#USA #Plano #Parks Associates #Building Intelligence #DOOR Research

Enhanced Efficiency in Multifamily Properties

In a rapidly evolving technological landscape, the real estate sector, specifically the multifamily segment, is experiencing significant advancements due to the adoption of connected building systems. Recent research presented by Parks Associates and DOOR highlights that the integration of smart technologies is transforming traditional building management into a dynamic and efficient operation.

Key Findings

At the forefront of these findings is the impressive 20% average increase in operating efficiency observed in properties that have implemented connected building systems. These technologies not only streamline operations but also contribute to substantial financial savings.

Among the notable data points revealed in the study:

• - An 18% reduction in operating costs is achieved through the deployment of integrated smart building technologies.
• - Energy expenditures are curbed by 19%, while 18% savings on water costs are reported with the use of these systems.
• - Additionally, properties utilizing connected solutions have witnessed a 21% decrease in safety and security incidents.

The Shift to Building Intelligence

As per Kristen Hanich, Senior Director of Research at Parks Associates, “Smart building technologies are evolving into core operational infrastructure for multifamily properties.” This transition signifies a shift from isolated smart home solutions to a more cohesive strategy known as Building Intelligence. By merging access control systems, IoT signals, and property data, operators can manage their facilities with enhanced visibility and automation.

Adoption of Smart Technologies

The report underscores that a significant 70% of multifamily companies have already adopted smart door locks for at least one property. The trend is especially pronounced in luxury sectors where adoption rates rise to 91%. These smart technologies allow for better management of access for residents, staff, and vendors, which is pivotal for ensuring security and operational efficiency.

Dave Lillis, CEO of DOOR, remarked on this evolution, stating, “Multifamily is moving beyond point solutions toward a more integrated way of operating. As these systems coalesce, operators can run their properties with greater clarity and control.”

Research Methodology

The analysis presented in the report comprises surveys from over 700 apartment residents located in U.S. internet households and insights from 300 decision-makers within multifamily property companies. This comprehensive study collects direct feedback over a period spanning from 2024 to 2025, ensuring that the findings are timely and relevant to current industry conditions.

Future Implications

As the multifamily sector taps into the power of connected building systems, the future looks promising. The efficiencies gained through these technologies not only improve financial health but also the overall quality of life for residents. Parks Associates continues to support industry stakeholders in navigating these transformative changes, providing them with data-driven insights and strategic analysis that fosters growth and innovation.

Indeed, the journey from smart homes to comprehensive building intelligence is just beginning, and it holds the potential to redefine the landscape of property management in the years to come.

For more detailed insights, the complete report, From Smart Home to Building Intelligence, is available for download, and interested parties can reach out directly to analysts for further information.