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Tuesday, November 1, 2011

Technology Trends in Multifamily Housing

Multifamily executives must enduringly rate new technology hardware and software products at the same time they are integrating current tools, upgrading patrimony systems and training staff to take advantage of underutilized components of programs they already have in place. As speedily as things are changing in this area, it can be a real challenge to keep up.

Social Media

Augmented Reality

It can be difficult to know exactly how communal media like Facebook and Twitter conduce to the bottom line in apartment communities. Many apartment managers and owners feel obligated to enunciate Facebook fan pages naturally because all their competitors have one. But is it as important as a clean pool, nice landscaping and a friendly, knowledgeable staff? agreeing to a large search for of apartment residents conducted by J. Turner Research, only 8% had ever visited a community's fan page.

On the other hand, many apartment managers are using communal media to heighten their rankings in the hunt engines at the same time they're slashing their print advertising budgets. Plus, the only cost linked with a Facebook page is the staff time to generate it, and occasionally modernize it. A small price to pay for an online proximity that never goes away.

Mobile Phones

There are now more Americans with cell phones than whether internet entrance or cable Tv, and an estimated 70 million of us usually use movable web browsers. Google recently released Android, a software container for movable devices, and on February 16, 2010 they announced that 60,000 cell phones with Android are shipping every day. Apple recently marked their 4 billionth app download, so as you can see, movable devices are here to stay.

Udr, a Colorado-based Reit that owns 45,000 apartment units nationally, says that 9% of its web visitors in 2009 used phones for access, viewed over 400,000 pages and created 97 movable leases. No doubt these numbers will continue to grow.

Udr was also the first to generate an "augmented reality" app for multifamily. A potential renter can point their phone's camera at an apartment and see pricing and availability data superimposed over the live picture. After launching in September 2009, Udr had over 125,000 downloads by the end of the year. Other firms have already created similar proprietary apps and more are sure to follow.

Web Portals

Another large and growing trend among apartment communities is the development of integrated websites that serve tenants and free up staff for other duties. Already, residents can pay rent online and submit work orders. Some properties even send out lease renewals with incentives for renewing early online. Freed from these mundane and time-consuming tasks, onsite personnel can spend more time showing apartments and performing other duties that increase resident satisfaction.

As you can see, technology is starting to rapidly convert the world of apartment management. I'm sure that apps for the iPad are already in development that will continue to accelerate this trend for the foreseeable future.

Technology Trends in Multifamily Housing

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