July 29, 2024
What is Smart Technology?
Key takeaways
- Smart technology refers to network-connected devices and systems that can be managed remotely and provide personalized user experiences.
- Examples of smart tech in apartments include smart locks, thermostats, lights, leak sensors, and access control systems, which enhance convenience and efficiency for residents and staff.
- True smart technology requires reliable connectivity to deliver meaningful and seamless experiences, distinguishing it from offline tech that lacks such integration and remote capabilities.
“Smart technology” is a buzzword these days, but what does it actually mean? Typically, the qualifier ‘smart’ indicates that a device or system can gather and process data to operate more effectively and deliver premium, personalized user experiences.
Smart technology has evolved over the last several decades, collectively forming the Internet of Things (IoT), a network of devices and technologies that can communicate with each other.
Today, smart tech is increasingly finding a place in homes and apartments. In multifamily in particular, technology has enabled modern smart apartment buildings, which use sensors, devices, and software to enhance experiences for residents and staff alike.
Let’s dive deeper to define smart technology, review some examples, and understand what it isn’t.
What is smart technology?
The definition of smart technology is devices and systems that are powered by a
reliable network connection and can be managed remotely within a single platform.
In homes and apartments, smart technology comprises digital access control, property automation, and building intelligence solutions that communicate with each other to create a unified experience.
Reliable, remote connectivity is the crux of smart technology. Without it, the technology isn’t truly smart. So-called “smart” technologies that can’t communicate with each other are called offline technologies. At apartment buildings, offline technology prevents the meaningful experiences that modern residents expect.
What are examples of smart technology?
These days, it seems like every kind of product can be “smart.” Modern smart technology examples include smartphones, smart cars, smart appliances (like refrigerators and ovens), smart watches, and smart glasses.
In multifamily, smart tech is designed to enhance and simplify the processes of managing and living in an apartment building.
5 examples of smart technology in apartments are:
- Smart locks
- Smart thermostats
- Smart lights
- Leak sensors
- Smart access control systems
1. Smart locks
Smart locks are electronic locks that can be controlled without a physical key.
On apartment unit doors, smart locks maximize convenience and safety for residents. Residents can check the status of the lock from anywhere and easily grant access to trusted visitors, like friends and dog walkers.
Pro tip: Keep in mind that some locks claiming to be “smart” aren’t all they’re cracked up to be. For example, locks that accept PIN codes or Bluetooth credentials aren’t actually smart because you can’t control them from afar.
2. Smart thermostats
A smart thermostat is a thermostat that automatically adjusts temperature settings to optimize energy usage and can be controlled from afar with an internet-connected device.
Residents appreciate being able to save on energy bills and control the temperature in their units from anywhere. Smart thermostats also help property staff reduce utility costs and prevent temperature-related damage in vacant units.
3. Smart lights
Smart lights are fixtures and bulbs that can automatically sense and interact with their environments and other smart devices.
Just like smart thermostats, smart lights can be controlled remotely. Residents can check to make sure they’ve turned the lights off after leaving the house to save energy and set automations to turn lights on or off at certain times or under certain conditions.
4. Leak sensors
Smart water leak detectors monitor water flow to detect potential leaks. They mitigate water damage by automatically alerting you to minor leaks before they become major problems.
5. Smart access control systems
A smart access control system is a network-connected system that manages access to certain spaces and empowers users to control and monitor access from afar.
Smart access control systems ditch traditional locks and keys in favor of more convenient credentialing, like smartphone apps. Because they’re network-connected, smart access systems allow residents to check lock statuses remotely and empower staff to see who’s coming and going or grant access from afar.
The best smart access control systems also integrate with other smart devices and tech solutions, like property management software.
What smart tech isn’t
Let’s be honest: The word “smart” has been slapped on virtually every product imaginable. Calling a device ‘smart’ makes it sound more powerful and modern.
But don’t be fooled.
Devices without a network connection and a platform supporting them aren’t truly smart.
For example, if you walk into Home Depot and grab a keypad lock off the shelf, don’t assume it’s smart just because it doesn’t require a physical key.
If it’s not connected, it’s not smart
Calling a device that isn’t network-connected is a misnomer.
Connectivity is what powers smart devices and smart tech platforms. It’s what unlocks convenience and efficiency for everyone at the property, from residents to staff to visitors.
Connectivity enables the impactful experiences that residents and staff want, like:
- Remotely granting access to a dog walker
- Turning on the AC on your way home
- Automating the work involved in managing vacant units
- Detecting leaks and automatically informing the right people
But remember: Smart device connectivity is not the same as internet connectivity.
Smart device connectivity is not the same as internet connectivity
It’s easy to assume that as long as you have an internet connection, your smart devices will be ‘connected.’
But the reality is that device connectivity is separate from other connections, like your broadband network.
To enable the experiences that actually add value for residents and staff, your smart device connectivity network needs to be thoughtfully designed with your property in mind.
Examples of offline technologies
- Locks that require a physical credential, like a key card, fob, or Bluetooth device
- Locks that only accept PIN codes
- Bluetooth readers on common area doors
What does smart tech do?
Now that we know the difference between smart tech and offline tech, let’s explore the purpose of truly smart technologies.
What is the point of having smart tech?
