Blueprint for October
The Best of Both Worlds
By Jessica Hoefer
3 min read
My apartment was built in 1942 amidst the Silent Generation. Also known as “Radio Babies,” those born between 1928 and 1945 are characterized by their financial prudence, determination in the face of adversity, resilience and analog sensibilities. These traits are reflected in the now historic architecture that makes my building’s exterior so charming and the now modern interiors that have required improvements to make them more up-to-date.
Fast-forward to today’s generation, the fully digital, hyperconnected, focused on sustainability and diversity, technologically advanced Gen Alpha. The generation of smart homes. Requirements for a smart apartment are a single platform connecting property management, building automation and smart home devices. An upgrade that was recently made to my own apartment.
Through a partnership with Conservice—a utility management provider that manages commercial bill pay and utilities—and the integration of SmartRent hardware (e.g., smart thermostats and smart locks) my apartment is now smart. SmartRent is a home automation company developing software and hardware that empowers property owners, managers and homebuilders to effectively manage, protect and automate daily operational processes.
While I enjoy the conveniences of a smart home, as stated on the Conservice and SmartRent websites, these technologies also largely benefit property management and operations teams.
Beyond the online management aspect, which simplifies the process of tracking and paying for utilities, Conservice helps property owners reduce costs and identify areas for energy savings. SmartRent’s connectivity platform advances property operations by integrating hardware with cloud-based management software and utilizing a mobile maintenance app to simplify the process.
Both management tools are being used in several different markets – commercial use, single-family, student, military and multifamily housing.
So, what other options for operations and property management are out there? What can be outsourced? How are management staff trained? How are staff retained? How do we keep operating costs down? What is the newest technology?
In this issue of Tax Credit Advisor, Virtual Training, Doing the Most with Solar and Inspired by NSPIRE aim to answer these questions and more.
In Breaking Ground, National Multifamily Housing Council President Sharon Wilson Géno talks about the Tenant Bill of Rights, fraud in the rental application process, the results of NMHC’s insurance survey and its priorities for 2024.
And in Case Study: Osprey Apartments we visit my old stomping grounds, Charleston, SC, for examples of how developers are leveraging cost-savings from sustainability to make debt and financing numbers pencil out.
George Orwell said, “Every generation imagines itself to be more intelligent than the one that went before it, and wiser than the one that comes after it.” An apt sentiment for the affordable housing industry, which thrives on its wisdom, as well as its advancements. It’s the best of both worlds.
Regards,
Jessica Hoefer
Editor-in-Chief
