It’s that time of year again – time to buckle down and figure out your budgets for 2019. As property teams everywhere dig into the details of what their budget looks like next year, it’s common to put blinders on and focus on your existing operating expenses and allocation. Many property teams aren’t actively considering new ideas and projects, like technology, unless they’re unavoidable.
As a result, technology has previously been left out in the cold during budgeting season. More and more, however, property teams are starting to realize the importance of allocating dollars for new technology in their budgets. Technology is playing a bigger and bigger role in building operations and tenant engagement, so if property managers don’t begin considering it during the early stages of budgeting, they risk falling behind as other buildings begin implementing new technology next year.
Here are a few tips to help you evaluate the right technology for your building and fit it into your budget.