Enhancing resident lifestyles

Smart home technology has the potential to significantly enhance lifestyles in a number of ways:

1. Convenience: Smart home technology allows you to automate routine tasks such as turning off lights, adjusting the thermostat, and even ordering groceries. This can free up time for more enjoyable activities and reduce the stress of daily life.
2. Energy Efficiency: Smart home technology can help reduce energy consumption by automatically adjusting lighting and heating/cooling systems based on occupancy and time of day. This can lead to significant cost savings on utility bills and reduce the environmental impact of daily living.
3. Comfort: Smart home technology can enhance lifestyles by monitoring humidity levels, and adjusting temperature to create a comfortable environment that is energy efficeint.

Overall, smart home technology can make daily living more convenient, efficient, and enjoyable.

Using smart tech for leasing and maintenace

Smart technology can play a significant role in making leasing and maintenance more efficient and convenient. For instance, smart locks can be used to provide access to rental properties without the need for physical keys. These locks can be programmed to grant access to specific individuals for a set period, thus eliminating the need for property managers to be present to provide keys or to change locks between leases. Additionally, smart home devices can monitor and report on maintenance issues, such as leaky faucets or malfunctioning appliances, before they become more significant problems. By using smart tech in leasing and maintenance, property owners and managers can streamline their processes and enhance the tenant experience by providing a more seamless and hassle-free renting experience.

Considerations when choosing a smart apartment platform

Choosing a smart apartment platform can be a daunting task, as there are many options available in the market. However, there are a few key factors to consider that can help make the decision easier. Firstly, it’s important to assess your needs and determine what features are essential for your lifestyle. For example, if you prioritize energy efficiency, you may want to look for a platform that allows you to control and monitor your energy usage. Additionally, you should ensure that the platform is user-friendly and easy to navigate, with a simple interface that can be accessed from your mobile device. Finally, consider the integration options with other smart home devices you may already have or plan to get in the future. By keeping these factors in mind, you can make an informed decision and choose a smart apartment platform that suits your needs and enhances your living experience.

Software and Hardware Integrations

What Property Management Software (PMS) is your company currently using? If you manage a portfolio, a smart apartment platform will seamlessly integrate with multiple PMS systems. In the not too far future, leasing teams will be able to move a new resident in without even meeting them. Qualification forms are filled out online. Then smart technology can pass new smark lock credentials to the unit. The resident moves in. Now that is seamless.

Hardware integrations, like smart access readers for buildings, enhance security and allow communities to offer self-guided tours. Prospects and residents are granted access via their smart phone. Simply wave you hand over the access reader. Credentails are varified and acces is granted or denied. A smart apartment system makes this all happen.

Multiple Benefits of Smart Lock Access

Smart technology is really important right now. Especially in Class A properties. Prospective residents are looking for modern amenities that include smart lock access. It makes access convenient for residents and for management teams. Smart Locks also allow property site-teams to save precious time by not having to go back and forth to retrieve keys to access units. This convenience can also be extended to painters, carpet installation vendors and other contractors, who can be given temporary access while running turn work in the apartment. This frees up office and maintenance managers so they can focus on their residents and increasing occupancy.

2Bayshore Apartment Community, in Tampa FL, saved 618 site team hours per year by implementing a keyless apartment system. A significant amount of time was also saved during site fire inspections. By assigning temporary access codes to the fire department, inspections for 367 apartment homes were completed in half the time.

Beyond convenience, smart locks improve security. Operator can now qualify for insurance discounts. “Our insurance company has a checklist that includes all the different programs you have in your building. One of them is cameras. Another is access control. We receive points for each of the systems we have in place,”says Zion Perets, vice president of development at CGI, in an article in Multifamily Executive.

Connectivity

Connectivity should be near the top of your “smart property must-have list.” It allows property managers to use data from the building as a whole. The strength of the connection to IoT devices, like smart door locks, is paramount. You can invest in an IoT network infrustructure and connect with community Wi-Fi. However, this route can be expensive. At times up to hundreds of thousands of dollars. Luckily, leading smart apartment platform providers have a second option that is less costly.

A smart hub thermostat with built in cellular connectivity eliminates the need for a costly network infrastructure. Now  The one shown here uses CAT M1 cellular technology that was built specifically for IoT projects. Not only will it connect to smart home devices in the apartment, but it will push out and collect data that your management team needs to make better decisions.

Smart Hub Thermostat with cellular connectivity

1. No costly network infrastructure needed
2. Commercial grade smart thermostat, built for multifamily
3. Asset protection & proactive maintenance built in
4. On-screen resident engagement
5. Quick installation/setup for retrofits and new construction

Multifamily Industry Experience

Over the years, the number of smart technology provider options has increased dramatically. Most stem from technology companies that offer single-family smart home solutions and are now looking to enter the multifamily space. To find a supplier who truly understands multifamily rental housing, it is important to make sure you deal with a provider that already has strong cleint partnerships.

