RENT Magazine Q1 '22

3 That Will Simplify Property Management for Owners and Investors SMART TECH TRENDS

The world was already digital, embracing cloud computing, smartphone apps and video conferencing long before the pandemic. Now, the new normal is to work from home, meet on Zoom, shop online and chill with streaming. We engage with the world from home. And it’s more important than ever that home is a safe, secure, and digitally-connected space. YOUR INTRODUCTION TO THE INTERNET OF THINGS AND PROPERTY MANAGEMENT

Our engagement with and reliance on smart technology has accelerated. The iPhone was first released in 2007. That was the unofficial start of connecting consumers with the computer in their pocket that then connected to other people, processes, data, and even other devices. There’s a name for this human-device connection. It’s the Internet of Things (IoT). And IoT is particularly relevant to owners of multifamily communities and the people they hire to manage them. That’s because IoT enables smart tech.

In plain English, smart tech is a software application that is hosted on a secure internet server. You may have heard it described as “the cloud” or cloud-based software, even web-based software. They all mean the same thing. Here’s what is important: web-based software can connect with other software and devices, for example, video intercom hardware. Given this background, I see three rapidly emerging smart tech trends that are important to the future success of building owners and managers.

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