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

Amazon's Ring Unveils Home Security Drone, Roving Guard Cam

Daniel Holcomb, a senior analyst for smart home research at Parks Associates, a consumer technology research firm in Addison, Texas, pointed out that the security market had seen slower growth in...

France blames Iran for supermarket fridge cyberattacks

Parks Associates figures cited by Al Jazeera put the average United States internet household at about 18 connected devices, nearly double a decade earlier. From the article, "France blames Iran fo...

Netflix retains lead, HBO Max gains in new Parks Associates streaming rankings

Netflix maintained its dominance as the most-used streaming service in most American homes during 2026, holding its own against Amazon’s Prime Video for the second year in a row, according to the...

Can Tubi and Roku sustain Fox’s growth as sports and political addollars fade?

While cyclical political ad dollars will inevitably return for the next election cycle, underlying linear network rating drops present a deeper structural test, said Michael Goodman, director of enter...

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