tasks of your building quickly without even being noticed by the tenants of the building.

Centralized Management of Documents

Document management used to be a challenge for real estate businesses in traditional days. With BMS, you have access to all your documents from one centralized panel which makes sure the business never struggles to find the relevant document. 

Another benefit of centralizing the documents is that the integrity of sensitive documents can be protected. Also, you can prevent documents from being lost.

Save Time and Resources

The integration of the property management software automates time-consuming and redundant tasks. By doing so a business will have a lot of spare time they can spend on performing other tasks needed to take it forward.

What are the Key Benefits of a Building Management System?

Let’s walk through the benefits a building management system can deliver to commercial businesses:

Repair and Maintenance Management

This is one of the biggest benefits of a BMS. When humans are assigned to look after building repair and maintenance, they are prone to mistakes. With this software, all the repair and maintenance information will be available on a dashboard. An authorized person can track the information and schedule the repair & maintenance effectively.

Predictive Maintenance

What if you can predict the problem even before it occurs? Seems the most valuable benefit, right? Such software can detect problems in the early stage before they make any effect on the building. Thus you have ample time to resolve the issue before they are even noticed.

Less Energy Consumption

A building management system tracks and monitors the building’s electrical operations with the help of powerful sensors. As a result, it can reduce energy consumption by a significant amount.

Sustainable Solution

As said, BMS is an energy-efficient solution which means it enables a building to produce a less amount of carbon footprint on the environment.

Integrated Building Security

A business grows when customers associated with the business feel safe and secure about the business services. In addition to maintenance, BMS offers an unparalleled security system that ensures that occupants, resources, and assets are safe and secured.

Greater Comfort to Occupants

Every room of the building is installed with sensors that detect the room temperature and indoor air quality. A BMS controls the HVAC system to create an environment that will bring great comfort to the occupants of the building.

Reduce Operating Cost

A BMS simplifies building management by automating redundant tasks and eliminating the need for excessive resources to operate a building thus reducing the operating cost of a building.

Extends Equipment Lifespan

Luxury is a necessity for humans these days and it won’t come cheaper. Therefore almost all buildings are equipped with costly pieces of equipment. With BMS, the early detection of misconfiguration and scheduled maintenance will extend the lifespan of pieces of equipment.

Regulatory Compliance

Every business is subject to compliance with government regulations. BMS software helps commercial real estate companies comply with the regulations so your business never risks being non-compliant.

Asset Management

Using this feature, you can effectively manage all the building’s physical assets to extend their lifespan and maximize returns on investment of assets. The software will track the location of the asset, the number of hours the asset is used, and suggest the maintenance time to increase the productivity of assets.

Work Automation

The majority of the repetitive task can be automated with BMS software, so human intervention can be reduced to the greatest extent. The automation will also reduce the scope of the errors.

Custom Reporting

BMS can collect all of the business data and provide detailed analytics of commercial real estate buildings with accurate information.

Access Management

In addition to serving as the building control system, this software can be utilized to ensure that only authorized individuals can enter the premises of the building. By doing so, residents of the building are provided with an additional level of security.

Energy Management

The software can track the energy consumption of the entire building. It can also identify the energy consumption needed to prevent energy wastage.

Water and Electricity Bill Management

All the bills related to the building can be easily handled by the software. Whenever the due date arrives a reminder notification will be sent to the real estate company to avoid penalties.

The number of benefits building management software can deliver to a commercial real estate industry are countless. Now, let’s take one step further and know about a few of the most prominent building management software available in the market.

Ready to understand Know Your Building™

Know Your Building™ is one of the best building management software solutions built for commercial real estate. The installation of the Know Your Building™ solution is hassle-free and requires minimal effort.

The successful installation will result in providing the business with real-time insights at its fingertips. Businesses can proactively take control of a building by analyzing the existing data and making informed decisions. It will reward commercial real estate buildings with greater savings.

Know Your Building™ comes with transparent pricing where you have the option to pay as you go or you can pay based on modules, whatever works best for you.

Some of the Key Features of Know Your Building™

  • Powerful insights into the building data
  • Maintenance Management
  • Assets management 
  • Access management
  • Smart analytics of building usage
  • Visitor management
  • Attendance management
  • Real-time occupancy monitoring
  • Vendor Management
  • Workflow Automation 
Add of Book Demo Add of Book Demo Add of Book Demo

Conclusion

The benefits of property management software are enough to inspire the commercial real estate sector to adopt automation in their operations. Are you a building owner or have a vast building portfolio and are confused about which building management software solution you should choose? Know Your Building™ is one of the best choices for you. It comes with plenty of power-packed features that lower operating cost and gives you powerful insights into your building. Book your demo today and explore the unparalleled capabilities of the software at no cost.


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