Smart Apartments - it’s Your Next Smart and Simple Decision
November 16, 2020
When was the last time you left home without your cell phone? Perhaps the very thought of that alone elicits anxiety. That’s because technology, particularly at your fingertips’ access, continues to be at the center of nearly everything we do.
Consumers have become accustomed to technological advancements. They want and expect an experience that is easy, safe and enhances their daily life. In the last 20 years, we have experienced how innovative change agents can completely transform social norms and behaviors. Facebook changed the way people stay connected. Netflix changed the way people consume entertainment. Amazon changed the way people shop.
Are you ready to change the way you manage your multifamily properties? Because the population that is seeking to rent is different now and they have different expectations. More specifically, those expectations have evolved around what they want from their apartment home, leasing community and rental experience in general.
The amenity game is changing.
Amenities are defined not by the property owner’s determination of luxury, but what is actually sought after by the consumer. By offering the conveniences that people are actively seeking when looking for a place to live, you remain relevant and more importantly, in demand.
With a growing number of people renting, it makes sense to pay attention to those demographic groups and what they value. When you look at the population most likely to rent, adults age 35 and younger, they hardly know life without technology. But across the board, renters are looking for an enhanced living experience and the benefits that smart apartments bring.
Reliance on technology is real. Our current state reflects just how important reliable and secure internet access is.
We are also living in an age of convenience. Residents don’t want to be bothered by dropped calls, network interference or lagging in their streaming capabilities.
Creating a smart apartment starts with connection infrastructure. Homes are becoming the hub and hotspot for work, entertainment and socializing, signaling a greater need for seamless connectivity. Providing universal Wi-Fi is a value add enhancement that gives the renter what they want and benefits your bottom line.
Naturally, there is an initial investment for a property owner to establish an internet everywhere infrastructure, but the long-term return on that investment is clearly worth it. Residents paying you directly for the service increases your revenue and ROI. Not to mention a more reliable network avoids connectivity issues and instability, thus improving renter experience.
Lost keys and the hassles that come with them can (and should) be a thing of the past. Replacing keys or changing locks can be untimely, expensive and bothersome.
Smart locks and remote access control strengthens the sense of convenience, security and safety for both the renter and property manager. Access codes can be issued to the resident when they move in. If needed, they can easily share codes with a visiting family member, a house cleaner or even a maintenance person. With a system that logs activity, residents feel more informed, in control and secure. Then codes can be terminated just as easily when there is tenant turnover.
This is also a great example of how smart home technology gives the property owner the opportunity to increase rent revenue, but also reduce overhead expenses. No longer will you have to pay for the necessary supplies or maintenance personnel to replace keys and/or locks. Smart lock codes can be changed wherever and whenever (even the middle of the night) conveniently and cost effectively.
There is a growing emphasis on energy efficiency and the high tech features that make it possible.
Smart thermostats are user friendly and offer residents the opportunity to establish temperature schedules as well as make impromptu adjustments from wherever they are.
For property owners, the remote access and increased ability for utility management reduces the cost of operating a vacant unit. Smart thermostats also provide owners a broader perspective of energy utilization across the property. The cost of installing a smart thermostat is minimal compared to the savings on energy and operational expense you will experience over time.
A smart decision.
Whether you are building new or restoring, smart home technology is a trend you cannot ignore. And nor do you want to. The financial investment on the front end yields the dividends you desire for the long haul.
Technology has revolutionized the way we live. The time for smart apartments is now.
With Simplifyy, everything is in sync. The smart technology and the support are all in one. And our fully integrated management system makes owning smart apartments easy.