The Internet of Things (IoT) is a network of physical objects such as devices, vehicles and even homes that are embedded with software and sensors to collect and exchange data. The IoT enables limitless possibilities from smart coffee makers, to smart jet engines. It's estimated that at least 26 billion devices will be connected to The IoT by 2020. The massive scale of this concept can potentially affect every industry – especially real estate.
While smart homes once seemed futuristic, developments in technology have made them accessible today. Companies like Nest offer a host of smart products, such as a learning thermostat that can be controlled from a user's phone to track and reduce electricity usage, even when they are away from the house. Other technologies that contribute to the smart environment include locks, light bulbs, smoke detectors and cameras, which work together to create one cohesive system. In addition to simplifying daily tasks, smart homes reduce costs through the ability to monitor heat and electricity usage and protect your investments through security options. Home automation saves users money and stress.
The IoT is also making property management easier, as emerging platforms are enabling virtual home tours and automated portfolio analytics. These powerful applications are just the beginning of what can be done with the technology. Here at Motili, we're looking to the future and developing software that will streamline property maintenance by connecting top-quality contractors with equipment providers to complete jobs for property managers. The power of the network allows us to work seamlessly with clients who manage multiple properties nationwide, all from our online portal and mobile app. As The IoT evolves and embeds itself into property management, the dynamic capabilities that will be unlocked are limitless. Motili is pioneering the future of property maintenance with data powered by The IoT, providing insights and analytics to drive smarter decisions.