A study on automated property management in commercial real estate: a case of India. Issue 2 (30th September 2021) - Kaur, Taran
Abstract : Purpose: Property management in commercial real estate (CRE) is an important operational function that needs to be managed because it brings large cost implications to the organization. As India aspires to become a developed real estate market, analysis of the growing importance of automating property services and technology acceptance by stakeholders are two key concerns that need to be explicitly addressed. This study aims to examine the extent of property technology (PropTech) adoption in India and propose a technology-enabled stakeholder management model in Indian CRE. Design/methodology/approach: The research is qualitative in nature and follows the grounded theory approach. Research data were collected by conducting a series of semi-structured interviews with 18 property management professionals from different prominent Indian companies using PropTech. Findings: The findings suggested the nine most typical automated property management functions in Indian CRE. The result of this research is the automated property services model for stakeholder management in CRE. The model demonstrates the value of implementing technology in property services in India. Practical implications: The study provides useful insights into how artificial intelligence (AI) in property management can be applied to address property-related challenges, various stakeholder needs and improve property performance in accordance with energy efficiency policies. Originality/value: This paper attempts to add to the limited body of literature on technology in the property management domain. The model demonstrates how automated property services meet the needs of different stakeholders in CRE and provides remote working procedures within the COVID-19 pandemic context.