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Multifamily is placing more pressure on its maintenance teams than ever before. The scope of the work is growing, as companies increasingly assign the upkeep of multiple communities to a single service crew. Teams must work strategically and efficiently to accomplish more with less manpower.
The age of property technology that solves for only one on-site issue was bright but brief. Multifamily operators quickly recognized that the most powerful drivers of NOI are technology solutions that serve a primary function while also complementing or enhancing other proptech.
Smart home technology allows operators to identify problem areas before they develop into larger issues and pinpoint potential points of failure prior to catastrophic damage. This predictive technology is changing the way property management companies maintain their properties.
The retrofit process requires careful consideration and planning. While the cost savings and improvements made possible through smart home implementation are attractive, missteps in deployment could result in unnecessary expense and performance problems.
The multifamily industry used to be lampooned as being way behind the curve when it came to technology. But in recent years, it’s been exciting to see apartment owners and operators embrace new technologies. Operators are implementing solutions that enhance the resident experience and improve operations.
According to a recent RENTCafe survey of 3,500 renters, 83% of the respondents said they would take a self-guided tour if it was available at an apartment community. The benefits of self-guided tours extend beyond allowing prospects to visit a community in their preferred manner.