Smart Living Gaining Traction over Traditional Luxuries

• Residents are skewing toward high-tech amenities like smartphone connectivity and digital locking systems. Say goodbye to old-school charm like key under the doormat!

• Multifamily residents are showing increasing interest in smart living solutions over traditional amenities, showing a shift in priorities. Virtual high five to our tech-savvy millennials!

• Interests among residents include app-controlled digital locking systems, allowing them to control their home’s access from anywhere, anytime. How comfy to throw a party and not leave the couch!

• New construction projects are now including smart home initiatives right from the blueprint stage. Silicon Valley, meet Main Street!

• The trend is also pressuring existing properties to upgrade to newer tech or risk falling out of favor among tenants. Pressure on, landlords! Better trade that paintbrush for a smartbulb!

The Latest Buzz in Businesses

• Businesses are focusing on incorporating cloud computing, drones, artificial intelligence, and immersive technology. Ditch those spreadsheets, folks; we’re flying high tech!

• Companies in the real estate sector are being encouraged to invest more into technology for two main reasons: increasing efficiency and staying competitive. The race is on… ready, set, innovate!

• Technology is helping businesses to decrease costs and increase profitability by improving decision-making and streamlining operations. Your grandmother’s ledger has officially left the building!

• Tech upgrades are linked to an increase in employee satisfaction rate, leading to lesser turnover and better performance. Roses are red, this isn’t a fable, cranky workers turn happy with tech on the table!

• Companies not adopting technological advances are risking falling behind their competitors. Wake up and smell the silicon, you non-techies!

Meet the Millennial Business Moguls

• Millennials are taking the helm of family businesses. The new generation of business owners are ready to play with the grown-ups!

• The rising millennial entrepreneurial spirit is anticipated to boom the family business holding industry. Millennium Falcon? Nope, meet the millennial dragons!

• Millennial adaptations are changing the familiar command-and-control style of business. It’s all about participation, collaboration, and communication now. Open office layouts are calling!

• The new generation of CEOs are technologically sharp and quickly adapt to the changing market conditions. With a smartphone in one hand and a latte in another, here they come!

Hot Take:

It’s a techie takeover, folks! Whether it’s your apartment complex or your dad’s old business, technovation is the new golden goose. In multifamily living, the battle isn’t about having the biggest pool anymore. It’s about who’s got the fastest internet speed and the coolest smart home gadgets. And in businesses, incorporating high-end technology is the new ticket to the high table. As for the millennials – they aren’t just out there sipping fancy coffees. They’re shifting gears and taking traditional family businesses by storm, all while updating their Instagram stories. So crank up your Wi-Fi and buckle up. High tech life, here we come!

Original article: https://www.inman.com/2023/11/27/these-are-the-top-new-tech-offerings-for-property-managers/