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Commercial real estate in Canada has entered the tech age

Drones are bringing deals into the 21st century in a big way. These days, investors interested in commercial real estate in Canada are able to get a bird's eye view of the properties in which they're interested thanks to flying contraptions called drones. In terms of real estate, it's marketing genius.

Once the deal on a property has been inked, the drone's job isn't necessarily done. Property owners are using them for identifying potential building problems and even to check up on tenants to make sure they've haven't made any changes to the building. Drone operators say videos and photographs that come from these ingenious pieces of technology give a more well-rounded picture of properties -- in many cases in 3D. These stills and videos can also be used for insurance purposes.

Using a drone isn't all that simple when it comes to legalities. There are certain rules operators have to follow when enlisted to use a drone for real estate purposes. They have to adhere to Transport Canada rules, which has clear and defined stipulations when it comes to air space. If operators are going to use drones commercially, they also have to get a Special Flight Operations Certificate (SFOC).

There are high-tech ways to drum up business today in the commercial real estate world. Yet, with all the new-fangled gadgets on the market to make property investment easier, it's still important for purchasers and vendors to understand the legalities of real estate. That's where experienced legal counsel would come in handy to offer insights regarding real estate transactions and the law.

Source: westerninvestor.com, "Drones deliver fresh view on commercial real estate", Baila Lazarus, Jan. 8, 2018

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