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
Parks Associates appoints Cliff Raskind as consulting director and contributing analyst. The research firm, which focuses on the Internet of Things market, recently launched a consulting practice that...
Social video now accounts for nearly five hours of television viewing per week, making up 20 percent of all video watched on TV, according to new research from Parks Associates. The findings, released...
Parks Associates has released new research, Streaming Live Sports: Where Opportunity Meets Complexity, in partnership with InterDigital. The firm reports that 33% of US internet households subs...
About 45% of U.S. internet households own at least one core smart home device — this excludes smart speakers — and about 20% own a video doorbell. But according to new research from Parks Associates,...
