News:
Owners Developers & Managers
Posted: February 2, 2024
Smart homes – The new standard in apartment living?
With an increasing number of tenants representing the Millennial and Gen Z generations, (and of course, many tech savvy Baby Boomers) property technology is becoming more of an expectation and less of a perk.
Today’s hotels offer rooms that allow visitors the ability to do just about anything from their mobile phone, iPad, or laptop and renters are starting to call for the same.
There is no question that so-called “smart apartments” with amenities can make life more convenient for tenants. The list of available smart features includes keyless entry, thermostats, lighting, appliances, smoke and carbon monoxide detectors, package lockers and video doorbells – all with the capability to enhance the resident experience. And let’s not forget high-speed Internet for the growing number of people who work exclusively or part-time from home.
For some, the upfront expense to integrate smart technology into their rental properties may not be worth the investment. The value of knowing what tenants want – and just as importantly, don’t want or care about – can’t be overstated. The majority of the renter population in one property may be willing to pay for the technology, while a converse population may not.
That said; the advantages of smart home devices are many. Residents may benefit from convenience, improved safety, and energy savings while landlords/property managers can attract younger renters, automate operations, streamline the leasing process, and increase net operating income. On the flip side, not all smart home technology will be compatible with residents’ devices and network outages could lead to a flurry of frustrated phone calls.
No matter the highs or lows, the fact of the matter is that technology is fast redefining what constitutes basic services for rental dwellers.
Chris Salamanis-Rivera is the 2024 IREM Boston Chapter president and vice president of learning and development at Beacon Communities, Lynn, Mass.
IREM Boston hosted their
Holiday Gala on December 6th
David Flad, Sarah Friedman, and Steve Gilmore Jr.
Maria Benway, Steve Gilmore Jr., and Steve Gilmore.
MORE FROM Owners Developers & Managers
Windsor approves redevelopment of 500 Day Hill Rd. for mixed-use residential community
Windsor, CT The town has granted approvals for the redevelopment of 500 Day Hill Rd., clearing the way for a mixed-use residential community that will convert a former office campus into a housing development totaling approximately 300 residential units
.png)
Columns and Thought Leadership
Revitalized Town Centers: Retail??? - by Carol Todreas
It is now widely accepted that customers want to shop in person at physical stores. Brands know that they do better business in a physical store than just on line so they want to open stores. Demand for retail space by digital merchants, local entrepreneurs, and newly developed national chains
Retail infill strategy to activate Pawtucket’s Conant Thread District - by Gaetan Kashala
Until recently, the Conant Thread District consisted of approximately 150 acres of underutilized industrial land spanning Pawtucket and Central Falls. Today, the area is one of the most significant
Florida ruling raises bar for condo terminations and buyouts - by Michael Karsch
On October 14, 2025, in a landmark decision with significant implications for the Florida real estate market, the Supreme Court of Florida formally denied Two Roads Development’s (TRD Biscayne LLC) petition for review in its long-running case against unit owners of Biscayne 21,
IREM president’s message: Our new reality - Staying ahead of supply chain delays - by Yoany Vargas
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and
 (1).png)