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How IoT Multifamily Software Benefits Residents and Staff

The benefits of managing a multifamily property with IoT technology
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Let’s picture this together. You’re a renter in 2021 who’s been chomping at the bit to take a vacation. Travel demands are at an all-time high due to COVID-19, and as grateful as you are for the itsy bitsy apartment that carried you through the 2020 quarantines, you need a break. 

So what do you do? You scramble out the door, shove your luggage in an Uber, and panic in the backseat when you realize you didn’t turn down the AC before bolting out the door. This week-long vacation is already costing you, and now your energy bill will too.

What if remotely managing your apartment’s energy use was as convenient as remotely requesting an Uber for the airport (or declining a call from a co-worker while you relax at the beach)? Mic drop- it’s a convenient luxury affordable to both renters and operators.

So let’s get into it. How does remotely managing apartment units with smart thermostats create futuristic victories for both residents and operators? 

Operators manage units with ease while increasing property value thanks to Quext IoT thermostats.

Due to advanced IoT technology, property staff no longer needs to take time out of their workday to trek across property in blazing summers or freezing winters to ensure vacant units have their thermostats adjusted appropriately. Instead, operators can now remotely manage the temperature of units to save money on vacant units, ensure all units comply with freeze warnings, and more.

It’s not just about operating convenience; Quext thermostats also target property value. Remember, residents are willing to pay more for cutting-edge technology. Specifically, 69% of respondents in a study with RENTCafe were interested in living in an energy-efficient building and would pay more to do so. Increased property value is arguably the most significant win for operators.

Quext IoT thermostats give residents the power to determine their energy efficiency savings and cultivate their own luxurious residential experience.

We expect energy-efficient apartments to be a future resident demand as cultural values reflect increasingly eco-friendly and sustainable practices. According to a Deloitte survey from 2021, environmental issues are the number one concern among Gen Z and the third amongst millennials. The significance? Gen Z and millennials make up 34.4% of renters, the largest age group of renters. Considering Gen Z is between the ages of 9 and 24, the percentage of renters with eco-friendly values will grow significantly within the next ten years.

Quext IoT thermostats allow residents to manage energy savings for themselves, cultivating a sense of control in a home they don’t own. Renters who champion eco-friendly values get a say in saving on their monthly electric bills and contribute to global solutions. Additionally, having Quext IoT thermostats on your property can spark a change by setting an environmentally conscious tone. Research from the Nature Human Behavior Journal indicated that it wasn’t one’s attitudes or beliefs regarding environmental energy use that determined their behavior. Instead, it’s one’s perception of their neighbors’ view on saving energy as essential to saving the environment that motivates their behavior. For example, suppose all neighbors in your apartment complex used smart thermostats to save on their monthly electric bills and contribute to the environment. In that case, it’s safe to say the value you would assign to your Quext IoT thermostat would increase.

Energy efficiency and monthly savings are noble reasons residents desire smart thermostats. However, the luxurious convenience they provide is an equally valid reason to expect next-level apartment technology. Let’s be honest; the average person doesn’t look forward to getting out of their warm cozy bed on a cold winter morning. The ability to either remotely change your unit’s temperature from bed or program it, so it’s warm before you get out of bed in the morning is the ultimate luxury. While crawling out of bed on frigid mornings is not a generational curse, it has been a significant inconvenience for arguably all of human existence, this generation included. All that to say, Quext is happy to provide the solution. 

 

We’ve defined the win-win scenario for residents and operators. Now it’s up to you. Are you going to take the next step to provide your team with remote unit management and your tenants with an enhanced residential experience? If yes, then meet us over at Quext IoT.

At Quext we have one focus: designing intuitive, easy to install, and powerful solutions that help build safer, happier apartment communities. In other words, we only build the kind of innovative technology that we would want to use in our own properties. Whether it’s property-wide wifi solutions, digital AI chatbots, integrative apartment websites, or cutting-edge IoT, Quext delivers innovative property management solutions that benefit everyone from investors to residents. If you’re interested in learning more about how Quext technologies can enhance your apartment community, contact us today.

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