We are thrilled to announce that Robert Grosz, President of World Cinema, will be a keynote speaker at the upcoming Smart Spaces 2023 in-person conference next week, April 17-18!
Robert is a leader in institutional real estate and technology with a 25-year track record. He helps real estate owners create value from technology investments, improves the customer experience, and forms long-lasting partnerships. He has held leadership positions at public companies and successful start-ups. Currently, he is the President of World Cinema and SPARRO, with a focus on leveraging technology to benefit enterprise and institutional real estate clients.
1. What are the top use cases for prop tech in apartments?
The traditional use cases involve basic communications – support for things like phones and security systems, as well as front and back office functions. We’re now seeing residents expecting more in terms of technology to support things like remote work and streaming entertainment. Increasingly we’re seeing technology being used for smart solutions – from the owner and manager perspective, everything from smart thermostats and lighting to workforce automation and maintenance and logistics functions for greater efficiency, and for residents, greater personalization and easy access, potentially even voice-controlled solutions. Having a smart apartment can be a big draw for residents who want their environment to reflect their preferences without a lot of fuss.
2. What are the leading barriers to adoption of technology among MDUs?
Cost and concerns about ROI are always issues when properties are considering implementing new technologies. The actual installation may in some cases be a barrier – not all properties have the option to install fiber throughout, for example. But there are options available to address these concerns. Wireless broadband can be installed where fiber is physically not an option. Technology is available to upgrade the performance of existing infrastructure. And we’ve seen that installing new technology for connectivity and smart solutions has a really good ROI.
3. What is the resident wants vs. concerns in this market?
Modern life – work, shopping, healthcare, banking, and more – depends on good broadband access, and recent surveys have shown that large percentages of residents are interested in having broadband bundled in with their rent or condo fees, and they’re increasingly valuing those options post-COVID. The biggest concerns for residents, other than cost, are security and privacy –owners and managers need to be sure that they’re protecting residents’ personal information. Also, because of those same concerns, many residents will want to use their own devices for some smart functions – nearly half of MDU residents report using at least one smart device – so networks need to be designed to accommodate all of those devices while maintaining a high level of performance.