Smart Technology & Multifamily Communities: A Win-Win
When deciding on which amenities to include in your multifamily community, considering the preferences and demographics of the renters in your target market are key. While some amenities are more important to renters than others, having a “smart” home continues to top the list of most requested amenities.
In today’s competitive multifamily rental market, learning what amenities your residents want in their home environment and delivering them is the key to a long and successful relationship. Less turnovers, maintenance requests, utility cost savings, and time saved make any property manager’s job easier. Consider increasing property efficiency and attracting and retaining residents by learning more about the top-requested amenities that make up a smart home:
Smart Leak Detection Devices
The Flume 2 is a wireless whole-home smart water monitor that connects to your phone and Amazon Alexa to detect leaks and tell you how much water you’re using. The system can detect systemwide leaks and provides daily, weekly, monthly, and yearly water usage reports. The Flume 2 doesn't require any plumbing work, nor does it need a power source. Simply strap it on to your water meter and download the app to see how much water you're using and determine if there are any leaks. In a multifamily community, the savings provided from spotting a leak before it becomes a major problem cannot be understated. Not only will your residents save on water costs, but owners will save on costly maintenance repairs caused by an undetected leak.
Looking for a system with more bells and whistles? The Flo Smart Water Shutoff valve - working in conjunction with The Flo by Moen, does everything The Flume can do, plus automatically shuts the water off for you upon leak detection. The Flo sends an immediate alert to your smartphone that a leak has been detected, while preventing further damage to your property.
Providing smart locks such as dormakaba Saffire on unit doors allows residents to lock and unlock their doors with their smartphones. Not only does this ensure that the resident will never be locked out of their unit by forgetting a key, it also allows them to send digital access codes to visitors. Installing smart locks in shared amenity spaces such as gyms gives residents security and convenience in one pop.
Smart thermostats like the Nest system are extremely popular among residents because it allows them to remotely control their temperature settings from a smartphone, which in turn saves money on energy costs. The smart thermostat benefits property owners and managers too. By reducing the energy consumption in vacancies, a substantial savings can be incurred. Nest smart thermostat actually learns your patterns and adapts itself to your routine. After just a week’s use, it adjusts itself to your schedule. Learn more about Nest here.
Smart Access Control
Smart Access Control at the point of entry is one of the most effective ways to give residents a much greater sense of convenience and security . Most residents would agree that few things are as annoying as having to jump through hoops to allow a visitor access. And with security being the highest priority regardless of demographic, a smart access control system puts everyone’s minds at ease. By installing Entry/Exit gates with smart keypads and video cameras like this system from Liftmaster, your access problems are a thing of the past. Adding a smart keypad allows residents to access shared spaces like clubhouses or gyms by entering a Pin code or with their smartphones. Another great benefit is that the property manager can change access with the click of a button in the case of an eviction, or if an area is off limits due to cleaning or pest control.
Video Intercomslike this one from Butterfly MX allow residents to gain access by unlocking doors and/or gates from an app on their phones. Residents can also grant visitors access remotely. The time saving benefit to property managers is huge. No more fobs to program or keys to distribute and collect.
Maestro has designed and installed hundreds of smart building systems and have found that integrating smart technology and security in a multifamily community is a top priority for potential residents, and one that they are willing to pay extra for. By providing these amenities of comfort and convenience, your units are guaranteed to fetch top dollar in today’s competitive market.