We’re at the doorstep of the smart tech revolution. By 2023, 53.9% of homes across the United States will feature smart tech (that’s 20% more smart homes than in 2019). Smart thermostats and electronic locks are no longer just add-on amenities — they’re dealbreakers for residents concerned about home security and cost-efficiency.
The downsides of smart tech no longer outweigh the benefits. In fact, 91% of renters believe home intelligence is a necessity, and 66% of current renters are willing to pay at least an extra $20/month for a smart device package.
There’s a clear demand for smart tech in the housing market, and multifamily owners that don’t meet this demand will lose out on revenue and market share. For instance, take Sony’s demise in the early 2000s: they fell behind their competitors after failing to conform to their audience’s growing desire for more dynamic product experiences. Likewise, as more and more renters grasp the value of smart tech, property owners who pivot to install smart devices inside their homes will attract more residents and renew more leases on average.
Arize is an emerging innovator in the smart apartment technology space. We design smart products with residents and property owners in mind, with an acute focus on streamlining property management, driving ROI/NOI, and improving the resident experience.
When we partner with you, we pair you with the devices that best meet the needs of your multifamily housing communities. These custom solutions, delivered to you with concierge customer service, immediately enhance your property’s value without forcing you to overpay for devices you don’t need. Plus, we’re known for our top-to-bottom approach to smart home implementation, so everything you need done is handled by us.
Arize partners with Openpath to introduce advanced common area access control to multifamily communities across the country.
Find out how different demographics of renters view smart tech and see how owners and operators are responding.
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