THE GROWING DEMAND FOR SMART HOME TECHNOLOGY IN MDU COMMUNITIES
Research by Parks Associates shows that 43% of U.S. MDU residents use smart home technology in their apartments. However, only 34% of MDU property owners currently offer smart home devices to residents. “Smart” devices can include everything from sensors and IoT to cloud-based services and remote computing and analytics. This increasing demand makes now the best time to invest in smart home technology for MDU communities.
ImpruviX by WCI provides services including remote access control, cloud-connected common area cameras and water and leak sensors. Smart apartments are in high demand, with residents expecting reliable connectivity and property-wide internet. Smart apartments are also valuable for property owners both financially and for convenience-sake. Providing IoT technology in apartments is increasingly necessary to improve resident satisfaction and retention.
Apartment complexes can offer property-wide internet access as a value-added service, increasing retention rates and improving the resident experience. Managed Wi-Fi is beneficial for residents and property managers, as outsourced connectivity is a simplified service for both groups. For residents, managed Wi-Fi eases the strain around moving in and out of their dwelling. Residents can move into their space and immediately connect to the internet, avoiding the hassle of negotiating with internet providers.
Furthermore, managed Wi-Fi is an opportunity for an additional stream of revenue for communities. Charging a slightly higher fee for monthly Wi-Fi is commonplace, especially considering the contractual obligations and costs associated. Residents are willing to pay more to avoid the hassle of installing and managing their own internet service. According to the aforementioned report, over a third of residents say they will pay an additional 15% per month for smart amenities. The ImpruviX managed Wi-Fi solution looks at reliability and redundancy, customer support and the simple use of move in, plug in by InstaOn®.
Property-Wide Internet Access
Managed Wi-Fi reaches beyond each individual apartment and encompasses property-wide Wi-Fi services as well. Property-wide internet access is also important for residents, as they are increasingly reliant on constant connectivity. Today’s residents expect to stream content and use the internet seamlessly throughout the property, moving beyond their respective dwellings into community areas like parking garages, laundry rooms and on-site gyms and pools.
In addition to charging for uninterrupted Wi-Fi, apartment managers can advertise property-wide connectivity as an added-value, safety-focused initiative. Connected safety devices include access control and common area cameras, both valuable features for apartment dwellers. Property-wide Wi-Fi, therefore, is an additional safety amenity, setting the property apart from local competition.
Internet-Connected Community Safety
Safety is an important amenity to residents. ImpruviX is the all-inclusive property safety solution, offering both common area cameras and cloud-connected access control. Smart access control systems improve safety throughout a community, providing residents with additional freedom and security through their personal devices.
Residents expect apartment communities to provide safety across the property, but especially within their individual units. Today’s renters expect apartments to come fully equipped with smart sensors to detect carbon dioxide and water leaks. Smart sensors are an essential amenity, as fires and flooding are an extreme financial strain on apartment buildings. Additionally, leak detectors enable properties to locate and repair water leakage issues before they affect the building structure, potentially saving thousands of dollars for future repairs.
Smart Apartment Devices
Smart sensors and leak detectors mitigate insurance concerns as they are preventative security measures. Additionally, apartment communities can save on insurance through clean energy initiatives and energy usage tracking. Smart apartments that are equipped with temperature control and smart lighting can monitor energy usage in real-time, providing insight into how the property is consuming energy.
Likewise, residents are also interested in smart home devices for their money-saving opportunities. A report from the National Multifamily Housing Council showed that residents are most interested in smart home technology that can save them money. This includes solutions like smart thermostats, sensor lighting and digital door locks. Additionally, smart thermostats reduce energy consumption with “eco-friendly” options to control the temperature and improve efficiency while the resident is away. Furthermore, today’s smart thermostats can adapt to a user’s typical schedule through artificial learning, motion detectors, and pattern recognition, creating a seamless experience for residents.
Do You Have the Network to Support These Devices?
Installing smart devices inside apartment buildings is a significant investment, and properties need to ensure they have the right bandwidth and network infrastructure capable of supporting these upgrades. Internal wiring has changed drastically throughout the years and historic or existing properties may have fallen behind on infrastructure updates.
The ImpruviX solution can be installed in a heritage building just as easily as a modern luxury building with minimal structural impact. Our solution accommodates existing hardware like coax cabling, ethernet and copper lines. ImpruviX will evaluate the current infrastructure of a property and determine the best, customized solution with respect to cost and unique needs.
Our solution enables fast, easy, virtually invisible fiber deployment in properties. The ImpruviX low voltage cabling system is cost-effective, and our hardware can convert older CAT cabling and coax solutions into usable and robust IP for Wi-Fi and networking.