How Maximizing Your Property’s Appeal Means Future-Proofing Your Property

If you’ve been keeping up with our blogs you’ve learned that you should integrate PropTech into your multifamily buildings in stages in order to maximize resident retention and experience, and therefore your return on investment (ROI).

In the first blog of this series, Using Physical Security to Build a Solid Foundation for Multifamily Properties, we discussed that physical security and safety is the first and most vital element for residents when considering a new place to call home.

After safety, individuals need to feel like they belong. So, how do you make your residents feel at home? Integrate technologies that adapt to your resident’s lifestyle; technology that is customizable and convenient. Check out the second blog in this series for more information on integrated technologies for improved resident experience.

Now, let’s discuss how ensuring that these integrations are ‘talking to each other’ will magnify your property’s appeal, and make sure your building is ready and adaptable for the future.

Residents Want Convenient & Customizable Ways to Manage Their Home

Managing your property remotely is the new normal, and believe it or not, your residents want in on it too. The ability to control their home’s functions from anywhere is just one way residents can enjoy the high-end living experience of their new digs. It is these conveniences that will set you apart from your competitors. 

Your residents want all the conveniences that smart homes provide. Now people can see who is at their front door on their smartphone while they are at work. Their thermostat is responsive and automated and their oven responds to commands through Alexa. These home appliances are only going to become more connected. To bring in long-term high-end residents you need to satisfy their craving for cutting edge technology and the conveniences that go along with it. 

Top requested solutions from residents:

  • Smart home appliances like refrigerators, ovens, washers, dryers and dishwashers can be controlled remotely or have automatic functions set for convenience and to conserve energy.
  • Virtual reality experiences for existing residents like virtual golf simulators in the common room and high-end virtual tours for potential residents
  • Apps that enhance the resident journey and connect them to the surrounding community and events like Nextdoor or MyCoop

These integrations help you as the property manager anticipate your resident’s needs through the technology’s analytics. Allow your market to drive the technology you install, not the other way around. Stay ahead of the curve by integrating PropTech that supports the 5G cellular evolution, smart communities, and more, and your multifamily building is sure to be future-proof.

Want the complete run down of how cloud-based access control can impact your multifamily property? Read the new Multifamily Solution Guide.