Digital Asset Tagging

An innovative new system making a tangible impact in the industry, digital asset tagging improves operational efficiency and provide ESG benefits.

Digital Asset Tagging - revolutionising Furnishings and FF&E Management in the Property Sector

Efficiently managing furnishings, fixtures, and equipment (FF&E) is crucial for developers, operators, and managers of multifamily housing, single-family homes, and student accommodations.

Digital asset tagging has revolutionised inventory management and product data capture for facilities management.

Beyond operational efficiency, digitalisation also enhances Environmental, Social, and Governance (ESG) criteria, highlighting the importance of integrating digital asset tagging into modern real estate management.

LOFT x MyTag

Digital asset tagging uses technology like QR codes or RFID tags to label and track furnishings and FF&E within a building.

LOFT has partnered with MyTag to create branded QR stickers that are easily applied to each product.

These tags store detailed information, including images, purchase dates, warranty details, and original installation locations. A downloadable PDF contains the product's O&M information.

This data, hosted on MyTag’s web-based platform, can be updated as needed, enabling real-time asset monitoring and management.

Operational Efficiency

Streamlined inventory management

Digital asset tagging simplifies inventory management, providing an accurate and up-to-date record of all furnishings and FF&E.

This reduces the risk of loss, theft, or misplacement, ensuring operators have a clear understanding of their assets.

Maintaining data accuracy requires
updating the system with any asset movements.

Seamless Management of Maintenance and Repairs

Detailed asset information ensures the correct maintenance and care, extending furniture lifespan.

Operators can use live event reporting to send images of defects, which LOFT can view immediately.

If defects are within the warranty period, replacements are quickly organised.

A link to our website allows operators and residents to purchase additional items, enhancing the resident experience.

Cost Forecasting and Budgeting

Digital asset tagging enables accurate forecasting of furnishing lifespans. By knowing when assets will need replacement, operators can budget effectively, avoiding sudden large expenditures and spreading costs over time.

This financial foresight is particularly valuable for large-scale operations in multifamily and student housing.

Staying On-Trend

Staying on trend with furnishings is crucial in a competitive real estate market.

Digital asset tagging allows operators to track the age and condition of furniture, making it easier to identify when updates are needed. This ensures properties remain attractive to prospective residents, enhancing occupancy rates and rental income.

ESG Benefits

Environmental Impact

Digital asset tagging supports sustainable practices by promoting resource efficiency. Extending the lifespan of furnishings and
optimising their use reduces the environmental impact of frequent replacements and waste.

This aligns with ESG goals, contributing to a more sustainable operation and minimising the carbon footprint of real estate operations.

Social Responsibility

Efficient FF&E management through digital asset tagging improves residents' quality of life. Well-maintained and modern furnishings create a comfortable and appealing living environment, enhancing resident satisfaction and well-being.

This social aspect of ESG builds a positive reputation and fosters a sense of community within the property.

ESG at LOFT

Governance and Transparency

Digital asset tagging promotes transparency and accountability in asset management. Detailed records of all furnishings enable operators to provide clear and accurate reports on asset usage, maintenance, and sustainability efforts.

This transparency is vital for meeting regulatory requirements and demonstrating a commitment to responsible governance.

Transforming Furniture Management

At LOFT, we recognise that integrating digital asset tagging into furniture management is not just a trend but a necessity.

It represents a shift towards more efficient, sustainable, and resident-focused operations.

For developers, operators, and managers of multifamily housing, single-family homes, and student accommodations, embracing digital asset tagging is a strategic move offering substantial long-term benefits.

The way forward - LOFT x MyTag

By leveraging technology to manage FF&E, operators can enhance operational efficiency, stay on trend, forecast costs, and contribute positively to ESG criteria. This holistic approach ensures properties remain competitive, attractive, and sustainable in an evolving real estate landscape.

In conclusion, digital asset tagging is a transformative tool for managing furnishings and FF&E in operational real estate. Its impact on efficiency, sustainability, and resident satisfaction underscores its importance in modern property management. Embracing this technology is an investment in better asset management and a commitment to a sustainable, responsible future.

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