What would you consider is more important? Your own parking space, or the convenience of a 24/7 home assistant? NBN Co recently found that 44 percent of millennials would rather a smart apartment. So, what are the benefits of owning or renting a smart apartment? Let’s dive in and discover what smart apartment trends are driving this demand.
Who Benefits from Smart Apartments?
So, what is driving the emergence of smart apartments? Millennials are prepared to move to wherever the best jobs are and rarely stick to one employer for more than a few years. Smart apartments facilitate a convenient and hassle-free move.
Have you ever moved into a new apartment and spent days, or even weeks, trying to organise your Wi-Fi, water and electricity setup? It’s an inconvenient and time-consuming process. Smart apartments have these services integrated into one platform. It makes it easy to transfer all of your services to one place.
As renters drive demand for smart apartments, property owners and investors are jumping on board. According to a recent study, 86 percent of renters under 35 are willing to pay more for smart apartments.
This refers to apartments equipped with automated or remotely controlled devices. It also includes innovations such as temperature management, automated lighting and fast internet. This new trend doesn’t just include the younger generation.
This same study found that 65 percent of baby boomers are also willing to pay higher rents for this technology. As more people want to invest in smart apartments, the industry will need to adapt. Property owners, architects and builders need to assess how they can integrate these technologies in their projects.
Get an Experienced Smart Home Partner to Support You
SMARTHOMEWORKS can help with your smart apartment project. From planning and quoting, through to implementation and support. We are working with the latest technology and have rigorously tested hundreds of innovations.
Over the last decade, we have found and proven systems that are reliable and scalable. Such as Control 4, eKey, Dynalite, Savant, CBus and more that can be found on our website.
These systems have worked for multi-million and billion dollar properties in Sydney. We are an experienced home automation company that doesn’t only work with luxury residential projects. We also help with smaller integration jobs.
Some clients just need planning or documentation for their electricians, while others are looking for an end to end solution.
Here at SMARTHOMEWORKS, we integrate all your smart devices and technologies into one smart operating system from lighting, temperature, security and irrigation automation. So you can orchestrate and control ALL your automation from a single app or control panel.
Access Control and Monitoring on your Phone
One of the main benefits of this technology is the extra level of security it can offer. Keyless properties and remote access is a big selling point for apartment residents. An example of this is the technology to recognise a resident’s smartphone when they arrive.
They gain access to their apartment without the need for a swipe card or key. It’s still not a problem if the resident is away and an invited guest visits or tradesperson is required. The resident can simply tap a button on their smartphone to let them into the building.
This technology also acts as an extra level of security for residents, owners and managers. Property managers and owners can get a better understanding of what is happening in the building.
The technology can monitor for fire, carbon monoxide and even uninvited visitors. They can be alerted to unauthorised access to the building in case of a burglary. For residents, smart apartment security systems have sensors and cameras to regularly monitor the space. Smart apartments provide peace of mind, no matter where you are.
How Can Smart Apartments Save Costs?
Another popular smart apartment technology is temperature control. The temperature can be pre-set by residents to start before or after they walk in. One way this can be utilised is to have the air conditioner or heating turn on when someone enters the apartment. It can also be set up to automatically turn off when the resident leaves.
This technology is especially beneficial to smart apartment owners and residents as it offers a more economical temperature management system. By incorporating smart temperature technologies into apartments, residents don’t have to think about switching off their air conditioning or heating to save on electricity.
A similar technology is automated lighting. This technology can be programmed to turn on when someone is home, or even respond to the time of day. It can also use its sensors to assess how much ambient light is available and react accordingly. Similarly to smart temperature management, lighting control offers energy and cost savings for smart apartment residents and owners.
This has an even greater effect when incorporated into a smart apartment block, as the entire building reduces its running costs and carbon footprint. It can be hard to keep track of where and how you are consuming unnecessary energy, so let your smart technology take care of it for you!
How Sydney Smart Apartment Saves $61,000.00 Annually
A recent study found that smart apartments can save you thousands of dollars each year. In Sydney, more than 50 buildings are saving on running and maintenance costs. A 15-storey apartment building in Waterloo is now saving $61,000 each year. This works through lighting upgrades and adjusting timers on car park exhaust fans.
Another example is a 66-unit apartment building in Redfern. This building is saving 82 percent in energy through lighting upgrades and heat pumps for the pool and spa. These are huge savings just for one block of apartments. If you got these results for multiple apartment blocks, you could pass these efficiencies on to a city and a country.!
At SMARTHOMEWORKS, we can help design smart systems that slash your running costs and enhance the living experience for residents. This results in higher value for your property and more demand from buyers and renters. We take the extra steps to design a smart system with effective consumption reporting. This system can benefit you, your wallet and the environment.
Local Government Appetite for Smart Apartments
These technologies are so effective, local governments are integrating them into their projects. For example, the City of Sydney currently has plans to work with smart technologies. Over the next 10 years, they plan to work with 20 high-rise buildings a year. They want to reduce running costs and their carbon footprint. This includes reducing water consumption and improving waste management. These projects are seen as smart, green apartments.
If you’re interested in trending smart technologies including voice assistants, home entertainment systems and smart appliances. Check out this year’s top smart home trends in our article.
If you are an architect, builder or property owner, this demand can open up many opportunities. Here at SMARTHOMEWORKS, we can help you with innovative technology for smart apartments that complement the interior design or architectural style of apartment buildings.
We have access to all of the products on the market and our knowledge allows you to integrate it all into one smart operating system. Our talented team would love to help you create the best project for yourself or your client. Contact us here to book a free overview. We look forward to working with you soon.