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Adopting Tomorrow’s Technology for Multifamily Properties

Modern technology has become an essential component of successful new developments. During our panel discussion, experts spoke about the importance of researching hardware decisions for multifamily units with a focus on non-proprietary or wellthoughtout proprietary solutions and how to create centralized seamless system integration. Additionally, they highlighted the advantages of remote access to smart appliances for sustainability initiatives and discussed how technology can simplify tenant’s daily tasks and improve quality of life. 

The benefits of in-unit technology extend beyond revenue generation. Smart home features streamline daily tasks, advanced security systems ensure resident and property safety, while seamless digital connectivity enhances communication and entertainment options, meeting the demands of tech-savvy residents. Additionally, energy and water management systems can be used to help renters save on utilities, as well as help buildings adhere to more strict code regulations in certain states. 

Promoting resident health and well-being is increasingly prioritized in new construction projects through the implementation of technology like advanced air filtration systems, ensuring cleaner indoor air, and contributing to overall well-being. Cutting-edge technology within each unit is tailored to accommodate buyer lifestyles, enhancing the overall appeal and desirability of residential properties. 

Future-proofing with the goal of centralization 

Installing future-proofed technologies allows smart systems to easily adapt to new tech advancements and tenant needs. This ensures that spaces built today will remain attractive for years to come, saving property managers and builders the hassle of frequent updates and renovations. Future-proofing ensures that smart tech can be seamlessly added or updated as newer products are released. Builders must prioritize flexible vendors, ensuring compatibility with a wide range of devices. By investing in adaptable platforms, property managers can confidently market their units, without having to worry about constant hardware revamps, especially in situations where tenants are moving in or out. 

The trend towards centralized models within in-unit technology is becoming increasingly clear, according to the panelists. Centralization’s benefits are all offered from a single space; using a concessive app to see and manage multiple systems at once. This is beneficial for multifamily developments, where property owners can control all the major systems within their units.  

Choosing the right platform is essential—one that can seamlessly integrate various hardware options and provide a centralized management interface. It’s important to avoid hastily adopting instant solutions and instead focus on future adaptability and avoiding vendor lock-in. 

Enhancing sustainability with smart solutions 

Smart property technology is not just a trend; it is a way to ensure that your projects stand the test of time. Sustainability is not just about following rules; it’s about saving resources and costs. By leveraging the right technology, builders and property managers can meet regulations and reduce expenses. Researching or finding expert guidance helps navigate market differences, ensuring choices align with project goals. Collaboration and data-driven insights are key to staying ahead and building for the future. 

Sustainability in smart property technology varies from one project to another, requiring a serious approach from builders. Understanding this diversity is crucial for making informed tech decisions. Sustainability goes beyond simply meeting regulations; it’s about optimizing resource usage and cost-effectiveness. Using smart technologies, like energy-efficient thermostats, can help meet environmental requirements and regulations. Through data-driven insights, builders can effectively tailor sustainability practices to address the unique requirements of each project.  

In the future, as codes become more strict regarding sustainability, these decisions will become increasingly important for new buildings. In multifamily units, residents would be able to see their unit’s sustainability insights, allowing them to make changes or manage their resources effectively. For example, certain centralized controls would allow a resident to save water or energy from the click of a button on their phone, after which, the smart technology would respond to make the necessary changes. These measures have the potential to affect the environmental impact of multifamily housing, reducing urban sprawl, as more people can live in smaller spaces that are managed efficiently by smart technology, creating a more sustainable and livable choice for residents. 

Ensuring Safety in Smart Properties 

When considering the future of smart property technology, safety becomes a major concern. Many multifamily properties have begun to plan for operation without on-site staff, as security becomes a key consideration for property owners and tenants. This is important throughout the entire implementation process, for example, allowing access to properties remotely. If there is any error in the software or hardware, there needs to be a plan in place to effectively combat said problem. Creating systems that protect residents not only ensures safety but creates trust and goodwill between property owners and residents. These security systems could handle several tasks, like managing repairs by allowing entry to workers, facilitating security in empty units, or even operating tours for leasing. 

Efficiency Without Sacrificing Functionality 

Within property development, it is important to integrate technology and functionality effectively. With evolving communication preferences, there is a growing focus on proactively using technology to meet residents’ needs. Managed Wi-Fi systems demonstrate this by offering seamless connectivity throughout amenities and units, streamlining interactions, and enhancing resident satisfaction.  

Additionally, upon reviewing infrastructure investments, opportunities for cost savings become apparent. By reevaluating cabling needs and eliminating redundancy, builders can achieve significant efficiency gains without sacrificing functionality, leading to more sustainable multifamily property management practices. Examples of this include actively thinking about the future of cable connectivity. Do your plans include the same amount of coaxial access points from 20 years ago? Do you need as many ethernet ports if you are implementing managed Wi-Fi systems? 

Embracing Innovation to Meet Residents’ Needs 

Moving forward, sustainability is a top priority. Advanced technologies such as smart thermostats and demand response systems improve resident comfort while promoting eco-friendly practices. Embracing these innovations enables builders to meet the changing needs of their residents while aligning with sustainable principles, ensuring a brighter future for both residents and the environment. 

The insights shared during the discussion highlighted the exciting potential for technological innovation within multifamily properties. Builders looking to enhance the resident experience and streamline operations will find valuable guidance in the evolving landscape of property development. From modernizing kitchen spaces with smart technology to maximizing water management systems, the webcast offers essential knowledge for staying ahead in this era of rapid technological evolution and innovation. 

 

This session was sponsored by PointCentral, a subsidiary of Alarm.com. They offer a top property automation platform for multifamily property managers. It monitors and controls smart home technology across all properties via a secure cellular network. Watch our discussion on “The Future of In-Unit Tech” here.

Builder Innovator

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