THE IMPACT OF NEW TECHNOLOGIES ON SPACE, OPERATIONS AND REVENUES
The introduction of new technologies by landlords and residents has revolutionized the source of real estate revenues and uses of space. This article looks at technology issues affecting the apartment industry and Real Estate Investment Trusts (REITs). New hardware and software technologies, along with the E-Commerce and the Internet, are altering the way corporations and individuals utilize space. The real estate industry, and particularly apartment owners, have not been known to embrace rapid changes in technology. However, major public and private apartment owners are now committing large sums of capital for new technology integration. These technologies will significantly change the real estate industry, and in particular, the way apartment owners manage their properties.
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