The multifamily industry in years past has been known for being behind the times when it comes to adopting and using technology. Many renters thought of apartment renting as a necessary evil, and definitely not their first choice for their living situation for this reason. In recent years though, apartment and property owners have flipped the switch and embraced technology, changing the environment of the multifamily industry, making the renting experience seem more family-like.
Across the country, multifamily operators are implementing cutting-edge solutions that enhance the resident experience and improve operations. The pandemic – which has compelled many operators to begin offering self guided and virtual tours – has accelerated the growth of technology in multifamily.
But, as multifamily operators begin utilizing more vendors and solutions, it can become increasingly clear which vendors have experience working with multifamily communities. There are special problems, schedules, and aspects of every multifamily community that a supplier who does not have a strong background in the industry will not know how to navigate, making the partnership with the managing operator extremely frustrating.
In The Know:
Smart-home technology, self-guided tours, video surveillance and remote guarding, and even package distribution operate in complex ways and require a deep understanding of the multifamily industry in order to operate correctly. It is also important that these solutions integrate with other solutions in order for them to be long-lasting and functional in the future. For example, ControlByNet offers a video surveillance solution for the multifamily industry the can be integrated into a previously existing system. This allows a property to save money by not having to buy new cameras or a new DVR, and if they choose to forego the solution in the future, their cameras will not be bricked without the software.
Learning The Industry
A growing number of suppliers and vendors in the multifamily industry are emerging who are founded by individuals with real knowledge of the multifamily industry and even have experience with property management. These vendors, like ControlByNet Cloud and Managed Video Surveillance, are developing solutions with, and only with, rental housing in mind. These suppliers understand that the multifamily industry is a 24/7 job and their solutions need to be able to integrate with other technologies and supply 24/7 support in order to be the top choice of a busy property manager. They also understand the considerable demands placed on onsite associates and the vital need for systems that are efficient, intuitive and easy to adopt.
As new technologies are being implemented in multifamily communities across the country, we are entering into a new era for the multifamily business process and it is exciting to know that the suppliers and vendors are beginning to evolve as well to be more flexible, innovative, and creating new solutions to meet the needs of the industry.