There Are Surprising Gaps in Apartment Tech Practices
Apartments have increasingly turned to technology to help navigate the pandemic, with operators implementing everything from electronic access control systems to Gen Z-friendly features such as smart thermostats and energy-efficient appliances.
Yet, the back-end of these operations are looking less-than-friendly for users concerned about security or interested in more innovation, according to the NMHC/One11 Advisors Apartment Industry Technology Benchmarking report, which took a look at how apartment companies are supporting the technology they use.
The survey aims to provide a snapshot of the many ways that technology is being addressed at apartment companies of different sizes. The report includes survey results from almost 50 technology leaders in the industry.
Forty-three percent of those surveyed do not have staff focusing on cybersecurity. Only 32% of respondents said their firm had staff dedicated to innovation, while 68% did not have staff focused on innovation.
When asked what percentage of IT spending was in-house, 38% of respondents noted that 80% to 100% of expenditures were in-house. Another 38% answered that 0% to 20% percent was in-house.
Half of the respondents said that the head of IT reported directly to either the CEO or CFO in their firm. However, that tended to change depending on the size of a company. More than 50% of respondents said the head of IT in their firm had other titles, or there was no in-house head of IT.
Thirty percent of respondents said the head of IT was the Chief Information Officer in their firm and 19% said senior vice presidents filled that role.
The influx of Gen Z into apartments could force operators to emphasize IT’s importance in their organizations. Born after the advent of cell phones, members of Generation Z place a high value on technology, turning some traditional wisdom on what’s important to renters on its head.
A recent survey by RENTCafe found that 28% of Gen Z respondents said apartment technology was extremely important, while 34% said it was very important. In both cases, those percentages were higher than any other generation.
Zillow reported that over six out of 10 of Gen Z renters who moved in the past year wished more listings offered a 3D tour (62%), and agree that three-dimensional tours would help give them a better feel for a space than static photos (64%).
Source: globest.com
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