How the IoT is Affecting Property Management

At its heart, the Internet of Things (IoT) is all about connection. Connection between smart devices, WiFi, beacons, etc. to collect data on such things as lighting, temperature or the presence of people. With the IoT, the idea is for make our everyday devices “smarter”–get them talking to each other to share information and then analyze this information for us to gain insights on when to run a dishwasher to save energy or how to set up a store display for foot traffic. For the property management industry, the aim of the IoT is to connect property owners, managers and even tenants to each other. Similarly, it is then to connect these individuals to data insights generated from everyday routine activities. Although much of what the IoT can offer is still in its infancy, it is already having a large impact on property management.

Within the industry, security is a main concern for both the tenant and building owners, and the IoT offers some truly amazing solutions. Wireless sensors allow property owners and managers to offer tenants virtual guard services. Tenants or managers can program the sensors through an app to customize their security. For example, if the tenant works from …

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