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"
To perhaps no one’s surprise, this year’s E3 gaming show, held last week in Los Angeles, was hyper-focused on all things virtual reality, as the gaming industry continues to pave the way to this nasce...
Twenty-three percent of broadband households headed by millennials have completely opted out of traditional pay-TV service for over-the-top (OTT) streaming, a Parks Associates survey found. The perce...
Almost nine of 10 U.S. households have a smartphone, and more than one-third use Wi-Fi calling to stay in touch, according to research by Parks Associates. "To many travelers, including my teenage dau...
Even though major commercial security companies like ADT are still leading the home security market, low-cost solutions are on the rise and retailers play a major role in their adoption. According to...
