Multifamily residences are popular in Florida. The National Multifamily Housing Council estimates that there are more than 1.3 million apartment complexes across the Sunshine State, meaning Florida ranks fourth among U.S. states. A new survey from Xfinity found that individuals are starting to think differently about smart home technology and features in multifamily housing and apartments.
Since the beginning of smart technology’s integration into homes and apartments, many have considered it a luxury or “nice-to-have” amenity. However, a recent Xfinity Communities survey has revealed that perceptions are changing and smart tech’s inclusion in multifamily residences is becoming a necessity for residents and professionals alike.
The report, “The State of Smart Technology in the Multifamily Housing Industry,” leverages survey data from 200 property managers, developers and owners in the multifamily industry to explore the impact smart home and building technologies have on the industry from developers to owners, managers, workers and residents.
Survey respondents overwhelmingly indicated that their organizations are acting to realize these benefits, with a majority indicating they have fully adopted, are still implementing, or have made the decision to adopt a number of these technologies, including:
- Smart locks (77 percent)
- Smart thermostats (75 percent)
- Smart lighting (71 percent)
- Smart washers & dryers (66 percent)
- Water leak detectors (70 percent)
- Smart home energy use (69 percent)
When asked how important the adoption of the latest technologies is to resident satisfaction, nearly four-in-five (78 percent) respondents reported that they believe adoption of the latest technologies keeps current residents satisfied, and even more said it aids them in attracting new residents (84 percent).
Despite these benefits, smart technology does put an increased strain on the network. Multifamily organizations that seek to offer the latest in technology will need to work closely with service providers, like Xfinity Communities, to develop solutions that best handle the bandwidth and connectivity challenges of a smart facility.
The survey was conducted using a random sample of 200 building managers, building owners and real estate developers of multifamily properties located in the U.S. The survey was administered online between April 25 and May 1, 2019 with 200 qualified participants completing the survey. The margin of error for the overall findings is 5.8 percent at a 90 percent confidence interval.