Multifamily companies that deploy smart thermostats in common areas of their properties report energy cost savings of 18% to 20% annually and 20% to 30% reduction in energy use, according to a new white paper from Parks Associates, in partnership with SKBM SmartTech.
"It can be difficult for companies to determine the best strategies and benchmarks to measure ROI from smart building solutions, so naturally many properties are hesitant to make such large-scale investments," says Kristen Hanich, research director, Parks Associates.
"Our research and interviews show smart building technologies, when properly deployed and managed, can have significant positive impacts on operations and resident satisfaction, so it is important to take the guesswork and uncertainties out of these deployments."
Parks Associates found that smart amenity packages are increasingly expected by residents and potential residents. "ROI for smart apartment amenities varies. In select markets, these amenities may be necessary for residents to consider renting at all. In others, they may result in lifts to rent ranging from 5% to 10%. These solutions commonly have a three-year payback period," the white paper reads.
From the Multifamily Executive article, "Multifamily Properties Are Seeing Greater ROI From Smart Tech"
Smart home technology that has long been knocking at doors will settle into the mainstream after rival gadgets and services become hassle-free guests that get along with one another, industry insiders...
Marketing for RecycleHealth got an unexpected boost from an applicant to the digital health communication certificate program, who volunteered her design skills and did a photo shoot of donated device...
Mobile payments are still an up-and-coming new capability for consumers; while mobile banking has clearly led the way, there’s still a lot of interest in mobile payments at least in some fields. Wh...
Parks Associates has hosted the final day of the company’s 20th annual CONNECTIONS conference in San Francisco with panel discussions moderated by the firm’s analysts and featuring executives from com...
