Providing Market Intelligence for 40 Years

In The News

Amenity fees and resident demand for technology

A white paper by Parks Associates, developed in partnership with Groove Technology Solutions, examines the dynamics driving the adoption of technology amenities in multifamily rentals. It explores how these amenities are funded, their impact on operational efficiency and residents’ willingness to pay.

Parks Associates reports that, by 2024, approximately 13 percent of apartment residents in the U.S. lived in units equipped with in-unit smart amenity packages. These packages commonly include smart thermostats, door locks, video doorbells, smart lighting, and connected smoke detectors.

Parks Associates’ consumer surveys reveal that 14 percent of U.S. apartment residents report paying a technology amenity fee, a figure that rises to 21 percent among condo owners. The average monthly fee is $75 for renters and $80 for condo owners.

The Parks Associates white paper concludes that smart technology amenities have become a baseline expectation in new multifamily construction and are increasingly being adopted in older properties.

From the article, "Amenity fees and resident demand for technology" by Alex Young

Previously In The News

BrightonSEO: Are Assistant-powered devices like Alexa a dream or a nightmare?

Raj then moved on to talk more specifically about voice search. He referenced research from ComScore last year which stated that by 2020, 50% of searches will be conducted via voice. Further research...

The two, opposing IoT r/evolutions in play

Before we go any further, let’s look at the vastness of the IoT space for a moment. The global Internet of Things market will grow to $1.7 trillion in 2020 from $655.8 billion in 2014. According to Ga...

The Best Wearable Fitness Tech We Saw At CES 2017

It’s one of the biggest arms races of the 21st century—literally. Once the preserve of hardcore fitness junkies, the activity tracker industry has exploded into the mainstream and is now set to surpas...

Can Traditional TV Keep Up In A Digital-First World?

The ongoing disruption was made manifest in the number of consumers tuning into alternate channels: 63% of broadband-enabled households have at least one OTT subscription, according to research from P...

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
Store
View Your Cart
About Us
Overview Team Contact Us Privacy Policy

Follow:

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

Design & Developed By Agency Partner Interactive