If you want to attract high-value renters, it’s important to consider the addition of smart access control technology to your property. Smart access control for rental properties is a hot topic in real estate. Why? The answer is generational change. Today’s renters grew up holding a tablet or a smartphone in their hand. They expect high-speed internet connections and Wi-Fi, not only in their apartments but in common areas too.
1 in 5 Gen Y residents report feeling unsafe around their community property.
Gen Y and Gen Z renters are also focused on security and personal safety. They have been exposed to mass shootings and sadly, to school shootings. That’s why living in a safe place is so important to them. So, when you’re planning how to market your property to attract high-value renters it’s important to consider smart access control technology. That’s because today’s renters want and will pay more to get smart apartment tech, including a smartphone app that helps them manage who enters their home and when.
25% of renters will pay more in rent for smart building technology that makes them feel safe.
How to Introduce Smart Access Control to Your Property
Smart access control is, well, smart. Another way of saying that it’s connected to the internet. So smart access control technology is both cloud software and hardware.
Smart Access Control Cloud Software
Here’s what you need to know about cloud software. First, the software is delivered as a service. If you use Netflix or Amazon Prime, you are subscribing to software as a service. You pay a monthly fee to use it. Think of Software as a Service (SaaS) as renting the software instead of owning it.
The benefit of SaaS is that you don’t have to set up the platform the software runs on. This means that you don’t carry fixed overhead costs like salaries for IT professionals to maintain and continually enhance the platform. And you don’t have to invest in making sure that the SaaS platform is secure and resistant to cyberattacks and information hacks.
Smart Access Control Hardware
The other part of smart access control technology is the hardware. There are different hardware components to choose from. This is because every property has its unique set of needs. So, you can choose exactly what you need to keep your property and residents safe and nothing more. Let’s look at the hardware that most properties with 2 – 9 units commonly use.
Smart Video Intercoms
Video intercom hardware comes with embedded controllers that enable it to connect with the cloud-based access control software. Think of the video intercom as the base station at the entrance of the building. It can be affixed to the exterior of the building or mounted on a pedestal.
The video intercom system has a speaker, microphone, and camera. Visitors use the directory touchscreen to find a tenant and enter the unit number. The resident can see who wants in and speak with the guest. If you use a video intercom with a door lock release, residents can grant access without coming downstairs — or getting off the couch.
Smart Access 2-Door Controller
This cloud-based credentialed access control solution controls up to two access points or doors. It’s also scalable and customizable and should be universally compatible with 26-Bit, 30-Bit, and 37-Bit Wiegand-compatible readers, receivers, and RFID Readers.
Using the cloud SaaS software, you can monitor access activity remotely. This includes configurable email notifications that let you know when codes are overused or if service is needed for connected hardware, such as smart video intercoms. Powered over Ethernet, there’s no wiring between the door controllers. This is important if you want to add another 2-door controller to manage access to additional entry points like a package room or an exercise room for example.
The best access control technology companies have a broad range of hardware products. This is to make sure that every property gets the personalized access control solution they need with products like these: Gate Operator, Parking Garage Door Opener, Smart Readers, Smart Locks, Smart Video Intercoms, 2-Door Controllers, and Smart Hubs.
Wired Intercoms or Wireless Video Intercoms
If you are using a telephone intercom access control system, it will soon be more expensive to support. That’s because telecom companies are no longer required by the Federal Communications Commission (FCC) to support the copper wiring that is used by Plain Old Telephone Service (POTS). If the copper wiring in your property fails, telecom companies are under no obligation to repair it and they have the right to replace it with a fiber optic cable line. So service and maintenance will get more and more expensive.
A wireless access control system offers property owners the opportunity to introduce smart video intercom technology without the need for wiring. For example, a wireless smart video intercom can overcome the logistical hurdles of historic or repurposed buildings by eliminating unsightly cables and cords.
The hardware for a wireless video intercom hardware is centralized in one physical location. But it uses the property’s Wi-Fi network to create service coverage for different entry points around your property —main entrances, amenity rooms like the gym or mailroom, plus gates, elevators, parking garages, and even elevators.
Property Access Control Scenario 1
Let’s look at what a smart access control solution could look like for a property with 2 – 9 units.
SMART VIDEO INTERCOM-S
day and night. And you don’t have to be onsite to let people in. You can grant access from your laptop or tablet to people like delivery drivers, maintenance crews, repair service people, cleaning crews, and more. Smart Video Intercom-S is a luxury amenity that sets your building apart. It tells residents and prospective tenants that you are serious about their safety and the security of the property.
myQCOMMUNITY CLOUD SOFTWARE
As the owner of 1 or more properties, you can control and manage access points within your property from a single convenient dashboard with all of the information you need in one place. And the myQ Community cloud automates time-consuming manual tasks like assigning new resident credentials and revoking access for residents who move out. You can even assign access to a specific entrance and monitor video logs of entry access events.
SMART ACCESS 2-DOOR CONTROLLER
61% of Gen Y respondents are more likely to rent a unit because of electronic access such as keyless entry.
91% of GenZ apartment residents say high-speed internet is an important factor when considering an apartment.
Property Access Control Scenario 2
If you’re not ready to upgrade your entire access control solution, you can still modernize your entry access points. Just replace the video intercom in scenario 1 with a Smart Access Hub.
THE SMART ACCESS HUB offers an affordable cloud-based solution that retrofits existing equipment with the convenience of 24/7 monitoring and remote access management for owners. Plus the resident myQCommunity smartphone access control app for remote access. With universal compatibility, the Smart Hub offers flexible connection options to monitor and control up to four access points.
Source: What Apartment Renters Value
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