Augmented reality could change commercial real estate

On behalf of admin

By 2020, there could be up to 100 million people in Wisconsin and throughout America shopping with the help of augmented reality technology, or AR. While virtual reality technology has millions of users itself, AR is easier to use because it only requires a smartphone to do so. Instead of creating a totally immersive experience like VR technology does, AR technology simply adds features to whatever a person already sees.

There are many ways in which retailers can use AR to improve a customer’s experience. For example, they could show a customer how furniture could look in their home or how a piece of clothing could look on them. In addition to retailers, the commercial real estate industry may be able to make use of AR. For instance, it may be possible to put interactive advertisements in malls or other retail spaces.

It may be necessary for owners of such properties to put limits on how they can be used. This can help to ensure that commercial property is used properly or that owners profit from any monetary gain tenants derive from using AR in advertising. Terms limiting or defining how AR can be used could be put into lease and other agreements that landlords and tenants sign. Doing so can help them preserve their share of an AR market projected to be worth $133 billion by 2021.

It is not uncommon for commercial landlord-tenant disputes to occur. In many cases, they may be resolved through informal talks or by meeting with a mediator. However, it may still be worthwhile to consult with an attorney about any problems that occur. This may make it easier for commercial property owners to preserve their rights without potentially violating the rights of their tenants as a case proceeds.