Smart Apartments Offer Something for Everyone
- Oct 8, 2019 11:02 pm GMT
This item is part of the Energy Efficiency - Fall 2019 SPECIAL ISSUE, click here for more
Multi-housing stakeholders can overcome historical barriers to deliver connected technologies to the market.
The multi-family housing market accounts for about one-third of all housing stock in the United States, and there is a massive, untapped opportunity to leverage smart technology in the space. But, in order to achieve widespread adoption of energy-saving devices and technology in the sector, stakeholders must first overcome the barrier of the “split incentive” between property managers and tenants.
Energy providers, technology companies, tenants and other stakeholders all stand to gain from the expansion of smart home technology into multifamily dwellings, and are now being presented with the unique opportunity to overcome the split incentive barrier as more residents begin to desire and even demand access to the latest smart technology. More devices that improve efficiencies in multi-housing buildings save money and energy, attract new residents, provide more desirable amenities and improve economics for property owners and operators.
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