Connected Technologies Drive New Value and Revenues in Multifamily Properties; Smart Home Technologies Create 23% Increase in Resident Satisfaction

Parks Associates and Cox Communities to host Industry Webinar on Enhancing Multifamily Properties with Smart Technology

DALLAS, Dec. 11, 2023 /PRNewswire/ -- Parks Associates' multifamily research quantifies a significant boost in multifamily resident satisfaction when a property provides smart home tech—83% of MDU residents with property-provided smart home devices are satisfied or highly satisfied with their apartment or condo. Only 66% of those without these devices report the same level of satisfaction.

Parks Associates will host the research webinar "Investing in Smart Tech: Practical Guidance for Properties," in partnership with Cox Communities, on December 12, 1 pm CT, featuring executives from Level Home, Sunroad Enterprises, and Cox Communications. The event examines the impact of smart home tech on rental value among multifamily properties and how MDU owners and managers can leverage these offerings to attract high-income residents, improve satisfaction, and add new revenues. The speakers will also share real-world experiences to provide best practices in deploying these solutions.

"New apartment construction is at historic highs, putting downward pressure on rents. Smart amenities, including connectivity and smart home solutions, can help a property compete and succeed," said Jennifer Kent, VP, Research, Parks Associates.

"We are really excited about the solutions we have built for our Multifamily clients that address problems such as property staffing gaps, operational inefficiencies, and manual processes," said Vickie Rodgers, Vice President and General Manager, Cox Communities.

The webinar will include key findings from the recent white paper "Smart Living: Elevating the Resident Experience." Parks Associates finds broadband connectivity and automated technologies are in high demand among MDU residents and, once deployed, these solutions are popular with residents. Nearly 80% of those with property-provided smart home devices and services are satisfied with these services.

The webinar, moderated by Jennifer Kent of Parks Associates, features the following speakers:

• Guillermo Rivas, VP of New Business Development at Cox Communications
• Ned Murphy, CRO of Level Home Inc.
• Keagan Huerta, EVP of Asset Management at Sunroad Enterprises

For more information, contact Mindi Sue Sternblitz-Rubenstein at [email protected] or call 972-490-1113.

About Parks Associates

Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.

The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.

Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. https://www.parksassociates.com

Contact:
Mindi Sue Sternblitz-Rubenstein
Parks Associates
972.996.0212
[email protected]

SOURCE Parks Associates