Smart Apartments are in now as residents have shown they are willing to pay a premium for the latest digital features. Millennials are willing to pay about 20% more and stay longer in buildings that offer modern lifestyle conveniences.
At the same time, those digital upgrades can significantly improve operational efficiencies, giving property owners and managers better net results. Owners and managers can create significant value for their properties around smart apartments, mobile apps, and ancillary revenues from a host of highly desired services, from dog walking to automated package management and much more.
The wide range of IoT solutions supports smart apartment initiatives. When making investments in technology solutions to enhance net operating income (NOI) and add value to your multifamily or another multi-dwelling unit (MDU) properties, consider these three factors:
Invest in a scalable foundational architecture that will grow with your needs.
Align with knowledgeable, trustworthy expert advice and guidance.
Choose tech with an intent to create community, experience, and lifestyle.
By focusing on creating these essential elements, you will be making investments that are not simply knee-jerk reactions to the latest fad but well-reasoned, intentional decisions that will help create lasting value for your portfolio.
Some specific IoT and Smart Apartment solutions to consider:
WiFi as a Service
Smart Apartments are the key to higher guest satisfaction and new revenue opportunities. By starting with the proper foundation of a managed WiFi network, getting the right professional advice, and committing to making technology decisions that support the community and enhance resident experience, you position your portfolio for growth.
This article was taken Nomadix Website.
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