The year of tech

2015 has been a busy year for technology. Businesses continue to use technology in new and different ways, and technology-enabled automation is one of the most talked about trends today. Companies seek to quantify customers’ desires to leverage technology systems to make processes simpler, quicker and more efficient. Automation continues to advance in nearly every industry making routine tasks easier, while saving time and money. With the recent drop in cost, there’s been a proliferation of smart devices hitting the market. The multifamily industry is taking note of this and is diligently exploring and developing smart apartment automation.

This issue gives an overview of some of the advances of smart technology in businesses today, most importantly what is happening here in the multifamily industry. This issue also explores technology from many angles.

In a few short years, many existing apartments will likely have some sort of smart device helping residents manage their utilities and control other features of their home like security and lighting. Our customers are interested in smart devices for potential savings and because it is anticipated that the technology will be an expected amenity. Apartment owners and operators costs to provide automated devices are decreasing and residents may even pay more for these desired amenities. Automated smart locks, thermostats and lights are just a few of the items that have already past beta testing in many areas across the country. NWP’s first innovation in this arena was introducing utility meters that connect to wireless networks so apartment owners can track utility usage by individual unit and then charge accordingly for consumption. This illustrates how technology can control costs, conserves valuable resources and gain resident support.

We touch on various smart automation technologies while reviewing the pros and cons of adoption in the multifamily industry. We lay the foundation investigating options, discussing costs, return on investment and how to manage software, data and resident participation. We look into what the smart apartment of the future has begun to look like and talk about some of the benefits and challenges of how different systems function together once installed.

Sustainability and cost control have been the basis for the framework of the smart apartment, but expanding the features of the smart apartment is quickly becoming reality. Deciding which and where it makes sense to expand the adoption of this tech is the focus of this issue. More innovations are on the horizon, we’ll continue to keep you abreast on the latest and greatest technology in multifamily and how it can benefit your residents and your bottom line. This is just the beginning.