It is crucial for people moving into a residence to feel that they are in a safe setting especially after previous years. I feel for people who were or are still separated from their families, friends and are dealing with pressures they wouldn't ordinarily experience. I believe that building managers can do a lot to ensure the physical and emotional health of the residents of their buildings.
It was extremely surprising how rapidly the entire sector adjusted and how they shared best practises even those who were viewed as rivals.
A BTR building's technology platform integration serves purposes other than encouraging social interaction among residents. It's also about streamlining the experience of living, like letting people choose the day and time they want to move in so that there aren't two people showing up at once.
People don't want to show up, fill out paperwork, and fiddle with keys. They want to enter the room as soon as possible. Now that safety regulations require a contactless move-in, let technology speed up that procedure so that operators may concentrate their team on customer service.
With the help of a proptech solution, BTR operators may now better plan their own resourcing. They can more effectively plan the maintenance as they regularly track how spaces are used, such as occupancy. By giving incoming residents a barcode, they may have staggered arrivals and less administrative work. They simply need to scan that, and they can proceed.
The use of technology considerably reduces the workload for employees. Residents are already in possession of time-consuming goods when they move in, like contracts that can be completed electronically. Operators can now alter their tone to be more customer service oriented and ask, "How else can we help?" more frequently.
The other significant improvement is how well they now communicate with residents. Through a resident platform, they may communicate with them more regularly via various platforms, such as online chat or email, and tailor their message in accordance with the needs of the residents, ensuring that it is thorough that they address everyone's questions. Additionally, we are all lot more accustomed to the subscription model these days; we subscribe to both music and movies. People are now beginning to purchase vehicles and bicycles. BTR is a sort of rental space subscription concept. People can live the flexible lifestyle they desire thanks to BTR operators, which relieves them of the need to devote a lot of time to one endeavour.
Technology has the potential to help the sector grow and scale up quickly. Property developers have built their expertise on finding and developing sites. They can do it at a rapid and large scale, but the next step is technology. When more projects come along, you'll need to be able to open multiple buildings in one month and lease them ahead of time.
You cannot miss even one day of utilisation or occupancy due to the enormous amount of expenditure required. Developers and operators can construct a highly repeatable, highly scalable blueprint using proptech platforms. Lessons are learned through the monitoring of building utilisation and resident interaction, so mistakes are not repeated from the start. You quickly scale up after refinement.
As soon as they move in, residents will become familiar with the brands to watch out for and what can provide them with what they need.
Future opportunities and challenges are situated nearby. New construction raises the bar for the kinds of goods and services that can be found there.
When it comes to the type of technology that can be used to outfit a building, we are seeing a plethora of options. It's moving so quickly. People have a lot of options. You can now get high-tech laundry as well as sensor-driven items like touchless taps and elevators.
It is challenging to keep up and develop partnerships and integration with a much broader range of products and services. The key is to create universal integration technology that works with any system. This makes it simple to build at scale and fuel the current gold rush in the BTR sector in the UK.
