Real Estate

Property managers can empower multifamily residents with this tech

Living like the Flintstones with ancient cable network technologies, individual provider contracts, and cable boxes is as dead as the dinosaurs. At the same time, the gadget-laden future of the Jetsons has only superficial appeal to today’s consumer market.

The current and next generation of multifamily residents are educated, tech-savvy, and driving the on-demand economy. And since populations are growing world-wide, the growth of the multifamily market is going to become more and more competitive.

Industry leaders see the trend and know that creating a connected community is the next evolutionary step in resident engagement and satisfaction. Providing ubiquitous Wi-Fi throughout their property’s common spaces and high-speed Wi-Fi within their apartments enables the digital native residents to be seamlessly immersed and connected to the larger world, while empowering the smart buildings in which they live.

Smart buildings and connected communities require more than internet connections, however. They also provide their residents with the security and convenience that transforms spaces from an apartment to a home. That can include smart building and unit access, energy management and conservation, immediate and online control of their environment, and the convenience of modern voice controls.

In addition to providing access and a sense of place and home, a connected community needs to provide a continuity of experience. As such, the experience should be intuitive, immersive, and logical. Breaks in functionality are jarring and have a disproportionately negative impact. For example, a Smart Building with smart resident locks but that also requires keys or fobs for the front door and elevators doesn’t feel convenient. Being able to schedule visitors, but not the dog walker, or having to call the front desk to let friends in the building doesn’t sound like convenience, it feels disjointed and unwieldy. It feels incomplete.

Studies show that resident satisfaction increases in proportion to their engagement level and perceived convenience. Providing a connected community is a differentiator today that will pay dividends to owners and operators with the vision and foresight to adopt early. The return on investment is that it brings its own triple bottom line increase—resident satisfaction, increased operating efficiency, and increased profitability.

Those who wait for this to be a base requirement will inevitably be forced to adopt in order to remain competitive. Create the community your residence crave, and not simply the building where they live. Contact us or learn more.

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