Commercial Investment Real Estate is the magazine of the CCIM Institute, the leading provider of commercial real estate education. CIRE covers market trends, current developments, and business strategies within the commercial real estate field.
Issue link: http://cire.epubxp.com/i/306204
35 May | June | 2014 CCIM.com ing their smartphones or tablets into an of ce extension — yet the company has just one phone bill. T is type of voice over Internet protocol takes the virtual network benef ts of a private cloud to another level. By utilizing an iPBX, construction companies and real estate devel- opers are opening their construction trailer of ces in record time. Since only the basic Internet connection is needed to establish both network and voice capability, reliance on the telephone carrier has dropped, while the Internet carrier dependability is critical. Property management f rms and construction companies now have the ability for one employee to reside in multiple of ces and have his/her phone ring in multiple places. 4G WiFi Enterprise Routers In late 2013, cellular carriers launched a product that will allow for enough Internet bandwidth to accommodate all personal comput- ing and phone services at construction sites without ever running a wire. Although this technology is only a few months old and compa- nies should still rely on a main Internet line, this 4G-enabled router can serve as a f rm's backup Internet line. In the event of a downed Internet line, your f rewall switches over to use cellular data so that everyone can continue to work on the Internet connection af orded by this new router. T e cost for such a router is approximately $699, plus monthly data fees. Verizon has partnered with CradlePoint to of er this 4G service (http://business.verizonwireless.com/content/b2b/en/solutions/cradle point.html). Both construction companies and real estate developers are utilizing this hardware and technology to "instantly" open new of ces/construction trailers nearly two weeks before wired lines can be installed. T at gain in time can be critical for a project timeline. Apps for Commercial Building Control New apps now allow property managers to control a building's heat- ing, ventilation, and air conditioning, lighting, locks, and water systems all with a text or email message right from the property manager's phone. In fact, the property manager can arrange the settings to turn systems on and of on a scheduled basis or adjust timings when needed. T e apps can also enable the manager to shut the system of when an unusual or unexpected event is detected. Companies such as Johnson Controls (www.johnsoncontrols. com), Honeywell (www.honeywell.com), Nest (https://nest.com/), Control4 (www.control4.com) and Lutron (www.lutron.com) are leading the way in many of these initiatives. Automated building management systems can save a property owner 5 percent to 25 per- cent on operating costs, while lighting retrof ts and controls can have an even higher return on the investment. A professional IT service provider will take a holistic look at your operation and suggest the technology that suits your needs, show you what's new on the market, explain how to integrate applications, and implement the IT solutions that make sense for your company. Ian Marlow is CEO of FiTech, a technology fi rm serving a wide range of businesses and industries, including real estate. Contact him at imarlow@fi techllc.com. orders and payments manually. The benefi ts become even greater when mobile devices are incorporated in the fi eld. Engineers can receive and update work orders and access build- ing plans, equipment schematics, and repair manuals right onsite. 3. Lease Abstracts The ability to store, access, and cre- ate reports from detailed, technical- building or tenant information within a property management system has been around for quite some time. However, in most cases creating lease abstracts has been limited to a "cookie cutter" template. Today's browser-based technology is enabling new levels of fl exibility and function- ality that captures information on customized pages. System users can choose what sections they want to include in their residential abstracts and defi ne the fi elds on each page. On the property level, this type of next-generation abstract can keep track of every detail of every system — in real time. The abstract might incorporate make and model of a building's HVAC components: who purchased the units, from where, and for how much; warranty information and expiration dates; repair history and documentation; and maintenance schedules. On the tenant level, abstracts can keep track of contact information; applica- tion data; the original lease and all renewals; rental payment histories; maintenance requests; and copies of every communication exchanged with property management. Michael Mullin is president of IBS, a 35-year-old boutique software fi rm based in Totowa, N.J., specializing in real estate management systems. Contact him at mmullin@ibsre.com. 3 2 - 3 5 F - 7 T e c h T r e n d s - M a r l o w . i n d d 3 5 32-35 F-7 Tech Trends-Marlow.indd 35 4 / 2 9 / 1 4 3 : 0 4 P M 4/29/14 3:04 PM