Complete Apartment Buildings May Have Smart Home Services

It is continually being confirmed by industry reports that people and particularly Millennials are becoming more interested in living in smart homes and the smart home devices industry is predicted to be worth $53 billion by 2022.

With this in mind, companies are now looking for new ways to incorporate smart technology into entire apartment buildings so that all tenants within the building can benefit, rather than just using this technology to convert single family homes. Currently, it is perfectly possible for tenants to purchase smart home technology and to carry out the conversion themselves, but an article in Curbed highlights how new services can allow property managers to control hundreds of smart devices in an entire building.

woman with smart home control app at the park

The article points out that Vivint, a smart home company that already provides devices such as security cameras and smart locks is now looking to expand into single and multi-family rental properties with a service called Smart Properties. This will enable property managers to design their own smart home system that can then be installed by Vivint. Property managers would have an interactive dashboard allowing them to provide keyless entry for contractors working on unoccupied units. They would also be able to monitor smart thermostats and other smart devices.

Software provider Entrata is to offer the same type of services, but this company already has 3.5 million apartments located in 20,000 buildings. Property managers who are already using this software to manage leases and payments simply have to enroll for this technology and the company will install a central hub that will allow its software to talk to smart devices on the market.

It’s certainly good news for renters who like the idea of living in a smart apartment building and these two recently announced new products follow hot on the heels of services offered by start-ups including Dwelo and Stratis.

About Allison Halliday

Allison Halliday is a Realty Biz News contributing writer. She handles International Real Estate and is a seasoned blogger.

RealtyBizNews: Real Estate Marketing & Beyond