Which property types include smart-home / IoT?
Multifamily Class A (now standard for new construction), single-family-rental + Build-to-Rent (INVH + AMH portfolio-wide rollout), condo-hoa (varies — HOA-funded for common areas), Class A office (smart access + space utilization), hotel (premium tier), boutique-hotel + luxury (signature design + smart features), executive-suites + coworking-space (member-managed access).
What's in a typical multifamily smart-home package?
Smart lock (Yale, August, SmartRent, Latch), smart thermostat (Nest, ecobee, Honeywell), leak sensor under sinks + water heater, smart smoke + CO detector. Premium tier adds smart blinds (Lutron, Hunter Douglas), voice-control hub (Alexa, Google Home, HomeKit integration), smart lighting. Tech package fee runs $20-50/month layered on top of base rent.
How does smart-home affect multifamily NOI?
Tech package fee ($20-50/month) generates 0.5-1.5% of EGI directly. Energy savings from smart thermostats + smart blinds run 8-15% on common-area + in-unit utilities. Leak sensors prevent water-damage claims (insurance + repair) — typical 30-50% reduction in water-damage incidents. Smart locks reduce key-management labor cost. Net NOI lift is meaningful + measurable.