Smart tech is designed to:
- Simplify and automate tasks: Smart tech should make it easier to live and work in a building. At an apartment community, smart tech can simplify staff’s jobs with automations like locking vacant unit doors and revoking a resident’s property access when they move out.
- Enable communication between devices: Devices on their own are far less powerful than when they’re connected to other devices, between which they can share data to improve operations.
- Provide real-time alerts: Technology has helped humanity get informed faster. Smart tech delivers relevant alerts to the right people to keep them in-the-know about what’s happening at the building.
- Improve efficiency: Smart tech enhances efficiency, both in terms of energy consumption and resource usage. For example, a smart thermostat helps reduce energy bills and automate a process so staff can reallocate resources to other tasks.
How smart technology works
We’ve covered that smart tech leverages reliable, remote connectivity to enable experiences that add comfort and convenience to daily life — but how does smart technology work?
Smart devices rely on connectivity standards to transfer data between other devices and networks. Depending on how a given device is designed and manufactured, it will use a certain wireless communication protocol to “communicate.”
Smart tech connectivity methods include:
- Cellular: One of the most powerful connectivity models for smart tech, cellular offers among the highest bandwidth and longest range with low latency to boot.
- WiFi: A household name, WiFi is one of the most common wireless networking standards for smart tech. It offers high bandwidth and medium range with relatively low latency, but isn’t optimized for battery-powered devices.
- Bluetooth: Bluetooth is a high-bandwidth (though lower than those listed above it) wireless protocol with a short range — the shortest among all connectivity technologies.
- Z-Wave: A popular mesh networking protocol with medium bandwidth and range and low latency. Z-Wave is a good fit for battery-powered smart devices.
- Zigbee: Similar to Z-Wave, Zigbee offers medium bandwidth and range and low latency, and is also optimized for battery-powered devices.
- Thread: One more mesh network option. Just like Z-Wave and Zigbee, thread offers medium bandwidth, medium range, and low latency.
- LoRaWAN: The most unique of the wireless connectivity methods, LoRaWAN is a less-common protocol that offers low bandwidth and high latency but a long range.
- Wired Ethernet: If you opt not to go wireless, you’ll get the highest bandwidth and lowest latency with Ethernet. However, going the wired route comes with certain drawbacks, and isn’t optimal for battery-powered devices.
Depending on the connectivity methods your smart devices use, you may need certain pieces of hardware to enable communication throughout the system. Bridges, hubs, and gateways are common network devices.
Here’s an example of how Zigbee devices connect to network devices to maintain a connected system:
What are the benefits of smart technology?
You’ve learned what smart tech is and how it works. But what’s the payoff? Why bother investing in multifamily smart technology?
Benefits of smart technology for apartments include:
Retain existing residents
Adding smart technology to an apartment building will enhance the resident experience and encourage residents to stick around longer.
82% of renters say they want smart tech in their next home because they’re looking for the convenience and comfort that technology provides. From one app, residents can control the temperature, lighting, and locks in their units, while effortlessly navigating the community — those experiences are hard to give up, making residents more likely to renew year after year.
Reduce operating costs
- Eliminate rekeying costs. By ditching physical keys, you’ll completely eliminate rekeying costs. Given that the average rekeying cost is $50/unit and that turnover expenses are on the rise, this is a big opportunity for cost savings.
- Reduce vacant unit utility costs. Solutions like smart thermostats will automate the temperature in vacant units and reduce monthly energy bills.
- Save time with keyless access. Keyless access doesn’t just eliminate rekeying costs, it also saves time — and in property management, time is money.
- Save time manually checking vacant units. Staff won’t have to waste time walking the building to check on vacant units, allowing them to allocate those resources toward more revenue-driving tasks.
Attract prospective renters
Smart tech doesn’t just delight current residents — it also attracts new prospects.
Apartment technology is easy and effective to show off during leasing tours. Prospects who see the magic of unlocking community-wide doors and controlling in-unit temperature with one app won’t forget that experience.
Enhance safety
Smart technology helps foster a safer community and give residents peace of mind. Not only can residents remotely check the status of their unit locks, but they can also monitor access in real-time. Wherever they are, they’ll be able to see who’s trying to get access — without sacrificing privacy or exposing the property to legal liability.
Staff can also keep the property safe with smart tech by automatically locking vacant units. This helps prevent squatters or other unauthorized people from accessing vacant units.
Protect the property
Complementing safety, smart tech also protects the property from physical damage.
Two great examples are leak detectors and smart thermostats.
Smart leak detectors can reduce the frequency and severity of leaks, and prevent minor leaks from becoming major, expensive problems.
We had a unit…that had a leak from an upstairs water heater that could’ve made a terrible impact on the upstairs and downstairs unit, but because we have Ambient leak detectors, we were notified as well as the resident! This could’ve been a disaster of a situation that would’ve caused high expense, time, and negative retention.
Smart thermostats prevent temperatures in vacant units from reaching unsafe highs or lows. This helps prevent temperature-related damage like frozen pipes and mold.
Join the smart tech revolution
Smart technology has transformed modern living and is making particular strides in the multifamily industry. By integrating devices that communicate seamlessly, apartment communities can offer enhanced convenience, efficiency, and safety.
See what your community could look like with smart tech by chatting with our team of experts at Ambient.
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