Providing market intelligence for more than 35 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

Parks Associates: 10 Top IoT Trends

“Consumer interaction with the devices and services in their lives – at home, in the car, on the go – will continue to evolve in 2017 to be more personal and targeted,” Jennifer Kent, director, resear...

New Year Brings New Breed Of Cord-Cutter

This year should sway even more converts, as it will mark the proliferation of live television broadcast over the Internet. That’s because a number of entertainment power-players are making it easi...

Why TV Antennas Are Making A Comeback

In fact, since 2013, the percentage of broadband households in the nation using only antennas to watch linear TV has jumped from 9 percent to 15 percent, according to data released this week by Parks...

Research Shows Continued Growth In Smart Home Market

Approximately 26 percent of U.S. broadband households today now own a smart home device, up from 19 percent at the end of 2015, according to new Parks Associates’ research that was announced at its CO...