Multifamily properties are increasingly investing in smart technology solutions to improve operations, reduce costs, and better attract and retain tenants, but there is an industry-wide need for benchmarking to better gauge the outcomes of smart building deployments. Parks Associates shares findings from interviews of 10 multifamily owners, operators, and property managers to deliver insights on how companies are tracking and evaluating the ROI and NOI (net operating income) of smart building deployments; metrics and results of companies that have deployed these solutions; and strategies for benchmarking effectiveness.

Notably, according to Parks Associates, 39% of multidwelling unit residents consider property-provided smart home devices a differentiator when looking for their next home. The resulting white paper draws on the results of the interviews with multifamily owners, operators, and management companies across the US, with a diverse mix of company sizes, building types and geographies. It covers devices from smart door locks to smart thermostats, as well as smart amenities.

To download the white paper, "Smart tech for multifamily properties: understanding the ROI," click here