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Report from 2022
Necessity is the Mother of Invention: When Technology Becomes an Amenity
For all the attention given to resident preferences and the constant search for the next “it” amenity in new construction, relatively little coverage addresses how technology can be leveraged as a resident-facing amenity and a tool to achieve scale, among other benefits. While larger garden-style and mid-rise operators anguish over whether to add a dog washing station or a bike repair facility or programming such as wine mixers or yoga classes, smaller-scale assets often don’t have management offices or maintenance shops, much less space for dog runs and fitness studios. And yet smaller-scale apartment assets — under 50 units — make up the majority of apartment properties in the United States. According to the National Multi Housing Council, of the nation’s 31 million apartment buildings, 97 percent are under 50 units. So, how do smaller assets compete? By utilizing proptech, which places innovation at the center of the resident experience and enables operational scale.