The character of any given property changes over time with each tenant, upgrade or improvement. These activities involve additional data and technical detail affecting future performance, cost and operating requirements. In this article we explore five key reasons why NNN property owners should adopt a digital data policy and store property information in the cloud.

NNN properties can be at a considerable disadvantage when it comes to tenants documenting or reporting activities and performance. The challenges of data continuity is underlined when tenants and even technologies move-on leaving poorly documented improvements behind.

Maintaining systems, equipment and components left behind by tenants requires a lot of information that’s all too often not readily available. One of the biggest obstacles to owner, operator, tenant and service provider efficiency hinge on the ability to find and exchange reliable information in a timely manner.

Any improvements, upgrades or maintenance performed on behalf of tenants is usually by service providers once removed from ownership and management. Cloud base property information model (PIM) storage facilitates digital exchange directly between the property’s data containers and service providers that report to tenants or other third parties.

The solution is to assure property information is easy to store and access autonomously. . .

Documentation:

Tenants are known for performing improvements without delivering documentation on alterations or maintenance of buildings and grounds. It’s important for property owners and investors to understand the advantages in how build and construction industries are trending digital. Service providers are becoming fully capable of delivering details on build, construction, maintenance and servicing of systems, equipment, structures and grounds in digital formats.

1. Contractors are commissioned on a work-for-hire basis
2. Increasingly capable of digital deliverables today
3. Construction requires ongoing regulatory compliance
4. Build components require long term maintenance and upkeep
5. Tenants often leave stuff behind

* Digital exchange and autonomy require property information models to be stored in the cloud.

Performance Requirements:

Ownership has an interest in assuring tenants are maintaining assets within a standard of expectation. If for no other reason, when tenants vacate, they often leave stuff behind that become the investments responsibility. Performance requirements tracked in build or construction include:

1. Improvements and maintenance activity
2. Products and components
3. Service providers (i.e.: contractors)
4. Ownership Performance (warranty requirements)
5. Maintenance Obligations

* Contractor and component performance requirements survive tenants and property ownership.

Maintenance & Quality Assurance:

Local and remote operation and management of property assets face similar challenges. Tenants don’t always maintain improvements or existing grounds and structures. Digital data infrastructures solves these challenges by:

1. Autonomously notifying stakeholders of performance requirements
2. Autonomous reporting of service provider performance
3. Maintaining a list of anchored service providers and personnel
4. Service provider dispatching
5. Track component standards and performance
6. Records maintenance activities
7. Reliable data and technical references

* Track performance autonomously through service provider activities.

Property Management:

Management user process and workflows often involve multiple experts from highly diverse areas of operation and maintenance. Processes more often duplicated with similarity between trades and professions where AI will do the heavy lifting. Action items are often repeated at predetermined schedules associated with technical specifications defined by build, improvements and regulations. Digital data & storage:

1. Guarantee tenants submit proper build data
2. Records tenant maintenance performance
3. Simplifies continuous performance analysis
4. Advanced notification of maintenance requirements
5. Automates operational tasks & maintenance scheduling
6. Eliminates user process & workflows
7. Real-time stakeholder notifications
8. Secures AI accessibility to reliable data
9. Eliminates errors associated with public data

* Centralized data storage enables autonomous communication throughout service provider ecosystems.

Ownership:

Adopting a digital data policy establishes value through operational efficiency and utility of the data resulting in an improvement to property asset valuations. Your data, storage facility and digital identity require service provider and technology ecosystems to adapt to data driven technologies. Market demand for data assures greater ROI at minimum expense!

1. Data has operational value!
2. Data has markets and investment value!
3. Digital is the future of real estate
4. Digital simplifies documentation of NNN performance & accountability
5. Documented maintenance improves asset valuations
6. Documented maintenance improves service analysis
7. Today, AEC create deliverables in digital data formats

* Digital infrastructures offer higher valuations, operational efficiency and data utility.

Object based data formats like COBie (Construction to Operations Building information exchange) and independent cloud storage for the property information model automatically assures a smooth transition and business continuity between owners and service providers during changes and exchanges. SLACi AI enhances data storage with technologies that link a property’s digital data asset account to ownership of record for the physical property. SLACi APIs allow ownership to delegate portions of access managed data security and administrative functions to property management teams and authorized technologies.

Real Estates’ Digital Transition

The digital transition in real estate follows a long process of converting deep industry details into digital data. By leading the effort, build and AEC industries established a foundation to enable a digital technology ecosystem. However, real estate industrywide is at a crossroads where the most critical data components on existing property and new build assets still need to be assembled.

Industry faces a challenge in transitioning digital deliverables between AEC and the cloud storage facility for the property and its owner/investors. Today, a fully digitized build project still faces a roadblock at exchanging digital deliverables with the property and its owners autonomously.

Real estate asset owners must position their property information model (PIM) in secure centralized cloud storage environments. Creating a PIM cloud data library offers significant benefits. As a data provider, property owners isolate themselves from the expense of technologies used by the service provider ecosystem.

Inasmuch, the next stage of technology capable of producing substantial operational efficiency is specific to the assets’ data. Developers need accessibility to reliable dynamically updated data to creating solutions that integrate service provider technologies around property operation, its data and service provider ecosystem.

SLACi digital infrastructures offer data owners the means, methods, techniques and technology to gather, process, monitor and deploy deep property details as AI data libraries in design, build and the operation of property.