Increasingly, property owners/operators are looking for technologies to attract and retain residents, enhance Net Operating Income (NOI), and protect their assets. Devices like smart locks, thermostats, leak detectors, and lights are becoming more common in multifamily spaces.
Elizabeth Parks, President and Chief Marketing Officer for Parks Associates, said when looking at the role of multifamily connectivity, consumers see connectivity inside multi-family units differently.
“There’s a transition and transformation that’s happening in the multifamily market,” she said. “There’s an evolution for consumers because of technology advancements, and that’s spilling over into not only the multifamily experience in the units, but also what’s outside in the public areas.”
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