Historically, the residential property sector has been slower than others to adopt digital technology, instead relying heavily on paper-based and fragmented systems. However, the Grenfell Tragedy prompted a seismic shift in attitudes. Since that terrible event, asset owners, catalysed by strict regulation, have put collective feet on the accelerator towards digital transformation, especially regarding building information and data.
Dame Judith Hackitt’s landmark report and the subsequent Building Safety Act 2022, with its ‘mandatory digitisation of building information for Higher Risk Residential Buildings (HRRBs)’, has undoubtedly had an influence. Coupled with her rigorous ‘golden thread of information’ mandate, spanning the entire asset lifecycle, it’s changing how building information is produced and stored to ensure compliance and protect tenants.
Now the ‘Responsible Party’, asset owners face severe legal and financial consequences for inadequate or missing documentation relating to correct building management and maintenance. Of course, relying solely on physical documents increases the likelihood of data gaps or inadequate documentation within critical information, putting all parties at risk. To combat this inefficiency, essential information is being digitised on a level like never before, so it and the buildings it represents can be managed more effectively and can be made accessible to the right people at the right time, enabling informed decision-making.
So you see, having complete digital data across an asset’s entire lifespan has become a necessity rather than a nice to have, with asset owners prioritising resident health and safety as a number one concern. This can only be a good thing, and represents an important step towards preventing future disasters, whilst establishing a new era of high quality, responsible residential development and management.
Changing perspectives
Yet beyond regulatory compliance, property owners are also increasingly recognising their moral obligation to protect residents. By migrating information online, asset owners can share more information with key stakeholders and tenants, and implement preventative measures that safeguard tenants’ wellbeing.
Accurate, up-to-date building information is essential to this process, especially when it comes to fire prevention and safety. By digitising this information, asset owners can ensure data is readily available to residents, property management, and emergency services, as well as the Building Safety Regulator for review. It can be rapidly accessed, understood, and acted upon in case of an emergency.
There are other benefits too. Property owners are recognising that digitising building information can also enhance management and maintenance services. A prime example is to be found in the building’s O&M manual. By making it accessible online, facilities teams and contractors can access crucial information to improve estate management and ultimately provide better value for tenants. It’s also automating routine tasks like inspections, streamlining processes, reducing errors, and improving efficiency across entire portfolios.
Greater compliance, safer properties, and better services all make a strong case for digitising building information.
Single source of truth
In tandem with the race to digitise data, there has inevitably been an uptick in the adoption of digital tools to help manage the potential minefield of missing information and ensure no stone is left unturned. We’ve seen this in a recent increase in the number of enquiries for our Golden Thread Common Data Environment (CDE) and Building Document Management Solution, particularly for in-use buildings.
For context, the CDE is more than just a centralised platform for information management; it’s a game-changer for organisations managing one or more HRRBs. It can goes beyond solutions like SharePoint and other asset management systems, providing templates specifically designed to build a Golden Thread of Information.
By consolidating information into one accessible hub, with a dashboard for clear information visibility and reporting, it eliminates the challenges of scattered documents and inconsistent processes. With standardised templates, asset register and a robust audit trail, the CDE not only supports data accuracy but also reduces errors and streamlines compliance.
Its adoption is the perfect litmus test for how seriously an asset owner takes the welfare of their business, building and resident. Property owners, particularly those with large portfolios, are increasingly attracted to this offering as a superior data management tool for many reasons:
- Centralised Management via One Dashboard: Users can effectively manage building information across multiple properties to ensure data is up to date, report on and analyse information and support safety and regulatory compliance.
- Standardised Processes: Streamlining operations with consistent processes and templates, eliminates errors and redundancy.
- Real-Time Updates: Maintaining an accurate and up-to-date record of a building with real-time information updates, provides a clear audit trail of changes and better understanding of the building itself
- Regulatory Compliance: Information in one place facilitates meeting compliance by providing easy access to building information for Building Safety Regulators and inspectors, saving time and resources.
These solutions empower property owners to elevate living standards without the administrative headache. As the transition into the digital age accelerates, these types of platforms are indispensable allies in a world demanding transparency and accountability.
Nurturing green shoots
This is just the start. While the industry has made remarkable progress since the challenges of 2017, we must push beyond the basics of information management to maintain this momentum.
By prioritising data accuracy and championing resident well-being, asset owners can lead the charge in revolutionising property management. Together, let’s set a new standard for the industry in 2024 and beyond.