When it comes to selecting the perfect place to live, most students have multiple housing communities to choose between. With property managers aiming to get as many heads in beds as possible each year, what measures can be taken to make a housing community more appealing to both existing and future residents?
Modern amenities are a good starting point. As quickly as new technology trends are emerging, housing communities are adapting to provide a ‘smart living’ experience to residents. This might include installation of the latest IoT devices and sensors within units, and an app that provides residents with the convenience of being able to control their thermostat remotely. For tenants that are responsible for paying for utilities, the perk of being able to manage their energy consumption from afar enables them to cut down on their monthly bills — and who doesn’t love to save money? Additionally, providing the ability to adjust the thermostat accordingly before arriving home is a great way to optimize tenant comfort.
Another way IoT-powered devices can be leveraged to improve resident satisfaction pertains to proactive maintenance. Property staff will likely agree that the entire process of handling maintenance issues is one of their biggest pain points — but it’s just as much of a hassle for the tenant. With many students having an inconsistent schedule, it’s common for maintenance malfunctions to go unnoticed. It can sometimes be weeks before a tenant even realizes there is an issue — which is especially inconvenient if that realization comes at 10 o’clock at night when the maintenance manager has gone home for the day. Not to mention the nuisance that comes with having to wait at home during a service call while staff rummage around inside a residence, trying to identify the source of the problem.
IoT devices, when integrated with a robust reporting software, can be used to monitor equipment performance and real-time conditions within individual residences. Property managers have unprecedented visibility into metrics like equipment run-time, thermostat set point, temperature and humidity levels, which empowers them to detect maintenance issues immediately – oftentimes before a resident is even aware one has occurred. This not only helps prevent the need for costly repairs, but alleviates the need for a tenant to be home to report any issues.
Housing communities generate an abundance of valuable data, whether it’s being captured or not. The installation of a Facilities IoT Management Solution can provide properties with an effective way to monitor and analyze that data so that it can be leveraged to reduce costs and optimize the resident living experience.
IoT is changing the way residents live and property managers work… Is your community on board yet?
— Kevin Exner is the Director of Sales for TrustHab, the first Facilities IoT Management Solution purpose-built for the Student Housing industry. The Solution empowers property managers to reduce costs associated with utilities and maintenance, and increase NOI.