Greystar Finds Smart-Home Tech a ‘Must Have’ for Residents

Largest national third-party operator testing more affordable solution that doesn’t require a dedicated IoT Wi-Fi community network; is controlled through the unit’s thermostat.
By Paul Bergeron
Smart-home technology is generating greater efficiencies for apartment residents and their communities’ onsite teams alike. Innovation in this space has created a surplus of providers with a variety of solutions and price points.
Given all the options, multifamily C-suites wonder: If only the decision on which provider to choose was made more efficient.
Greystar has both recognized the necessity of offering competent smart-home technology and has discovered an interesting option in a growing field of emerging providers, said Andrew Livingstone, its Executive Managing Director.
“The pandemic created a large shift in how we operate, and it moved us forward a decade,” Livingstone said. “It changed how we think about operating apartments. It forced us, out of necessity, to think more futuristically, given the circumstances.
“It firmly created opportunities in apartment access technology, making how we enter our apartment homes a fundamental cornerstone. We’re seeing unprecedented changes with access given recent transactions involving companies that offer this and their valuations.”
Livingstone said access and smart-home technology are now an “absolute must have” not a “nice to have” – “it won’t just be in some apartment buildings; it has to be in all the buildings.”
There are several players in smart-home tech technology – but there is not a clear winner, he said.
“It’s an exciting time as brands continue to innovate their services to establish themselves as leaders in this space,” he said.
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