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"
Parks Associates research shows that 23% of U.S. smartphone owners also own a smart home device and over three-fourths of those consumers use their smartphone, tablet, or PC to control their smart hom...
This suggests that Apple is actually doing nicely when it comes to its share of just the external set-top box streaming media player market; indeed, Parks Associates reveals that Apple TV is pretty mu...
Luring and keeping customers is becoming harder as the online streaming market gets more crowded and subscribers, freed from cable television’s contract model, can cancel service with a click of the m...
Indeed, Starbucks, Dunkin’ Donuts and even Taco Bell have all associated significant sales boosts with their mobile payment apps. Now major retailers outside of food service are testing the technology...
