Multifamily properties have unique management challenges that require efficient workflows to ensure smooth operations. Now more than ever before, IoT-driven technology is being leveraged to automate many aspects of property management – from maintenance requests to digital leasing processes – helping to streamline staff workflows for onsite teams and reduce man-hours. Let’s take a look at some of the most important ways technology is improving operational efficiency in Multifamily buildings.

Property Management Software

Property management software is a comprehensive tool that enables onsite teams to easily manage all aspects of a property’s operations, such as accounting, leasing, maintenance and resident management. Whether it’s collecting rent, renewing a tenant lease, or submission of a maintenance request, many repetitive tasks are now automated through such software to help save time, increase accuracy, and allow staff to focus on higher-value tasks.

Smart Home Devices

Smart home technology has become increasingly popular in multifamily properties because it provides an easy and effective way for onsite teams to identify cost-saving opportunities throughout their buildings. Various smart devices, like leak sensors, thermostats, and door locks, continuously monitor for risky conditions and immediately alert the staff when a potential issue is detected – whether that be a leak inside a unit, abnormally high humidity, or an inefficient HVAC. This enables properties to proactively address maintenance problems, improve energy efficiency, and reduce costs.

Sustainable Communities

With today’s residents being more environmentally-conscious than before, IoT is playing a significant role in helping properties achieve that highly desired ‘green living’ community. Building automation technology allows for the automation of various building functions, including lighting, HVAC, and security. This technology can reduce energy consumption by only using resources when they are needed, such as turning off lights in unoccupied rooms. Additionally, the continuous monitoring of energy and water consumption encourages conservation where possible, reduces waste, and also helps property operators advance their ESG goals.

Ease of Access

The installation of keyless entry systems streamlines the process of managing building access control by eliminating the need for physical keys and manual lock changes. Property managers can grant or revoke temporary access to visitors or contractors remotely, saving time and reducing instances of resident lockouts – which can be especially costly if occurring after hours. Additionally, smart access control systems enhance building security by monitoring access in real-time, allowing management to keep track of all entry and exit activity to mitigate the risk of unauthorized access.

Technology has revolutionized every aspect of modern life, and the real estate industry is no exception. Multifamily buildings, in particular, have benefited greatly from IoT’s ability to streamline staff workflows, allowing property managers to automate time consuming tasks, provide better service to tenants, and substantially reduce maintenance and utility costs.

Contact us today to learn how TrustHab can help your property boost value and achieve maximum operational efficiency.