Technology is more than just a luxury these days — it has become so prevalent that it’s now a facet of day-to-day life. In order to keep your residents happy, it is vital to keep step with the evolving technological landscape. It can be a valuable approach in taking your apartment community to the next level. If you’re currently seeking the next “big thing”, home automation is the answer.
Already common in large-scale buildings, home automation is anticipated to continue growing over the next few years, becoming a major factor in both the housing and rental markets. These cutting-edge technologies have many benefits to offer renters, and it has the potential to be an efficient tool for property owners as well.
What is Home Automation?
At its core, home automation is a system of customized, networked, and controllable devices that allow you to communicate with your home through a remote control.
Think of it this way—home automation does the work so you don’t have to, keeping you comfortable, secure, and productive. Its system of customized, networked, and controllable devices work together to ensure your utmost convenience. No matter how behind-the-times you may claim to be, you likely use some form of home automation whether it’d be a garage opener, the timer on your coffee pot, or even something as simple as an alarm clock.
Smart home technologies are a way to communicate with your home— or in the case of the multifamily housing industry, your apartment—through a remote control. Of course, during the pinnacle of the mobile movement, many users repurpose their smartphone or tablet as a remote.
But remote controls are only one aspect of home automation. The second main component of home automation is, unsurprisingly enough, automation. Automation refers to the ability to program and schedule events for all your network devices. Programming may include time-related commands such as having your lights turn off at a certain time each day, but it can also consist of non-scheduled events like deciding to power on your central AC unit before you return home on a hot day. Once you begin to understand the possibilities of scheduling, you can come up with numerous useful and creative solutions that will improve your home life.
What is the Incentive for Residents?
As the home automation industry continues to expand along with the Internet of Things, technologies are becoming more affordable, and therefore, more accessible. Finally, home automation is within the reach of consumers who wish to create a smart, intuitive home.
Today’s top brands have invested so much time, effort, and money into user experience because they know tech savvy home owners and apartment residents aren’t interested in products that make them work in any capacity.
Here’s a great example of home automation to paint a picture for the more visual learners. Imagine that you’ve just arrived at work. Suddenly, you begin to feel that familiar anxious feeling…something is off, not quite right. Did you leave the stove on? The door unlocked? Is the dog roaming free through your perfectly clean apartment instead of being properly kenneled? If your home isn’t automated, you may have no other option than to turn right back around and go home., but this isn’t always a viable option. Even if you live close enough to the office, there goes your lunch hour! But, if you have an automated home, you don’t have to turn around. Simply pull up the monitoring app on your smartphone, and you have the ability to rectify any situation. Check the status of kitchen appliances, lock the front door, or peer in on your pets via surveillance camera.
How Can Home Automation Benefit Your Business?
Home automation can go a long way in marketing your community, but it also benefits property owners and managers as well. Upgrading your property with automated features can make it more efficient, safe, and profitable.
Home automation is a trend that is quickly becoming a staple in modern day life. As more and more devices link into “The Internet of Things,” renters are beginning to expect a fully connected home. The Internet of Things is an inter-networking of computing devices embedded in everyday objects, enabling them to send and receive data. With the Internet of Things, everything has an assigned IP address and can be monitored and accessed remotely. Since 2016, there has been so much buzz surrounding the Internet of Things and its increased machine-to-machine communication. The Internet of Things is mobile, virtual, and instantaneous connection when you need it most, and it makes smart home automation possible.
Upgrading your property will put you at the forefront of the rental market and make a real impact on your residents’ day-to-day routines. Smart devices such as appliances, lighting, and thermostats provide residents with the convenience, safety, and peace of mind they seek in a living experience.
But what exactly the benefit of home automation for property owners? Well, by implementing smart home technologies, you will increase resident satisfaction, maintain high occupancy, and create ambassadors of your brand all at the same time. By retaining residents, you can lessen your budget for marketing spend and any additional costs that may plague you after a scheduled move-out.
It’s time to take the leap because residents are increasingly requesting smart home technologies that can simplify their daily routine. With benefits for both you and the resident, property owners and managers must consider transforming their community and finally introducing it the 21st century. Home automation will continue to make significant strides in the real estate industry whether you’re on board or not.
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LANDOVER, MD - Mission Rock Residential, a Denver-based multifamily property management company, is...
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