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

IoT Moving Down The Value Chain

Parks Associates’ podcast, The Connected Consumer just released a new episode where hosts Chris White and Rosey Ulpino Sera dive into hot IoT topics, with guest speaker Rob Conant, VP of Software and...

CONNECTIONS 2022 Conference is Back on October 20th

Did you know that by the end of 2025, approximately 93% of US households will have a broadband subscription, either fixed or mobile? Join leading industry executives and analysts at Parks Associate...

The Last CONNECTIONS 2022 Conference for The Year Is November 10

Join leading industry executives and analysts at Parks Associates’ interactive CONNECTIONS virtual session “Tech Innovation and New Partnerships” on November 10 at 11:00 AM CT for insights addressing...

This week’s TV: Amazon beats Netflix, ‘Little America’ returns, and Reba gets some love

"The streaming world continues to grow and change. The research firm Parks Associates released its annual ranking of streaming outlets in the United States, and there is a significant new development...