Providing Market Intelligence for 40 Years

In The News

Multifamily Properties Are Seeing Greater ROI From Smart Tech

Multifamily companies that deploy smart thermostats in common areas of their properties report energy cost savings of 18% to 20% annually and 20% to 30% reduction in energy use, according to a new white paper from Parks Associates, in partnership with SKBM SmartTech.

"It can be difficult for companies to determine the best strategies and benchmarks to measure ROI from smart building solutions, so naturally many properties are hesitant to make such large-scale investments," says Kristen Hanich, research director, Parks Associates.

"Our research and interviews show smart building technologies, when properly deployed and managed, can have significant positive impacts on operations and resident satisfaction, so it is important to take the guesswork and uncertainties out of these deployments."

Parks Associates found that smart amenity packages are increasingly expected by residents and potential residents. "ROI for smart apartment amenities varies. In select markets, these amenities may be necessary for residents to consider renting at all. In others, they may result in lifts to rent ranging from 5% to 10%. These solutions commonly have a three-year payback period," the white paper reads.

From the Multifamily Executive article, "Multifamily Properties Are Seeing Greater ROI From Smart Tech"

Previously In The News

On Hunt for Content, AT&T Closes Deal for Chernin’s Otter Media

With the purchase, Otter Media ranks as one of the most valuable media upstarts of the last decade, said Brett Sappington, senior director of research at Parks Associates, a firm that focuses on emerg...

Sharing your TV streaming passwords? Cable companies won’t stop you—yet

Neither of these methods work particularly well, at least for the kind of casual sharing that’s pervasive among friends and family members. A survey earlier this year by Parks Associates found that 18...

What I’m thankful for in sports media

Media research firm Parks Associates said there are more than 300 direct-to-consumer streaming services in the United States. From the article "What I’m thankful for in sports media" by Jeff Agrest...

To Invade Homes, Tech Is Trying to Get in Your Kitchen

Yet the so-called smart kitchen remains a tough sell. With the kitchen often a hub for families and friends, habits there can be hard to change. And many people see the kitchen and mealtimes as a have...

Phone:
972-490-1113
Mailing Address:
2301 West Plano Parkway, Suite 210, Plano, TX 75075
Expertise
Smart Home: Management and Safety Consumer Electronics Connected Health and Wellness Connectivity and Mobility Small-to-medium Business (SMB) MDU
Services
Research Memberships Visibility Memberships Streaming Video Tracker Smart Home and Security Tracker Broadband Market Tracker Channel Analytics
Events
CONNECTIONS™ CONNECTIONS™ Summit/CES Smart Energy Summit Connected Health Summit Future Of Video Smart Spaces
Resources
Press Releases Analyst Blog Parks in the News
About Us
Overview Team Contact Us
Store
View Your Cart

Follow:

© 2023-2026 Parks Associates. All Rights Reserved. Privacy Policy

Design & Developed By Agency Partner Interactive