New Study Reveals Half of Apartment Dwellers Concerned About Community Safety

Half of Apartment Residents Concerned About Safety

A recent study conducted by Parks Associates titled Smart, Safe, and Secure Apartment Living indicates that approximately 50% of apartment residents express concerns about their community's safety. These findings underscore a significant trend towards the integration of smart solutions in living spaces as residents prioritize safety alongside comfort and amenities.

The report reveals that renters are showing a growing interest in intelligent amenities, especially when searching for new housing. The study emphasizes how investments in security technologies—such as property access control systems, security cameras, smart locks, and apps—are increasingly appealing to potential tenants.

Kristen Hanich, Research Director at Parks Associates, commented on the implications of these findings, stating that the current Net Promoter Score (NPS) amongst apartment residents stands at -25, suggesting that many renters are dissatisfied with their living environments. She emphasized that property owners can significantly enhance resident satisfaction by improving both safety features and overall amenities.

According to the study, while effective noise insulation is a primary concern for prospective renters, security-focused amenities—including both property and in-unit security features—rank high among desired functionalities. Notably, the research indicates that about 13% of apartment dwellers currently have access to an in-unit smart amenity package. Furthermore, the market potential for property-provided smart solutions is substantial, estimated at around $8.5 billion in the multifamily housing sector.

Interestingly, apartment renters report higher levels of dissatisfaction compared to condo owners, who enjoy a more favorable NPS of 12. The fact that nearly half of renters are intrigued by potential smart home and security features furnished by their landlords signals an opportunity for property management to enhance their offerings.

In response to these safety concerns, many properties are investing in cutting-edge technologies that can significantly improve security measures. As highlighted by Hanich, advancements like AI-driven security cameras, mobile access control solutions, and video intercom systems not only enrich resident convenience but also bolster safety. Such smart solutions are poised to amplify the net operating income (NOI) of properties, especially if targeted towards demographics actively seeking tech-enhanced living conditions.

The findings will be further discussed at the third annual Smart Spaces Apartments, Hospitality, and Community Living event taking place on September 16-17 at HALL Arts Hotel in Dallas, Texas. This executive conference gathers stakeholders from property management, building services, and technology sectors to explore innovations in apartments and hospitality.

The Parks Associates study assesses the interests surrounding smart, secure living solutions while measuring how these elements affect renters' decisions regarding where to live. By comparing new technologies against traditional amenities, the research aims to illustrate the evolving landscape of consumer expectations in the housing market.

This initiative not only marks an essential step toward understanding contemporary resident needs but also sets the stage for future developments in the smart living sector. The demand for secure, well-integrated community spaces continues to rise, prompting property managers to stay ahead of the curve in both upgrades and resident satisfaction strategies.