Enter your email address for weekly access to top multifamily blogs!

Texas Multifamily Property Management Blog

A little bit of everything property owners need to know about investing in, hiring for, marketing, managing, and finding success with multifamily properties.

Smart Apartments Make Safe Apartments

Smart Apartments Make Safe Apartments

Fire is a property owner’s worst nightmare, but advances in technology could help lower the risk of apartment fires using web-connected appliances. It’s a feature that many tech-savvy young renters are looking for, and it could pay dividends in reducing kitchen fires.

Getting Smart from the Inside, Out

Smart technology allows renters to control appliances and thermostats, set alerts, and control security systems inside the home with a smartphone app. Most apartment fires are started by stoves left on and unattended. If a renter sets up an alert that notifies them when they leave home and forget to turn off the stove, they can quickly turn the stove off with the app. These same apps can adjust a thermostat like Nest to help a tenant save money on heating and cooling, and they can be linked to smart smoke alarms so the tenant is immediately notified when an alarm is triggered.

But, it’s not only what’s inside the apartment that counts. New door lock technology might make keys a thing of the past, connecting smartphones to locks via access code. That could also lower costs for landlords, since physical locks don’t need to be changed when a renter moves out. A new access code for the new renter, and their security is covered.

A Customizable, Step-Wise Approach

Little by little, technology is gaining a foothold in multifamily property management. The good news is that the investor can also incorporate that tech in baby steps. A Nest thermostat and smart door locks might be a good place to start. They’ll certainly increase desirability for younger renters who are looking for smart amenities, and there’s always room to upgrade appliances to a smart set as you replace aging stoves and refrigerators.

Investing just a bit in smart technology today will set your property apart from its competitors, and has the potential to save you big money with an added safeguard against accidental fires.

Rate this blog entry:
This comment was minimized by the moderator on the site

Thanks for sharing! Your blog post offers great insight on smart technology, its benefits and how property managers can integrate it in multi-family properties.

As you explained, smart technology is significantly impacting the multi-family space. A recent survey conducted by Schlage found that millennial renters would pay about a fifth more for smart home technology on average, and 61 percent of respondents said they are likely to rent an apartment because it has electronic access features.

These findings exemplify a key shift among consumers, and property managers can integrate new technology to meet this interest. Specifically, electronic access control systems provide more convenience and flexibility for both residents and property managers. By implementing an electronic access control system, residents can enter their space by using a smart credential, such as their smartphone. Likewise, electronic access control systems also decrease costs associated with key management as staff members can easily grant or revoke access electronically without changing the door hardware.

Do you think renters will begin to see an increased amount of multi-family properties with smart technology?

  Ann Matheis

Comment Below

  1. Posting comment as a guest. Sign up or login to your account.
Attachments (0 / 3)
Share Your Location
I've started reading Mike Brewer's Property Management blog and am quickly becoming a fan. He truly understands the need to utilize social networking to attract and retain residents. He's also recruited Eric Brown of Urbane Apartments to guest blog, who is clearly devoted to turning traditional property management on its head. Good luck guys! Here is a recent post by Eric: http://mbrewer.typepad.com/property_management/2008/04/the-long-tail.html [UPDATE:  Mike has decided to blog here on Mu...
I came across the following quote on the blog Customer Experience Matters today. The quote originally came from the Harvard Business Publishing site where they were showcasing a book called "The Forever War" "One day near Kandahar I came across a minefield, which was hardly extraordinary in itself, and next to it a man named Juma Khan Gulalai. The field was bright and green. Gulalai was a butcher and he’d set up his table there, his apron and knives at the ready. Every day, ...
First of all, I want you to know that I am all for technology.  I have a cell phone, a laptop computer, voicemail, an email account, and a Facebook account.  I love that I have access to information and can communicate with the touch of a finger.  I love the fact that I can communicate with someone across the country in the middle of the night if I want to.  It is amazing.Now for the reason for my post today - I am so sick of not being able to talk to a live person. &nbs...