“SMART” AMENITY OFFERS ON THE RISE Your residents’ needs are also growing in intelligence. According to Parks Associates research, “Simplifying the IoT Edge: Smart Spaces Best Practices”, high-speed internet is a top-priority amenity for multifamily community residents. Offering residents smart home device amenities on top of fiber can be key differentiators for their properties. Today, more than one-third (34%) of U.S. multifamily communities offer advanced digital services as amenities. By doing this, they improve their own operations, enhance the quality of life for their residents, and remain leaders in fiercely competitive markets. These smart amenities include everything from smart locks and smart garage door openers to smart video doorbells. More advanced communities might even offer smart lighting and heating. Multifamily residents gravitate toward smart technology, with Parks Associates citing that 43% are already reporting use of smart home devices. They are also willing to pay 10% to 30% higher rents when smart home amenities, such as automated lighting, smart appliances, high- speed internet, and remote access control are offered at their property, making them tempting targets. By installing a comprehensive array of digital access and convenience amenities, multifamily community owners, managers, and builders can open themselves up to cybercriminals if they aren’t properly protected. Multifamily property owners and builders collect, use, and store highly sensitive,
HIGH-SPEED INTERNET IS A TOP- PRIORITY AMENITY FOR MULTIFAMILY COMMUNITY RESIDENTS.
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