Bricks and mortar are seen as a safe investment by companies looking for a long term placement. These investments are seldom done on a whim as the sums involved should command for an in-depth knowledge of the true performance of the buildings. Taking informed decisions and leveraging technology to manage built assets better will always be a smart approach.
Manage built assets
Companies with large sums to invest, such as pension funds companies, can afford to speculate on buildings and wait decades for them to generate a good return. In the meantime, they usually appoint a management company to look after their buildings and fill them will happy and rent-paying tenants to cover the running costs. Large building surveyors like CBRE and Cushman & Wakefield do a sterling job of providing this management to their clients, often on a global basis.
The world is however changing but the industry isn’t moving with the times.
Manage built assets: surveying the buildings
To survey a building and evaluate its performance, in particular with regards to energy loss, you have several surveying options to choose from. Many are time-consuming, involve health and safety risks, noise disruption, scaffolding building and dismantling.
As a building portfolio manager, why wait for a surveying team to gather information the old fashioned way when you could use technology to get more accurate results, cheaper and faster?
Although you can’t change the way the wind blows, you can adjust your sails. Our industry needs to adjust its sails to take advantage of advances in technology. Companies servicing the domestic market such as Zoopla and Purple Bricks are often referred to in their sector as ‘Clicks & Mortar’: they leveraged technology to revolutionise the way we buy and sell houses.
At IRT surveys, we have leveraged technology and are helping estate managers mitigate risk from their portfolios by using infrared cameras, drones and software to rapidly and impartially audit their assets. By empowering them with meaningful data, we are enabling them to take rapid cost-effective decisions.
With an infrared thermographic survey, a qualified infrared thermographer simply takes a few thermal pictures under the correct conditions and gives you an honest appraisal. Minimum risk, no noise, no mess, no disruption to the tenant, no health and safety concerns. Our bespoke software works out the pixel size, adds it up and lets you know exactly the extent of the repair needed. That’s the easy part.
The best part of it is that it can easily be amplified to a whole estate allowing you to build an accurate benchmark to develop a roadmap of refurbishment of the whole portfolio with known costs and savings.
Manage built assets: an example from the education sector
IRT Surveys have done exactly this for a local authority. Every school in their portfolio (90) was surveyed. Thermal pictures were taken, analysed and quantified to enable a refurbishment programme with a facilities management company.
The data was then ranked and rated in an order that reflected the severity of the problems identified. A targeted programme of refurbishment was developed, saving the local authority thousands of pounds and increasing the value of their buildings.
Manage built assets: time to embrace technology
Let’s exploit technology and use data wisely and efficiently to help you increase the value of the assets you manage and grow your reputation as innovative and forward-looking. A portfolio owner spending less money on maintenance is a happy one. You, as the portfolio manager, are helping them save money. Money to spend on something else: maybe accelerating their refurbishment programme, perhaps buying more buildings – who knows.
What we all know for sure is that technology is constantly evolving. Since we can’t control that wind, we’d better adjust our sails accordingly. To find out more how we can help you manage your estate more efficiently and saving money on its maintenance, request your free non-obligation quote by clicking on the button below.