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"
Amazon doesn't publicly disclose how many Amazon Prime members it is the U.S., or globally for that matter. But late last year, research company Parks Associates published data suggesting that Prime V...
New research from Parks Associates reveals a surge in smart lighting adoption among US internet households, with 13% using smart light bulbs and 6% employing smart lighting control systems. Parks A...
According to a recent whitepaper by Parks Associates, “72 percent of smart home product owners are concerned with the security of personal data collected by their devices.” From the article, "Are C...
Currently, 51 percent of U.S. households have at least one connected health device, according to Parks Associates. Consumer awareness about the shift towards care in the home is growing and a new buzz...
