Multifamily Ties

We’re living in a connected age. In multifamily property management, creating strategic connections can enhance the resident experience and deepen ties with communities and property managers. How? An article in the Harvard Business Review titled “The Age of Continuous Connection” explains how technology is driving meaningful customer experiences. “Thanks to new technologies that enable frequent, low-friction, customized digital interactions, companies today are building much deeper ties with customers than ever before,” wrote authors Nicolaj Siggelkow and Christian Terwiesch.  “Instead of waiting for customers to come to them, firms are addressing customers’ needs the moment they arise — and sometimes even earlier. It’s a win-win: Through what we call connected strategies, customers get a dramatically improved experience, and companies boost operational efficiencies. For multifamily operators, that means creating effective digital connections that anticipate needs and feel personalized. As a result, businesses will be able to free up onsite property staff for more meaningful in-person interactions. Connected businesses At the Yardi Advanced Solutions Conference (YASC) that took place in Washington, D.C., in May 2019, Anant Yardi spoke to clients about continuous connection and how it can be beneficial for real estate business relationships. “This day and age of continuous connection doesn’t necessarily mean we are communicating all the time. But it does mean that we are available, and we respond,” said Mr. Yardi. “Our goal is to provide a connection between the business, the consumer and the property. As we think about continuous communication, the basic way we do real estate doesn’t change. But the way we transact business may change,” he added. For Yardi, this means thinking about the user experience of all parties involved, from stakeholders and leasing staff to prospects and residents. How can we innovate the way people connect with their homes and management...

Toys for Tenants

Whoever said that practical toys couldn’t be fun had never heard of SmartThings. Tenants will soon have access to an undeniably practical, incredibly fun, and potentially life- and money-saving set of devices. Before the ink on the business plan has dried, the product has already taken off, blazing a trail in home automation that is bright and promising. Thousands are anxiously awaiting the arrival of their SmartThings starter kit. SmartThings, a breakthrough technology company, has a simple goal to “add intelligence to everyday things.” From this humble approach, CTO Jeff Hagins and his staff of 25 reimagined ordinary operations within the home. By rethinking the connection between a device and the intelligence needed to control it, SmartThings has created a wireless network that can help tenants monitor and operate endless facets of their homes with a smartphone or tablet. According to a Kickstarter survey, potential users are most enthusiastic about SmartThings impact on DIY home security. Residents want an easier way to monitor their homes. They want to know who is at the front door long before they reach the foyer. They want to ensure that the Christmas lights aren’t burning down the house while they are away at a party. They want to enjoy their vacations without worrying about a burst pipe and flooded basement. SmartThings’ series of wireless devices such as low-resolution, cloud-controlled cameras, temperature and moisture sensors address those concerns and more. While SmartThings can be used to mitigate major home catastrophes, the simple daily functions are also impressive. By attaching a contact sensor to a closet door, a sister knows precisely when her younger sibling is attempting to make off with some “borrowed” clothing.  A motion sensor alerts a mother when her sleepwalking child has left his bedroom; Lumawake can...