The era of smart apartment technology has already begun and is advancing like no other. Sales of the smart devices and systems are achieving momentum, thereby providing the occupants increased control over the homes. This implies that smart apartment technologies have led to better home security as well as opportunities for the renters to cut down costs. This has also benefitted the landlords in numerous ways.
As a result, many builders are becoming interested in smart apartment technology to enhance the lives of their residents. Norhart, has recently been recognized for their innovative use of technology as they are one of the first in Minnesota to roll out a smart apartment. Opening May 1st, will be their second smart apartment.
By the year 2022, the whole smart apartment market would most expectantly encompass near about 1.3 billion smart devices. This ever-increasing presence would soon become very big and very advantageous for the multifamily real estate investors to avoid. The new apartment building that will open May 1st, with smart apartment technology can propel residents, improve property management, reduce tax and insurance payments.
The Rising Demand for Smart Apartment Technology
Residents can easily find and obtain smart apartments that are equipped with the latest and most advanced smart devices. The most popular smart apartment devices among the consumers are the video entertainment systems, such as the smart adapters and TVs like Amazon’s Fire TV and Google’s Chromecast. Smart Speakers are also in the trend and are installed easily in the apartments that possess the necessary electronic infrastructure. Apart from all this, the popularity and demand for smart home security and monitoring devices are also rising.
Smart apartment technologies such as smart lighting and smart thermostats provide increased comfort and cut down energy costs. The residents can now turn on their home appliances using their mobile devices, thereby saving costs by lowering standby consumption.
Smart apartment technology is now dominating the marketplace and is here in order to stay. Near about 50% of the renters between the age groups, 26 to 35 said that they would more likely rent an apartment with smart features. It’s expected that the number of renters liking smart apartments is likely to keep on growing.
The Advantages of the Smart Apartment Technology
Real estate managers can impressively benefit from smart apartment technology. The use of the smart thermostats will keep the common spaces and vacant units at energy-saving temperatures while the smart lighting will lower the power usage. The CCTVs have proved to be very beneficial in managing the security of the residential areas more effectively. The smart locks let the occupants go keyless and help them in increasing control over which people can access restricted areas and other vacant units. Many of the smart devices can even collect data on energy consumption for system analysis and optimization.
The property owners are very much sure that the smart apartment technology has already achieved a lot of popularity among the present residents and would continue to be a much-demanded asset in the years to come. The use of smart technology is increasing rapidly, and the multifamily landlords are paying close attention to this.