Smart Home Technologies in Multifamily Housing

Published on October 19, 2018

Smart Home Technologies in Multifamily Housing

A recent report from the market research and advisory team, Navigant Research, has delved into business model applications and opportunities of using smart home technology within the multifamily home market. Digital home technologies such as a smart thermostat, Amazon Alexa, or Google Home contribute to the concept of a smart home, and can play an important role in improving a home’s energy efficiency, and technological connectivity.

Paige Leuschner, a research analyst with Navigant Research, believes that consumers are showing increasing interest in having these digital amenities within their home; and that the multifamily home market remains largely untapped.

“Multifamily buildings are quickly becoming a promising avenue for smart home technology and popular brands are already making moves in this market,” she said.

In order for smart home vendors to capitalize on the multifamily market, Navigant Research suggests that they use the experience they have attained from the single family market, and combine it with solutions designed specifically for the multifamily home market. This applies to telecommunications companies especially, as they may be able to address connectivity problems within multi family homes through preemptive design, and could offer bundled solutions for additional buyer incentive.

Property managers are able to use the digital technologies that are included in a smart house as: an attractive selling point, to keep occupants content, and to reduce utility bills through efficient home energy usage. For both property managers and tenants of a multifamily home, smart home technology such as a smart thermostat can be used to diagnose problems, such as if a house is suspected of being leaky.

Navigant Research is a market research and advisory firm, with the goal of presenting an objective view of market opportunities that cover the global energy transformation. They seek to provide a comprehensive analysis of clean, intelligent, mobile, and distributed energy.

How Barrier Sciences Group Can Help

Barrier Sciences Group is an advocate of increasing energy efficiency on all fronts, and as smart thermostats are capable of helping their owners save energy, we often recommend homeowners and property managers to consider adding one to their building.

Although smart thermostats are currently no longer included in Enbridge or Union Gas rebates, if you go through the Enbridge Gas Home Energy Conservation Program and use Great Northern Insulation as your installation installer, you can receive an Ecobee 4 smart thermostat for free. This smart thermostat can work to improve not only the comfort and efficiency of your home through smart temperature monitoring systems, it also has built-in Amazon Alexa Voice Service for increased home connectivity and hands-free capability.

A smart thermostat is also very beneficial in a multifamily home, as the included room sensors can balance out hot or cold spots, as well as detect if a person is in the room, providing a more equalized and comfortable temperature throughout the building. This works to improve all residents’ satisfaction and comfort.

The New Home Efficiency Rebate offers rebates up to $5,000.

There’s great news for homeowners who are planning to do residential renovations or upgrades! The new Home Efficiency Rebate offers up to $5,000 back for home energy upgrades. By doing renovations or upgrades that will improve a home’s energy efficiency, homeowners may be eligible for substantial rebates of up to $5,000 from Enbridge and Union Gas. Simply put, there are long-term payoffs with an energy efficient home.

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