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
The technology industry is captivated by titans fighting over voice-activated home speakers. The war among Amazon, Google and Apple is technology's newest frontier, but it's also pretty small potatoes...
Starting simple with AI technologies, there are recommendation engines: "Early low-hanging fruit for brands to harness the power of AI is in content discovery,” Glenn Hower, senior analyst at Parks As...
Despite the relatively high cost, 2 million smart door locks will be sold by 2021, according to a new study by Parks Associates. Annual sales from the devices will increase from $207 million this y...
Apple is seeking to revive its video ambitions with the new product. Apple TV trails devices from Roku Inc., Amazon.com Inc. and Alphabet Inc.'s Google in the U.S. set-top box market share with only 1...
