Technology is a disruptor in all industries, and multifamily is no exception. As innovations quicken and consumers adapt, it’s important to stay ahead of the curve.
To maintain a position as a leader in the field, stay tuned into these current trends that are sure to dominate the future of multifamily.
A smart apartment is not limited to smart amenities like smart locks, smart lights or fancy thermostats. It must include total connectivity to building systems, management, and other residents. An example is the online automated leasing technology. It allows interested renters to gain access to the building without the presence of an on-site leasing agent. It also makes the tenant screening process fast. This way, potential renters can pay rent deposits using a smartphone app.
Augmented reality refers to the blend and overlay of digital information like sound, text, and images into our real world. Developers can show their properties to potential renters in 3D. In turn, they may save on time and decide to rent without having to physically visit the property.
Internet of Things (IoT)
Simply put, IoT means connecting any device with an on/off switch to the internet or to each other. This affects how things are connected. It will improve the connection between people-people, things-people, and things-things. Useful data will help developers identify with the preferences of their renters and therefore satisfy their wants.
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