Apartment innovation products and services continue to get the headlines in multifamily news.
“PropTech is no longer just a renter preference, it has become the expectation,” Yetta Tropper, head of multifamily asset management at New York–based PGIM Real Estate, says in a recent article from MFE.
PGIM operates 54,000 units in the U.S. and has implemented virtual and self-guided tours enabled by smart locks as well as online screening, fraud detection, and leasing.
“It’s evolving so quickly, it’s important to embrace these changes and stay at the forefront,” Tropper says.
Rachel Davidson, executive vice president at Austin, Texas-based RPM, which counts 84,000 units in its portfolio, tells MFE, “Everyone is talking about tours, which are certainly huge. But online payment solutions, smart home technology, and the complete virtual leasing and move-in experience beyond the tour have become critically important over the past year.”
The FAA event is part of its ambitious fall meetings attendance schedule that later includes the National Multihousing Council (NMHC) OpTech Conference & Expo – Nov. 8-10 National Harbor, Md.
Its highly experienced multifamily team will discuss how self-guided tours are becoming a key channel to capture leads and drive powerful leasing data. It also will focus on the booming growth in smart apartments as an amenity and how it is creating “the easy life” for residents while providing strong NOI from Day 1 for owners.
iApartments has cracked the code to bring a new approach to the “smart community” experience and better serve owners, managers, and residents’ needs. Their intelligent apartment solution employs CAT-M1 cellular technology to deliver a more accessible and more affordable connection to the cloud without a dedicated network.
iApartments has been quietly growing its business in 2021, adding clients such as UBS, Mark Taylor, Merion Realty Partners, Weller Management, Wire Development, and Greystar.
“Many apartment operators do not have the capital or the budget to invest in an [expensive] intelligent apartment program,” said iApartments CEO Dave Magrisso. “We’ve created an intriguing option that works well right out of the box. And, it has allowed our customers to begin generating ancillary income at launch, charging very modest fees for the added convenience the system offers their residents.”
The iApartments team will also attend NMHC’s Annual Meeting Sept. 22-24 in Washington, D.C.
There, it will be onhand to discuss how their next-gen intelligent apartment solution has brought innovation and disruption to the nearly $2 billion (June 2020 Reportlinker) industry of multifamily smart home solution providers. Through a holistic approach to the Internet of Things (IoT) devices, sensors, and predictive analytics, they have built a product and service line to compete with current industry notables.
“With smart home adoption sitting at less than 2% in the [multifamily smart home] industry, I am more thrilled than ever about our timing and position in the market,” said Magrisso. “Both our regional and institutional clients have expressed they are ready to move forward with our platform that fills the voids that they are missing. This opens the door for endless opportunities. Our combination of world-class service and a robust platform built to scale to millions of units will serve us well as we strive to be a household name synonymous with quality and a leader in the smart home or intelligent apartments market.”