Chase Harrington

Apartment owners are warming up to technology services and solutions. In the past, there, owners have been hesitant to integrate and invest in new technologies, creating a technology gap for renters. Now, apartment owners are seeing the benefits of technology—it can generate higher rents, create more efficiency and better service and actually save money by eliminating tedious and time-consuming tasks, like rent collection. Now, apartment owners have started to partner with technology companies like Google, IBM and Amazon to launch specialty services.

“Anytime technology can be implemented to streamline and improve the experience of prospects or residents, it creates an opportunity for communities to convert leads, increase revenue and retain residents,” Chase Harrington, president and chief operating officer at Entrata, tells GlobeSt.com. “These partnerships empower the industry to stay more current in the constantly changing technology environment.”

Consumer demand for more smart features has forced this hand. According to Harrington, a recent resident survey found that 57% of renters were willing to pay more in monthly rent to have smart features in-unit. “In order to fully capitalize on these renter preferences, industry tech players have entered into partnerships and integrations with major consumer technology providers,” he says. “These partnerships enable residents and onsite teams to have centralized control of their smart amenities. They allow apartment operators to expand their reach to future renters with tools like live chat features from IBM Watson. Residents, meanwhile, can make rental payments, check their account balances, verify office hours, and learn about upcoming community events through Amazon Alexa.”