Smart Apartment Tech Trends Report

Smart Technology in Multifamily

Industry Trends Report: Smart Apartment Tech

Smart Apartment Technology Trends and What this Means for Multifamily

It is believed that by 2023, 53.9% of homes across the United States will feature some form of smart technology. These technologies are no longer considered just amenities but often dealbreakers for prospective residents.

This report on Smart Apartment Tech Trends will explain the statistics behind smart home technology and how increasing demand has moved beyond solely Class A properties.

Creating Dynamic Product Experiences to Increase Market Share

84% of property managers believe they attract new residents when they install the latest technology inside their apartment homes and 91% of renters strongly believe that smart home devices are necessary. This Smart Technology Revolution is now taking the multifamily industry by storm.

Multifamily Owners who have invested in smart tech may be ahead of the curve.

Changing Expectations

There’s a great misconception that providing smart tech for your multifamily assets can only be done with ease on new developments and lease-ups. Now, residents are expecting these updates for security and convenience.

Saving on Hidden Expenses

Can you control your apartment utilities from a distance? What about manage resident lockouts after hours? All of these expenses can often be resolved by automating apartment technology.

Asset Value Increase

Increasing resident satisfaction ensures that vacancy conversion remains consistent at your properties. It is important to differentiate and offer a unique resident experience to continue to maintain and improve your ROI.