Is your building ready for smart technology?

Smart home technologies are very popular. Apartment renters want the convenience and security of smart devices, such as video intercoms, mobile access, and smart thermostats and lighting. In Allegion’s 2023 Multifamily Living Trends Survey, 38% of respondents said smart technology was a must-have feature for an apartment, and more than 50% of renters earning more than $100,000 per year required smart home features in their apartment.

The realization that smart IoT devices and systems can do more than just meet the needs of residents is driving change in the industry, he says. Adam Winstanley, Sales Engineering Manager Down Quantum fiber“Multifamily property owners, operators and managers are seeing benefits such as increased operational efficiencies, reduced operating costs and reduced utility costs,” Winstanley explains.

Key factors to consider when evaluating smart technologies:

Expectations for residents: When integrating smart features into multifamily properties, it’s important to prioritize the safety and convenience factors that residents expect. Today’s residents are increasingly looking for properties that offer enhanced security measures and the convenience of smart home technology.

Management efficiency: Smart systems allow property staff to remotely manage various aspects of the property and each residential unit, such as heating/cooling, lighting, security, and maintenance. This remote management capability not only saves time, but also ensures that issues are resolved quickly, leading to more efficient operations.

Competitive Landscape: By understanding what other properties in the area are offering, property owners can prioritize which smart solutions will have the greatest impact. This competitive analysis can help them make informed decisions about which technologies to invest in, ensuring the property remains attractive in their market.

Financial benefits: Cost savings and return on investment (ROI) should not be overlooked. Smart features can lead to significant cost savings in the long term by reducing property management time, maintenance costs and resource consumption. In addition, the initial investment in smart technology can be offset by increased rental income that results from providing a more desirable living environment. Working with vendors who can develop solutions tailored to your property’s needs can help ensure that your smart technology investments deliver a return on investment (ROI).

Tools needed to create a smart grid

Unoccupied units with disabled internet service do not allow for the use of online smart devices. To manage these devices in the unit, such as smart locks, alarm systems, water detection, thermostats and lighting online, an IoT bridge is a good option. This bridge allows property staff to access selected devices via an app or online management system. Quantum Fiber currently offers Connected Pass for free, allowing IoT traffic to be sent between the empty unit and the management software to manage the devices remotely. This ensures that smart property systems can operate seamlessly without incurring additional costs, making it a cost-effective solution for property owners.

Fiber internet and WiFi devices are essential requirements to support these smart technologies. Fiber-to-the-unit can provide a stable and consistent connection to IoT devices. “Fiber-to-the-unit has the bandwidth, reliability and security that not all internet solutions offer,” Winstanley explains. “It has the longevity without the costly expense of maintenance or replacement, and eliminates the worry of having to update infrastructure as new smart technology is developed.”

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