How Technology is Transforming Residential Living
One of the biggest changes the pandemic brought to our lives is the shift to digital. Almost overnight, our lives moved online. And what were emerging trends for multifamily residential that were still seen as nice-to-have luxuries suddenly became essential.
In this article, we look at how digitalization and technology has changed residential living dramatically. We explore some of the trends we think are set to stay even as the economy and world recovers from the effects of the Covid-19 pandemic.
Trends covered in this article:
Fitness amenities get more high tech
Amenity booking apps take center stage
Building administration goes digital
Package lockers optimize deliveries
Smart home technology is on the rise
WFH amenities become more essential
Fitness amenities get personal.
Peloton made personalized fitness training mainstream. For instance, a customer’s very first interaction with Peloton involves taking a test-ride to assess a user’s baseline. From the data gathered from users, Peloton shows users customized training programs appropriate for their fitness levels and allows them to track their progress through gamification.
But personalization doesn’t only have to be high tech. Even properties that may not choose to invest in pricey Peloton machines are increasingly offering personalized amenities such as virtual personal training memberships. URBN Burn, our proprietary fitness program, is one such program that we offer in properties we manage. When residents sign up for a package, they receive a personalized training plan based on their fitness goals and level, and have live, one-on-one coaching and consultation sessions with our fitness trainers.
Amenity booking apps take center stage.
One of the big trends that emerged during Covid-19 was the trend of contactless interactions. We think this trend is set to stay even post-Covid-19, as it goes hand in hand with the concept of frictionless customer service. Residents are realizing that contactless also equals convenience and not having to go to a specific counter or wait around to be served.
Through amenity booking apps such as the URBN Playground app, residents can book amenity spaces, services, and appointments. The URBN app can be configured to a property’s available amenities and services, including everything from cleaning to grocery shopping, pet sitting, mani/pedis, personal training, and more.
Building administration goes digital.
As the contactless trend continues, this also extends to recurring transactions like paying rent and making building maintenance requests. In response, digitized resident portals have sprung up to cater to these needs. Such platforms have allowed building managers to manage maintenance requests more efficiently while making the process more convenient for residents, as well.
Companies that have eliminated paper-based checks and moved payments online report on average a 50 percent decrease in delinquencies and a 65 decrease in the time staff members spend processing payments.
Package lockers optimize deliveries.
Amenities and maintenance requests are not the only services going digital. Even package rooms are transitioning into the digital age. The shift to digital has already been happening, with large buildings using mailroom management software to help package room staff to keep track of inventory and collections more efficiently. Smart package lockers are also eliminating the need for staffing a package room altogether.
Package lockers allow residents to receive larger packages that can’t fit in mailboxes, and pick up those packages at their convenience from a locker that is storing their package. This is done using some form of ID verification, either using a fob key, pin code, access card, or QR code to unlock the package locker.
While this solution reduces the staff headcount needed, it’s also easier for residents, who can now self-serve and access the package room at any time, 24/7, when it’s convenient for them. Having packages stored away in individual lockers also makes the package room look neater and less cluttered.
Smart home technology is on the rise.
With 66 percent of Americans admitting to sleeping with their phones at night, smartphones are becoming more and more integrated into our daily lives. Along with this trend is the growing adoption of smart home technology, which not only provides convenience but efficiency and potentially even energy savings. Some building developers are starting to integrate smart home technology into the design of multifamily units, as well.
For instance, the world's first Net Zero Energy high-rise multifamily building that is being developed in Seattle's Belltown neighborhood, will make use of top-tier smart home features such as app-controlled blinds, thermostats, lighting and locks.
WFH amenities become more essential.
It’s not just Microsoft that is fundamentally rethinking the way we work with its latest announcement of the Windows 11 features. Building developers are starting to realize as well that many trends related to working from home / hybrid working are likely to continue well after the pandemic recedes.
Many people have now discovered the flexibility and convenience of working from home - but are clamoring for better amenities to support this new work set up. At the top of the list of WFH amenities valued by residents are: 1) Wireless self-service printing, copying, and scanning, and 2) Faster internet. These two perks alone trumped amenities like individual working pods, video chat booths, in-home office design services, and office equipment rental services, in a recent survey by Satisfacts.
In response to this demand, developers have elevated high speed Wi-Fi from a nice-to-have amenity to an essential service. Just two years ago, in 2019, only 5% of new luxury property developments had a managed Wi-Fi system. This year, roughly 70% of new developments are installing a managed Wi-Fi system, according to RealPage.
Work with us to digitize your building amenities
We hope this list of trends has given you some insights and food for thought. We’d be thrilled to speak with you or arrange a complimentary consultation call to discuss your building’s digital needs.