Workforce Housing and Smart Tech: Is It Worth the Upgrade?

The integration of smart tech into workforce housing is revolutionizing the sector, providing both residents and property management teams with a range of benefits. Contrary to the belief that smart home amenities are too costly for workforce housing, multifamily leaders like Stoneweg have proven otherwise. They are entering their third year of smart home adoption and have offered insights to their success in the video below.

Smart Tech Amenities Add Value

Market Differentiation: Offering a smart home tech package attracts renters looking for modern conveniences, helping workforce housing properties stand out in a competitive market.

Energy Savings: Smart thermostats reduce HVAC runtimes in vacant and occupied units, resulting in lower utility bills and increased affordability for residents.

Simplified Key Management: Smart locks eliminate the worry of hundreds of keys being handled around your community and far less intensive to manage.

Get Ahead of Water Leaks: Smart leak detection systems are placed in strategic areas within the apartments, sending alerts to maintenance when drips occur.

Return on Investment: Elevate your community without having to break ground or knock down walls. Compared to the cost of adding other types of amenities, smart home tech creates value all around.

Elevate your community without having to break ground or knock down walls. Compared to the cost of adding other types of amenities, smart home tech creates value all around.

Tech Amenities that Millennials Love

Smart technology amenities bring numerous benefits to workforce housing, significantly enhancing the living experience for residents while improving operational efficiency for property management teams. For residents particularly, smart devices like thermostats, lighting systems, and security features offer increased convenience, safety, and cost savings. Smart thermostats can optimize energy usage by adjusting heating and cooling based on occupancy and preferences, which reduces utility bills.

Additionally, smart locks provide keyless entry, eliminating the hassle of managing physical keys and enhancing security. These modern amenities not only improve the quality of life but also make workforce housing more attractive to prospective renters, who increasingly seek out tech-forward living environments.

Operational Efficiency

Likewise smart home technology translates to streamlined operations and reduced costs for property teams. Remote monitoring and control of smart devices allow property managers to efficiently oversee multiple units, addressing issues promptly and maintaining optimal conditions. Automated maintenance systems can detect potential problems, such as water leaks or HVAC malfunctions, before they escalate into costly repairs. This proactive approach to maintenance enhances the overall durability and sustainability of the properties. Moreover, smart home technology aids in market differentiation, helping workforce housing properties stand out in a competitive market by offering amenities that appeal to tech-savvy renters. By adopting smart solutions, property managers can achieve higher tenant satisfaction and retention rates, ultimately contributing to the long-term success and viability of workforce housing communities.

For an additional perspective on smart apartment solutions, watch an interview with Dustin Lacey at Mark-Taylor Residential. They are currently in their third year after rolling out smart home portfolio wide.

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