What to Expect from Multifamily Tech in 2025
The multifamily industry continues to evolve, driven by exciting technological advancements that are, in part, a response to shifting resident expectations. As we look ahead to 2025, several key trends are set to shape the landscape, offering property managers valuable opportunities to enhance efficiency further, strengthen security, and improve resident satisfaction.
Here, we round up the top five technology trends we expect to see this year in the multifamily industry:
1. Expanding Role of AI
Artificial Intelligence (AI) in property management is set to play a crucial role in automating routine tasks and enhancing decision-making by offering enhanced analytics. From screening residents and managing leases to predictive maintenance, AI tools can streamline time-consuming tasks, freeing up time to focus on more strategic jobs.
For instance, AI-powered Internet of Things (IoT) devices can monitor heating, ventilation, and air conditioning (HVAC) systems, notifying managers of potential issues before they become costly problems. This shift towards predictive and preventative maintenance minimizes disruptions for residents and optimizes operational costs.
2. Self-Guided Tours as a Standard Practice
The adoption of self-guided tours (SGTs) is expected to become a norm in multifamily property management. Prospective residents value the flexibility of touring properties at their convenience, and SGTs offer an efficient way for managers to showcase units without staff involvement, saving managers both money and time. Enhanced with access control technologies and customer relationship management (CRM) integrations, SGTs significantly streamline the leasing process.
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3. Addressing Multifamily Insurance Challenges
As the costs of multifamily insurance continue to rise, multifamily technology offers a pathway to mitigate risks and potentially reduce premiums. Smart water and leak detection systems, for example, help prevent damage and avoid expensive claims.
Similarly, AI-driven tools for predictive maintenance reduce the likelihood of large-scale emergencies, giving insurers confidence in the property’s risk management strategy.
4. Enhancing the Resident Experience Through Technology
2025 will see a focus on technologies that cater to residents’ comfort and convenience. Multifamily technology solutions like smart locks, smart video doorbells, and smart HVAC systems continue to gain popularity, offering residents a secure and customizable living environment. These tools align with growing expectations for tech-enabled homes while helping property managers improve resident retention rates.
5. Centralization for Streamlined Operations
Centralization will continue to be a focus this year as property managers seek ways to unify fragmented systems and processes. By consolidating tasks like leasing, maintenance, and resident communications, property managers can reduce overheads while delivering a more seamless experience for residents.
As well as increased operational efficiency, centralized technology platforms bring together in-unit amenities such as smart thermostats and water management systems with external tools like perimeter video security, into one platform, offering a holistic view of property operations.
Source: Multifamily Insiders
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