Parks Associates: MDU property owners and managers report increased efficiency with smart locks and access controls

June 20, 2024
Parks Associates' latest research finds a high interest in energy systems and services among MDU property owners and managers.

Parks Associates will present multifamily housing research at two upcoming events, including this week at Apartmentalize, hosted by the National Apartment Association, following by the Smart Spaces virtual session "Smart Living: Attracting and Retaining Residents" on July 23.

  • At Apartmentalize, Jennifer Kent, VP, Research, Parks Associates, is speaking on the session "Seamless Connectivity: Where in the WiFi is Waldo?" on June 21, in Philadelphia, PA, starting at 1 PM.
  • Kent and Kristen Hanich, Director of Research, Parks Associates, will host the virtual session "Smart Living: Attracting and Retaining Residents" on July 23, 11 AM CT, featuring a visionary keynote from Thomas Stanchak, Managing Director of Sustainability, Stoneweg US. Then a panel discussion will cover smart living solutions, from automated home systems to AI-driven amenities, and their impact on resident satisfaction and loyalty.

Parks Associates' latest research finds a high interest in energy systems and services among MDU property owners and managers, with 69% showing interest in a backup power service and 56% showing a high interest in a generator for backup power during outages.

"Smart building solutions can create innumerable benefits to multifamily properties, provided the deployment and ongoing support are planned correctly for each property," said Elizabeth Parks, President and CMO, Parks Associates. "These discussions with key executives and stakeholders at Apartmentalize and Smart Spaces are key to share case studies, consumer research, and best practices so that we can maximize the potential for smart solutions in the MDU space."

Parks Associates recently released the white paper "Smart Tech for Multifamily Properties: Understanding ROI," in partnership with SKBM, with insights from interviews with leading multifamily owners, operators, and management companies. In this white paper, properties report a 20% efficiency boost and 10% fewer maintenance requests after installing smart door locks and electronic access control systems.

Parks Associates will host sessions for the second annual Smart Spaces: Apartments, Hospitality, and Community Living throughout 2024. The in-person conference takes place September 24-25, 2024, at the Renaissance Dallas Richardson Hotel in Richardson, Texas, with virtual sessions on March 21, July 23, and December 12. Smart Spaces sponsors include ADT Multifamily, Vantiva, Nice, Cox Communities, Xfinity Communities, Kwikset, Homebase, Calix, Dojo Networks, and Salto.

To schedule an interview with an analyst or to request specific data, please contact Mindi Sue Sternblitz-Rubenstein at [email protected] or 972-490-1113.