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Apartment dwellers value smart home amenities over traditional services such as exercise facilities, pools and hot tubs.
That’s the takeaway from a study recently published by property management software provider Entrata. Apartment communities across the country are constantly looking to attract residents and increase revenue. After surveying more than 1,000 U.S. apartment dwellers, Entrata found incorporating smart home technology may be the solution.
“This finding may be a bit surprising as it goes against conventional wisdom,” the study states, noting that for decades, “owners have prioritized creative, eye-catching community features to lure in residents and justify higher rents.”
But the study found renters would gladly pay more to live in a high-tech apartment community with high speed internet and smart home products in their units. The five most important smart home amenities to residents, according to the study, are security cameras (doorbell cameras); keyless entry; smart thermostats; security systems and smart plugs/outlets.
“Technology has simplified and elevated homeowners’ lives for decades, and it’s clear renters now want in,” the study states. “Those who welcome this transition and invest in creating a smart, connected environment in their communities will see increased revenue and higher occupancy and renewal rates follow.”
The iDevices Advantage
iDevices’ advanced smart home solutions are hub free, easy to use and install, and designed to fit the décor of any living space — making them the perfect addition to any apartment community.
Plug & Play products like the iDevices Switch and Socket can be installed in minutes without the need for wiring or construction. An apartment community could simply provide these products as part of a “welcome package,” for example, and let residents install them as they wish to control lighting and electronic appliances with their voice, or from anywhere with the free iDevices Connected app.
For landlords opposed to opening up walls, the iDevices Instant Switch is the perfect solution. It can be paired with other iDevices products and placed on any wall with an adhesive strip, providing manual switch control where it's needed most.
iDevices’ in-wall products like the iDevices Wall Switch, Dimmer Switch, Wall Outlet and Thermostat provide the same smart advantages (voice control and remote access). Their sleek yet traditional designs mean they can easily replace any standard wall switch, outlet or thermostat in an apartment. Any developer with plans to build a new apartment complex could simply install iDevices’ in-wall products in lieu of “dumb” products and create the integrated, high-tech community renters are really looking for. The same could be said for property managers or developers looking to revamp and remodel older apartment communities to attract new residents.
Apartment dwellers willing to spend a little extra for smart home technology may also want to see some return on investment, and that’s exactly what iDevices can provide. The iDevices Switch and Wall Outlet feature energy monitoring so residents can keep track of how much power their lights and appliances are using. They also negate any "phantom" energy for electronics plugged into them.
Any electronic device plugged into an outlet uses power, even while it’s off. This is referred to as "phantom" or "vampire" energy. Over the course of a year, this power draw can add up and pad a resident’s electric bill. While the Switch and Outlet do use a small amount of power themselves because they’re Wi-Fi-enabled, it amounts to less than $0.80 a year. The iDevices Thermostat can also provide energy savings by making it easier for residents to heat and cool their apartments efficiently. With app control, residents can schedule the Thermostat and make subtle temperature adjustments from anywhere via the iDevices Connected app.