Modern Smart Home Must-Haves in the Multifamily Space

Smart home tech in multifamily communities is quickly becoming a must-have for today’s discerning renter, and with good reason. The right technology can play a significant role in improving residents’ experiences and enhancing the ease of operations for onsite staff.

Many of today’s easy-to-use tools improve the efficiency of property management. These modern conveniences also lend to a positive experience for tenants, providing them with more comfort and control. Smart home technology not only provides improvements that residents crave, but many tech solutions also come with the added benefit of reducing costs for the building owner and property manager.

Smart Access

Smart access begins with smart locks, which can be used in many ways and are appealing to owners, on-site staff and residents alike. These smart features provide a wealth of benefits for all:

- Smart Locks Save Property Owners Money - Owners don’t have to worry about paying a locksmith to change out locks or keys between residents. Leasing agents no longer have the frustration that comes with finding the right key or fumbling with a pesky lockbox. And, in addition to saving significant time and money on key tracking systems that cost thousands of dollars, this eliminates physical keys getting lost, being replaced, and keeping track of them as residents move in and out.

- Smart Locks Save On-Site Staff Time - At one point or another, on-site staff has had to help a resident who is locked out after hours. Smart locks eliminate this issue because residents can simply use their smartphones or enter their access code to unlock their units. Management can also allow vendors like painters or carpet layers access to vacant units with these temporary codes, which is more secure.

- Smart Locks Provide Enhanced Security – Residents can set their own passcodes and typically have access to their homes right from their smart phone. They no longer have to worry about whether they remembered to lock the door, because they can make sure they did—or lock their home—right from an app on their phones.

Smart Asset Preservation

One of the most overlooked benefits of added tech in a multifamily unit is the provided asset preservation. Much of the technology offered helps keep your buildings and units in tip-top shape whether they’re occupied or not. Today’s smart home technology allows for things like water sensors that immediately detect leaks and excessive humidity that can be damaging to a property if not fixed quickly.

Smart Sustainability

The smart sensors allow properties to collect energy consumption data for the full building— both vacant and occupied units— and track that data over time to determine carbon footprint impact. That data can then be used to adjust to lower impact. Smart thermostats not only provide residents with the ability to directly control the climate in their unit from virtually everywhere, but they are also extremely energy efficient, saving a ton of money and wasted energy.

December 13, 2022. Realtor Magazine. Modern Smart Home Must-Haves in the Multifamily Space.

Retrieved from: https://www.nar.realtor/magazine/real-estate-news/technology/modern-smart-home-must-haves-in-the-multifamily-space

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