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/504576
16 May | June | 2015 Commercial Investment Real Estate m 1 6 May | June | 20 15 IN V E STMENT A N A LY S I S PaulFleet/Thinkstock Mainstream media has been focusing increased coverage on stories involving unmanned aircraft systems, also commonly referred to as drones. Glamorized notions of using UAS for delivering packages ordered online or beer to ice fi shing houses tend to underplay the useful potential of this leading-edge technology. Use of unmanned aircraft systems is up in the air. In February the FAA announced a long- awaited proposal that would set parameters for allowed commercial use of small UAS [www.faa.gov/uas/nprm/]. T ose rules will require not only public comment but con- siderable discussion from various interest groups before they are implemented. Until then, while these proposed rules provide an insight to what the future may hold, we're not there yet. Even recreational and hobby UAS users must follow some basic rules to maintain safety within controlled airspace and mini- mize the risk of personal injury and property damage. A summary of those rules can be found at KnowBeforeYouFly.org. Potential Industry Use Sav v y contractors and developers are already considering how to utilize UAS to monitor construction progress or review potential development sites. Architects and surveyors could use UAS to take photos instead of relying on costly helicopters and professional photographers. Commercial and residential real estate brokerage companies could launch cameras attached to quadcopters 50 feet into the air to capture a sprawling estate with amazing lakeshore or ocean views or to illustrate a retail space's proximity to freeways and com- patible businesses. T ese are all commercial uses that require FAA approval. Some businesses that have been early adopters of UAS suggest that their use is appropriate so long as they don't sell the photos or videos obtained. T at argu- ment is unlikely to f y with the FAA if the UAS was utilized for a commercial purpose. No Fly Zone T ere are numerous commercial uses for UAS, many of which could be invaluable within the commercial real estate industry as tools to improve safety, make site review more ef cient, reduce costs, and improve the marketing of sites. Some users would like to utilize the technology today, but without Federal Aviation Administration approval, their commercial plans are grounded. In cities throughout the country, UAS are being launched by businesses that want to survey land, take photos for real estate list- ings with a birds-eye view of surrounding features and amenities, or review construc- tion projects. Unfortunately, many busi- nesses fail to realize that just because the technology is available doesn't mean it can be used without restriction. Current FAA rules draw a line in the sand, specif cally allow- ing UAS for recreational use while strictly prohibiting UAS for commercial use unless FAA approval is obtained. by Brad Boyd Drones Take Off?