Ask about these topics:

1. Connectivity without need for a IoT network infrastructure
2. Cellular connectivity
3. Seamless hardware and software integrations
4. Onsite training should be included
5. 24/7 white glove support

Smart-home living experience continues to gain momentum in communities

Technology solutions, like iApartments smart apartment platform, offers owners a turnkey approach when retrofitting or developing new construction. The technology includes access control for buildings and resident units. When a resident signs a lease, front-door entry through codes that are automatically assigned to that particular resident and unit. Rekeying locks are no longer necessary and  leasing teams are able to quickly move residents in and out. It’s quite efficient and a lifestyle upgrade for today’s renter.

Predictive analytics for HVAC health help reduce energy costs and enable maintenance teams to understand critical components that are beginning to fail and require attention before they break the budget. Leak detection devices alert maintenance of potential trouble in homes before it becomes unmanageable.

The platform integrates seamlessly with leading property management systems and is supported by a dedicated installation team once activated. Its touchles access allows properties to streamline leasing through self-guided tours.

A full suite of smart devices offer an enhanced lifestyle and added value

“Our residents now have keyless entry, smart thermostats, smart light switches, and leak sensors in their homes, which offer convenience, energy and cost savings, and asset protection,” said Linda Coburn, VP of Asset Management at NexMetro.

“We can now offer the lifestyle upgrades, which set us apart from the competition while adding value to our Avilla communities.

Article published in Globe St. Real Estate Forum

By Paul Bergeron

About Paul: Communications executive, industry influencer, content strategy consultant and journalist with a proven record of leading teams in digital content creation, Thought Leadership strategy, public relations and media relations on behalf of Fortune 500 corporations, technology and software companies, associations and nonprofits.

We’ve pulled together some highlights from NMHC’s national survey and additional tenant prefernece data to help operators understand what renter want in 2023 and beyond. Considerations like location might not be as important anymore. Does the property offer touring alternatives? How important is technology to renters today?

The National Multifamily Housing Council recently released survey findings from over 221,000 renters, living in 4,564 communities nationwide. The survey covers a wide range of topics from resident demographics and leasing decision factors.

Desire to Work from Home

As we all know, the pandemic has changed things, possibly for a very long time. Renters are willing to reposition themselves to accommodate the desire to work remotely. In fact, 25% said that it influenced their decision to move. This means that many renters can consider living farther away from the office. Today, 27% of renters work from home every day, and another 23% of renters work from home at least one day a week. Additionally, a Gallup survey found that 5 in 10 people are working hybrid or remote, while only 2 in 10 are entirely on-site. And this is expected to grow.

Why are renters moving? The survey shows that 49% are looking for lower rents, 29% want better amenities, and 28% say they want more living space.

Option to Tour a Property Alone

Another pandemic inspired change has taken hold and has been steadily increasing in popularity. This year the survey found that 39% of prospective renters chose to take a touchless self-guided tour as they searched for a new home. When ask how they would prefer to tour their next apartment community, 26% of renters said they would prefer the self-tour option, without a representative present. This statistic has increase 10% since 2016.

This touchless tour option has not only been beneficial for apartment seekers, but it has provided much needed improvements in efficiency for property management teams. As teams are running leaner, operators a turning to smart technology. Devices like smart locks and building controlled access allow prospective tenants to tour the entire property and unit with ease. Many properties use this technology to extend touring hours in the early morning and after work hours. It’s a win-win. Leasing teams can meet the prospect after the tour to answer questions and close the lease.

Willingness to Pay Extra

An additional sense of security can go a long way. It may not trump price, but it will influence a final decision for prospective renters. The NMHC survey states that 71% of tenants are interested in controlled building and amenity access with 20% citing it as a necessity when considering where to rent. Renters are also interested in controlled parking. 28% say it is a necessity and they will pay an additional $36 to their monthly rent.

In terms of the actual rental unit, 59% of responders say they are interested in smart locks on their apartment front door. Forget physical keys. The modern renter wants to control everything from their phone and use access codes. Smart access gives them the ability to send temporary codes to home cleaning services like spruce, or to mom when she comes into town. Owners benefit by eliminating the overhead of key management.

Apartment tech is Important

An additional piece of survey data says 62% of younger renters say apartment technology is extremely important to them when searching for a new home ButterflyMX survey.

Everything from apps, like Moved, that streamlines the moving process for residents and leasing staff to smart apartment locker systems with automated package notifications, technology is making life easier. The request for tech that allows you to control your home from anywhere is more popular than ever. Smart thermostats are filling the need for better energy management and efficiency.

Lifestyle Amenities Matter

27% of renters say the biggest benefit of renting is because of the lifestyle amenities offered. Apartments that offer a connected community experience like, controlled guest access, community wi-fi, and shard workspace are in demand.