Constructing a Smart Apartment: Factors in Selling One 

Imagine almost forty (40) million individuals possessing Google Home, Alexa, or Amazon in their apartment units. Real estate companies can avail of it and begin to come up with a value for the new generation clients who are eyeing to just move into their units, utilize their Alexa, and can control everything in voice or mobile command.

Imagine almost forty (40) million individuals possessing Google Home, Alexa, or Amazon in their apartment units. Real estate companies can avail of it and begin to come up with a value for the new generation clients who are eyeing to just move into their units, utilize their Alexa, and can control everything in voice or mobile command. 

Elena Ashkinazy, Director of Time Equities, always strives to be technologically innovative and advanced. In the year 2020, they completed the pioneering smart apartment situated in the upper east side of the city of Manhattan. They made it on a pre-war apartment and when you think about pre-war structures, the first thing that comes to your mind is bare, not aesthetically designed, and you will never expect to witness anything smart, but it is possible. The project was completed successfully and it was even featured in the New York Times. This apartment was scheduled for a remake. They spent an extra ten (10) grand but they were able to dispose of the apartment for $120,000 within a similar complex just one flight down. The difference in the costs was pegged at ten (10) percent and the first apartment was on the market a couple of months before the smart apartment. The idea is they sell it faster for a premium. 

One of the major hurdles and it has become a value proposition for the clients was that old devices can be controlled with the use of one application so the clients do not have to hassle between several applications. It was also estimated and assumed that the smart apartment has the capability of being supper energy-efficient such that potential clients can save up to almost thirty (30) percent on their electric bills. The bottom line is, it is all about convenience. You have the entire control using your voice. Just say what you want and you will have it; all with your phone. Smart door locks, for example, you can still utilize traditional keys, but you don’t need to. You can do it anytime and anywhere. So, imagine one is standing in traffic and his guest came early, he can just open the door even if he is still not in the unit. You can see and monitor the activity of your door and you can give access to anyone. That is why people love it since it is very suitable and useful. A smart lighting system throughout the unit is also prevalent. The system is amazing and you do not have to touch the switch any longer. It works especially when you are tired. You rest in bed and before someone tells you to turn the lights off, Alexa will do the deed. It is like a genie saying your wish is her command. So, convenience is the kicker. 

A smart color lighting system is also the way to go. You can pick, mix and match any color within your pleasure. During an open house for apartment units, the lights can also be used for baby gender reveal. Say if it is a girl, “Alexa make all lights pink, and whoa!”. That will just create a wow factor that you can make use of even when you just show the unit to prospective tenants. Smart shades and shutters on the other hand can also be installed in the bedroom. You can open and close them with your voice and you can automate and schedule them. So if you want, you can schedule the days when you want to open it or when you wake up. You can also opt to stay the shutters closed during the weekend for a longer resting period. Tranquillity at its finest. 

Smart kitchen appliances are also on the list. A smart refrigerator is always a game-changer for potential clients. Initially, you can see what is inside your refrigerator while you are outside doing your shopping. To add to that, your refrigerator will begin tracking expiration dates. You know everyone has their stuff inside a fridge. Sometimes, one has no idea how long it was there. So now your refrigerator will take care of it and will transmit a so-called notification on the date of expiration. It also has a huge screen on the door. So instead of using stickers, you can now send voice messages, pictures, and private messages to your family straight from the fridge door. Mirroring a TV is also doable, you can also do shopping or play music. There are other kitchen appliances installed as well. 

The unit has a smart gas range. The idea is to begin cooking while you are in an apartment, and then you will set up a timer. And then you can go anywhere and control it anywhere. You can also change the temperature where you can turn the range completely off. You can also verify if you forgot to turn off the gas. All you have to do is just go off the app and check that everything is alright. 

The list goes on. They also have a smart dishwasher that transmits you a notification when the cycle is finished or when there is not enough dishwashing soap. Smart outlets are also prevalent. So, any type of appliance you plug into the outlet is converted to a smart appliance. So, in the units, there is a kettle, and they configure Alexa. For example, when one says good morning, Alexa automatically starts to boil water and will tell you the weather outside the latest news and the traffic in your proximity on your way to work. Motion sensors are also activated in the apartment. It can aid you in creating different scenarios. For example, you have a situation like “midnight snack”. So if you want to move after midnight to get a grub, you don’t want to get blinded by the bright lights so you can schedule if a person will enter the room after midnight, the lights will be dimmed with the help of the lighting system. The firm also introduced some technologies destined for the restroom and the bathroom. Imagine a showerhead incorporated with LED lights. So, gone are the days that you have to try the water and see if it’s hot or just fine. You can simply see if the water is hot, the light becomes red. In the same manner, if the water is cold, the led lights become blue. And it is also nice during a hot summer, you can get a blue light shower. When it is winter, you avail of the red light shower. It is also enticing to the eyes of kids.

What is not awesome in controlling climate and temperature? This is a must-have to possess a smart AC and thermostat. It is a no-brainer that you will witness tons of opportunities and benefits to add smart technologies in multifamily apartment units. This is a plus idea to add value to each unit.

At the onset, it is an excellent competitive advantage. It is an excellent marketing tool for you. To add, statistics show that you can enhance its sales price or rental price by five (5) percent on average. Furthermore, it is also energy-efficient. So, if you are a building owner or manager who is paying for gas for heat, you will take advantage of this scheme as well. All you have to do is to mull over where you can begin. For example, renovation is the most practical consideration to add smart technologies or if you have a vacant unit that you can utilize as a mock-up space. Feedback will come over to you and then roll out and scale across your portfolio. 

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Kaylee McMahon

Apartment investor/TREC Brokerage, LLC Owner

C: 469-990-4627 (text or call)

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