Residents now consider high-tech amenities a significant factor in their leasing decisions. This isn’t a trend. Technology that operates seamlessly and enhances the renter experience has moved from a feature to a core expectation for renters, according to the Satifacts 2025 Biennial Online Renter Study. For owners and operators, this presents an extraordinary opportunity to create communities that residents love and generate substantial returns.
The New Reality: Technology Is a Lifestyle Essential
Multifamily is witnessing a generational shift in resident expectations. Modern renters, who are increasingly made up of Gen Z, grew up in a digital world where convenience, connectivity and control are a part of their daily lives. When they search for a potential new home, they’re assessing how well the community fits into their connected lifestyles, in addition to location and square footage.
These changing preferences are a catalyst for competitive advantage. Communities that embrace high-tech amenities are moving beyond meeting resident expectations, exceeding them and creating the kind of loyalty that translates directly to the bottom line.
Revenue-Driving Amenities That Matter
Every successful transformation begins with understanding what residents value most. Remember, they’re looking for more than four walls and a roof, seeking out a seamless living experience. These are the amenities and features they most desire:
Smart-Home Features: Smart-home technology has evolved from a luxury to a necessity, with residents viewing programmable thermostats, smart locks and app-controlled lighting as standard. In addition to enhancing convenience, this group of amenities demonstrates a community’s commitment to modern living standards. Smart-home technology has a dual benefit. Residents receive greater personal control and efficiency, while owners experience a reduction in energy costs. It’s one of the best examples of tech creating value for all parties.
Property-Wide WiFi: Reliable, high-speed internet has become part of basic infrastructure. With some working from home and almost all residents operating connected devices for entertainment and operating smart-home tech, seamless connectivity is expected throughout a property. Communities that offer robust WiFi eliminate a major pain point in the resident experience.
Connected Laundry Rooms: For communities that have full laundry rooms and ones that offer industrial machines for larger, bulkier items, a coin-operated machine won’t cut it. Residents are looking for a feature-rich laundry experience that allows them to pay with their smartphones and gives them notifications on machine availability and cycle progress.
EV Charging Stations: Electric and PHEV sales continue to appeal to consumers, and residents are actively seeking communities that support this lifestyle choice. EV charging stations present as both an amenity and a potential revenue stream. Residents will appreciate the convenience and pay for charging. They also allow communities to market themselves as forward-thinking.
On-Demand Services: Services such as trash valet and customized package delivery transform everyday inconveniences into seamless experiences for residents. They can create multiple revenue opportunities while dramatically improving resident satisfaction.
ROI Metrics That Matter
Incorporating modern technological amenities into communities brings numerous benefits that can make them more appealing and improve how smoothly they operate. By embracing these innovations, communities can boost occupancy, support higher prices, lower turnover costs and create new sources of income.
Increased Occupancy Rates: Communities with comprehensive tech amenities can achieve higher occupancy rates. When residents have multiple compelling reasons to lease from a community, vacancy periods shrink and leasing velocity increases.
Premium Pricing: Tech-enabled communities command higher premiums for rent, and 83% of renters feel these higher costs are worth what they receive. Communities will find that renters are happy to pay for amenities if they enhance their daily lives.
Reduced Turnover Costs: With turnover costs ranging from $1,000 to $5,000 per unit, retention is critical to controlling costs. When residents are happy with where they’re staying, they’re more likely to return, significantly reducing that expense.
Ancillary Revenue Streams: Tech amenities can create ongoing streams of revenue via usage fees, premium service tiers and partnerships with service providers. In addition to boosting a community’s financial position, it can also raise its appeal.
Tech amenities have become essential differentiators. Properties that embrace this reality and implement thoughtful technology solutions create sustainable competitive advantages. Owners and operators should approach adding tech-based amenities as an investment in revenue growth, rather than an expense. Succeeding in this new landscape creates exceptional resident experiences, drives loyalty and boosts financial performance.