In a recent Parks Associates study, residents consistently provided higher ratings for properties that provided smart home devices versus those that didn’t. Roughly 74% of participants* rated energy savings from the ability to remotely control appliances and being able to monitor their homes as “High Value” and were willing to pay more for it.
While 84% of property managers showed intent to install internet-connected devices within the next 12 months**, the ability to integrate with their management systems, ease of use, and reliability remain key concerns for their decision to invest in smart technology.
Parks Associates identified top vendors in the MDU market, leaning on conversations with MDU owners, operators, and property managers to learn what they are looking for in their partners. This includes features but also leans on additional factors, including integration, reputation, and customer service.
*What Residents Want: Demand for Tech in Multifamily," Parks Associates, 2022
**What Property Managers Want: Opportunities for Tech in Multifamily," Parks Associates, 2022
From the article, "Smart Technology for a superior customer experience" from National Apartment Association
According to Parks Associates, nearly 20% of U.S. broadband households own a smart home device (smart thermostats, networked cameras, smart video doorbells, smart door locks, smart lighting devices, o...
At this pace, the total 360/VR camera category will be a “niche within a niche” of the larger action camera market, Gill predicted. Greater adoption is currently inhibited by the cost and hassle of pu...
“Content is a difficult enough business to turn a profit, but Amazon’s key advantage is that its business is so incredibly diverse. From Amazon Studios to Amazon Web Services to its retail operations,...
Finally, another contributing factor to the in-home renaissance is the growth of smart-home adoption. According to Parks Associates, 19 percent of U.S. broadband households plan to buy a smart major a...
