Investing in Smart Technology for Multifamily Residences

March 19, 2024

Investing in Smart Technology for Multifamily Residences

In today’s world, where over 6.6 billion people utilize smartphones for nearly every aspect of their lives, it comes as no surprise that smart home technology has found its way into the multifamily housing market. A recent survey revealed that 37% of apartment dwellers consider smart home features—such as remote-controlled thermostats, smart locks, and intelligent lighting systems—crucial to their living experience. The evolution of smart home technology is rapidly advancing, making it an essential amenity for apartment complexes.

At REEP Residential, we aim to enrich our tenants’ living experiences by integrating smart home technologies that afford them greater convenience and a personalized living space. We believe that whether one owns their home or rents it, the space should resonate with their personal identity.

Smart Home Innovations at Avenue M Apartments

One of our properties, Avenue M, located in the heart of Houston, Texas, stands as a testament to our commitment to smart living environments. We have equipped the apartments at Avenue M with state-of-the-art smart home features, including smart keypad locks, touchscreen thermostats, and automated lighting, enhancing the quality of life for our tenants. Our community manager, Taylor, showcases these technological amenities through guided tours, highlighting the control and ease provided to residents through a unified app.

In addition to standard installations, we offer our residents the option to further customize their living spaces with additional smart devices available for rent, such as video doorbells, extra smart hubs, motion detectors, and security cameras. These devices can be easily integrated through the Smart Rent app, in collaboration with leading companies like Ring, Amazon, JASCO, and Alloy Home, ensuring access to top-quality smart home products.

Benefits of Smart Homes in Multifamily Dwellings

  1. Attracting a Tech-savvy Generation: Millennials and Gen Zers, leading the renter demographic, prioritize convenience and efficiency, traits that smart home technologies directly cater to. However, the appeal of such technologies is not limited to younger generations alone; older demographics also find value in the convenience offered by smart home devices.
  2. Enhancing Accessibility: Smart home technologies provide essential support for residents with disabilities, offering solutions that make daily tasks more manageable and secure. Voice-activated commands and automated controls are just a few examples of how these technologies can improve the quality of life for individuals with various accessibility needs.
  3. Gaining a Competitive Edge: The inclusion of smart home technologies sets properties apart in a competitive market. Renters now seek these modern conveniences that seamlessly integrate with their digital lives.
  4. Streamlining Management Operations: Smart technologies not only benefit residents but also simplify management tasks. For instance, smart locks eliminate the need and cost associated with traditional key management, enabling easy access control via smartphones.

Looking Ahead

The demand for smart home features in multifamily residences is poised to grow, driven by an increasingly tech-dependent society. By investing in smart homes, we not only cater to current lifestyle preferences but also secure a promising and sustainable future for multifamily living. Smart homes represent not just an amenity but a necessary evolution in the housing market, promising convenience, accessibility, and efficiency for all.

Sources:

https://www.bankmycell.com/blog/how-many-phones-are-in-the-world#part-8

https://www.statista.com/statistics/875040/most-important-apartment-features-for-renters-usa/

https://www.nmhc.org/research-insight/quick-facts-figures/quick-facts-resident-demographics/renters-and-owners/

http://disruption.nmhc.org/wp-content/uploads/2018/01/NMHC-Multifamily-Disruption-Report.pdf

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